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Brando T.

Why Should You Live In Latin America?

Actualizado: 13 feb 2022

The main reasons are, the increased standard of living, the growing economy, the prosperity of the region and the fact that there are opportunities for those looking to settle into a new life. The influx of expats into countries such as Brazil, Mexico or Colombia has actually picked up in pace rather than subsided.

Are you considering traveling, moving, working, investing or retiring in Latin America? Have you ever thought about it?

Let’s analyze some of the advantages of living in this part of the world. Some of the key advantages of living in the region are: low cost of living, easier visa and residence permit policies in general for Americans or Europeans, thriving expat communities in many cities in the region, pleasant weather in most countries, possible healthier lifestyle and a relatively easy languages to learn if you have a good teacher.

Latin America comprises around 20 countries, which can be subdivided into four regions based on their geographical position: North America, Central America, the Caribbean and South America. As of 2021, Latin America accounts for about 8.37 percent of the global population, and is home to 656 million inhabitants


Interesting facts:

  • Four nations - Chile, Peru, Colombia and Mexico - are leading the charge towards market prosperity in this oten overlooked part of the globe

  • Mexico is the second largest economy in Latin America, with a 2020 GDP of over 1 trillion dollars

  • Despite rapidly growing economies, many of these countries suffered from the impact of the COVID-19 pandemic


Low Cost of Living

One of the major advantages of living in Latin America is being able to enjoy some of the lowest cost of living in the world. Most countries in Latin America have cheaper currency when compared to the US or Western Europe. For that reason, your US dollar, euros or pounds will last much longer in Latin America then back home.


For example You would need around 2,437.44$ (50,076.90MXN) in Mexico City to maintain the same standard of life that you can have with 6,400.00$ in Los Angeles, CA (assuming you rent in both cities). This calculation uses our Cost of Living Plus Rent Index to compare cost of living. This assumes net earnings (after income tax).


Consumer Prices in Mexico City are 53.01% lower than in Los Angeles, CA (without rent); Consumer Prices Including Rent in Mexico City are 61.91% lower than in Los Angeles, CA


You would need around 869.11€ (20,266.71MXN) in Mexico City to maintain the same standard of life that you can have with 2,000.00€ in Paris (assuming you rent in both cities). This calculation uses our Cost of Living Plus Rent Index to compare cost of living. This assumes net earnings (after income tax).


Rent Prices in Mexico City are 58.24% lower than in Paris; Restaurant Prices in Mexico City are 53.71% lower than in Paris.


Visa and Residence Permit


Another interesting advantage of living in Latin America is that most countries in the region have a relatively easy visa and residence permit policy. If you are an American and you want to live in Europe for example, most countries do not have a visa for retirement, and the ones who have it usually have high requirements in order to live in the country as a retiree. That’s not the case in Latin America.


In most Latin American countries you can get a visa to stay year round relatively easily. If you just want to spend half of the year in Latin America you can come to Mexico, and enjoy a 180 day visa free entry. This applies to Americans, Canadians, and most citizens of Western Europe. But this is slowly changing, contact Grupo Internacional Mackendal for more information and assistance.


Healthier Lifestyle


I put “healthier” in quotations, because the choice is yours.


There’s no doubt that the average person in Latin America doesn’t eat particularly “healthy”. Fried foods, sugar and vegetable oil are staples in most Latin American countries.

Be that as it may, it is still easy and cheap to eat well in Latin America. GMO foods are much less of a thing than they are in Canada or the USA. The selection of fresh fruits and vegetables is much more plentiful as well.



There are even plenty of “gluten free” and “certified organic” choices if that’s your thing.

Not to mention the fact that if you’re in a smaller Latin American city, life goes slower. Things are less stressful. Relaxing is a given. If you were caught up in the rat-race back home, you’ll find a much slower pace of life down here. Latin America also has some of the best weather in the world.


A good example, Mexico which has a very laid-back culture, and Mexicans are genuinely friendly. Many people report making positive lifestyle changes like walking more, eating healthier, socializing more, and learning to slow down since moving to Mexico. If you're interested in living the expat life, settling in Mexico is a great way to go.


Opportunities


Working and investment opportunities are endless in some countries of Latin America. Again Mexico stays a good example. Whether you want to study, work, start a business or invest, you will always find something that suits you. Contact our consultants for more information.


We have seen a significant increase in the number of European and Asian companies looking to invest in Latin America. This, on top of ongoing North American investments in the region

According to the U.N.'s Economic Commission for Latin America and the Caribbean, Europe is the largest source of foreign investment in the region, accounting for about 55% of all FDI in 2019.


However, this analysis groups all of Europe together, since such flows often pass through third countries. The United States accounted for 27% of Latin American FDI in 2019.


Chinese companies announced an average of over $7 billion in Latin American mergers and acquisitions each year between 2010 and 2019.


Moving to Latin America is a good choice. Depending on your situation, goals, what you need and want. Many things to consider. A 4 week vacation could help make up your mind, who knows.

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