Thread: Baby Boomer Americans to retire in Central America - Migrati

I found an interesting article and study about some birds that are flying south to warmer temperatures for the "Winter of their Life"

I hope that in the future I can receive some of those birds here and befriend and watch them.

Vicente Duque ( Bird Watcher )





Baby Boomer Americans to retire in Central America. Migration

The Yanquis Are Coming!

A study inside "Tech Central Station"





By Coley Hudgins Published 08/18/2005

http://www.techcentralstation.com/081805B.html



Some Excerpts of this long and interesting study :



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Having recently returned from vacation in Nicaragua and Costa Rica, the anecdotal evidence suggests it's already happening. Costa Rica is experiencing a housing boom that rivals anything here in the U.S. and is driven in part by new boomer retirees. Two or three bedroom homes that were selling for $270,000 in December of last year are now selling for $350,000 and $400,000 in some parts of the country. While coastal areas may be experiencing their own version of a housing bubble, there are still very reasonable prices for many boomer retirees.

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In Mexico, previously unknown towns like Ajiic, on the shores of Lake Chapala have attracted tens of thousands of boomer gringos as well. NPR reported last year that here retirees can have a furnished home, cheap dining and the part time services of a maid and gardener for less than $2000 a month. According to NPR, more than one million Americans now call Mexico home.



While exact figures are difficult to obtain, the U.S. State Department estimates that about 380,000 Social Security checks are delivered to beneficiaries outside the U.S. each month. Almost four million Americans -- not including embassy officials and the military -- are now living overseas, although how many of those ex-pats are retirees is unknown.



What is known is that governments in Central America are luring gringos with new laws that include impressive incentive packages for retirees. And despite the inherent volatility and political risks that remain in many of these countries, boomer gringos (and Central American governments themselves) are betting that the economic benefits of a retiree migration to Central America will be a two way street. Retirees get a lower cost of living, warm weather and cheap housing and create a virtuous cycle in return -- more retirees equals more local jobs, resulting in more economic stability and less political instability, resulting in more retirees.

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It's possible that the emigration of wealthy boomer gringos to Central America in the years ahead could slow illegal immigration here as workers become part of a home-grown service economy driven by retirees.

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But the facts seem to indicate that barring some unexpected political upheaval or economic calamity, the Yanquis are going to keep on coming in larger and larger numbers. Central American governments have already placed their bets. They see our retirees not as a drag on the economy as we here in the U.S. often do, but as a potentially huge source of much needed capital, investment and job creation. The smart money should be betting that they're right.

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Vicente Duque

Who in their right mind would want to live there?

It appears we are outsourcing some of our retired citizens. Don't come back crying to us if it doesn't work out in the end.