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Monday, January 30, 2023

North American citizens who move to Mexico: The reverse migration boom, its causes and consequences

months ago, Chad Balkum decided to pack his bags and temporarily leave his life in Brooklyn, New York, to move to Mexico City and continue his work as a designer in an environment with “a different energy”, social and cultural attractions, lower cost of living and better climate.

The neighborhood I used to live in in New York is becoming increasingly expensive, which is causing many people to move out. ,Every time you go out in New York, you feel like you’re spending almost $100 when you could be making better use of your money here. Everyday things, from food to living expenses to entertainment, living here is more affordable,” said 35-year-old Balkum.

His story may seem unusual in the general migrant context between Mexico and the United States, which is characterized by the annual migration of hundreds of thousands of Mexicans to the neighboring country. Even then, Balkam’s case is not an isolated one, but rather common in recent years in Mexico’s capital and other large cities in the country.Which are attractive to Americans and foreigners of various nationalities, who join the stream of reverse migration, unimaginable until relatively recently.

Mexico City

This phenomenon fundamentally responds to the advantages that Mexico offers them to organize and complete their work remotely, being able to benefit from an exchange rate that is comparable to that of living in modest conditions. Due to the low cost makes their money yield high. origin country. Source. According to data from the Government of Mexico, From January to September 2022, Mexican authorities issued 8,412 Temporary Resident Cards (TRTs) to Americans, Which represents an increase of 1,574 requests, or 23% more than the same period last year, when 6,838 were reported.

The increase becomes even more noticeable if the fact is considered Many settled in Mexican territory without requesting a TRT from US immigration officials, as they can legally stay as tourists for a period of six uninterrupted months.Which they can resume by returning to the United States for a few days and then set foot on Mexican soil.

Edita Norezko, CEO of Forhouse Real Estate Agency, said that, as the statistics show, a boom The number of foreigners coming to Mexico in recent years, especially Americans. “We have two types of foreigners who come to Mexico: the first are young people between the ages of 20 and 40, many of them digital nomads.there are more seconds retiredFor those who need to save money”, he explained.

Colonia Polanco In Mexico City Is One Of The Most Exclusive Neighborhoods Similar To Recoleta In Buenos Aires.
Colonia Polanco in Mexico City is one of the most exclusive neighborhoods similar to Recoleta in Buenos Aires.Enrique Lopez Tamayo Biosca

Of Polish descent and living in Mexico 10 years ago, Norejko founded a company in 2014 primarily focused on foreign clients looking to rent or buy homes in the Mexican capital, specifically Condesa, Roma and in the Polanco neighborhood.

growth of The arrival of American digital nomads and retirees That happened in that country, in Norejko’s opinion, during the COVID-19 pandemic, but also as a result of increases in the cost of living in the US, particularly in terms of housing and access to health services.

Similarly, the interviewer explained that “the most open life of the Mexican capital” and “great cultural attraction”. Areas such as the Condesa-Roma-Polanco neighborhood corridor have made the city one of the preferred destinations for foreigners. The corridor is a safe area, with many cafeterias, restaurants, architectural elements, attractions and places where you can go to do anything from day to day.

Colonia Roma, One Of The Favorite Places For North Americans To Settle In Mexico
Colonia Roma, one of the favorite places for North Americans to settle in Mexico

That’s where most Americans “want to rent homes with at least two rooms and an outdoor space such as a balcony or terrace, with monthly prices ranging between US$1,000 and US$2,000,” Norejko said. Explained.

The amount of rent in that area of ​​Mexico City, which is unaffordable for many Mexicans, contrasts with the cost of housing in large cities in the United States, which reach between US$5,000 and US$6,000 per month.

Local residents of Mexico City have viewed the phenomenon of reverse migration with reservation and criticism.Since it constitutes an example and possible growth of the so-called tourism and gentrification processes that different areas of the Mexican capital have experienced in recent years.

One of the first to criticize the influx of Americans and foreigners into Mexico City in general, due to its consequences for the local population, is philosophy professor and cultural critic Fernando Bustos. In his social networks, Bustos explained that, sometimes, he comes to a cafe in a Roma neighborhood and turns out to be the only Mexican there besides the servers. ,This incident has a direct impact on real estate. During the pandemic, rent prices never went down in Roma and La Condesa because foreigners were moving inBecause here it is much cheaper for them and it somehow perpetuates a gentrification process ”, Bustos explained, in a video that he uploaded to his network.

Xinhua

Conocé Trust Project
World Nation News Desk
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