| | |  Vallarta Living | October 2009 
Foundation Undertakes Study of U.S. Retiree Trends in Bahía Banderas and other Mexican Coastal Communities
 Richard Kiy - icfdn.org
October 20, 2009
Over the past decade Mexico has become the top overseas retirement destination among American retirees. In 2000, an estimated 1 million Americans were living in Mexico on either a part time or year round basis and that number has grown in recent years, particularly in Mexican coastal regions like Bahía de Banderas.
Though the economic downturn, recent news stories in the United States of narco-violence and this past Spring’s H1N1 flue scare has resulted in a decline of American tourism to Mexico as well as a bust in several speculative Mexican real estate development projects targeted at U.S. baby boomers, the fact remains that Mexico continues to be a desirable place for Americans to retire in the foreseeable future due to its affordability.
Sadly because of dwindling retirement savings and the loss of home equity due to the real estate bust in the United States, a growing number of American retirees will today be unable to comfortably retire in their own country.
According to the U.S. Social Security Administration, the average American retiree receives $1,150 monthly yet 20% of all Americans rely on social security for up to 90% of their income. These statistics are supported by the UCLA Center for Health Policy which has found that over 500,000 Californian retirees are unable to make ends meet as the average cost of living for a California retiree is $21,101 annually.
Because of its affordability and its close geographic proximity to the United States, Mexico will remain, for the foreseeable future, a desirable alternative retirement destination for a growing number of Americans and Bahía de Banderas will continue to be among those destinations most preferred by U.S. retirees.
Yet to what degree have recent events changed or permanently altered U.S. retiree preferences and consumer choices in deciding to retire to in Mexico? Also, what key lessons can be learned to address the American retirees growing and changing needs?
To better understand U.S. retirement trends in Mexico, the California based- International Community Foundation is undertaking a survey of the American retiree community in key Mexican coastal cities including the Riviera Nayarit and Puerto Vallarta to better assess key consumer preferences and lifestyle choices of U.S. retirees now living in Mexico on issues related to cost of living, health care, public safety, environmental sustainability, as well as the degree of cultural integration and civic engagement in ones adopted Mexican community.
Why is the research important? In 2010 the U.S. Census will commence yet there are no plans to include U.S. expatriates in the upcoming census count. As the number of Americans in Mexico grows, so too will their healthcare needs so there is a pressing need for medical care received in Mexico to be reimbursable under Medicare. Yet this will require changes in U.S. health care policy. Similarly in Mexico there is a need for Mexican policymakers to better understand what key preferences draw Americans to Mexican coastal communities and what factors could cause them to leave?
Through the study, the International Community Foundation hopes to provide U.S. and Mexican policymakers with recommendations that will better enable Americans to comfortably retire in Mexico while at the same time assisting their adopted Mexican communities to sustainability adjust to the growing number of U.S. retirees that are likely to emigrant to Mexico in the coming years. The study is scheduled to be released in January 2010.
To assist the foundation in its efforts the International Community Foundation is in need of the participation of U.S. retirees ages 50 years or older who will participate in our study. To complete the study, interested retirees can visit the following web link: icfdn.org/initiatives/retireesurvey/index.php
For each survey completed by a qualified survey respondent, the International Community Foundation will donate $3.00 to a Mexican charity of your choice with a friends of fund at our foundation.
About the International Community Foundation:
The International Community Foundation is a public nonprofit organization that seeks to increase charitable giving and volunteerism across U.S. borders to benefit overseas communities and nonprofit charitable organizations, with an emphasis in Mexico and Central America. With assets of more than $12.8 million, ICF made more than $5.2 million in grants last year to nonprofit organization internationally with 80% of its giving benefiting nonprofit organizations based in Mexico. For more information on the foundation visit: icfdn.org. |
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