Booming numbers already living in México

We found this article on the colombian news site Economía y Negocios Online.  An important international banking and financial institution (BBVA Bancomer) executive stated that one million american retirees already live in Mexico.  The information was generated in Mexico, that’s why its center on the impact that Baby Boomers make in the mexican economy.

In a nutshell, american retirees spending a good chunk of their annual 75 grand income in residences, luxury items and investment, including expensive second homes in Baja California (both North and South) and Sonora.

An estimated 3 out every 4 of these expats prefer the countryside and easy living, and the total one million accounts for 25% of the americans living out of their homeland, but the number is expected to grow -or explode- in the coming years, as the 76 million people from Baby Boomer generation will retire, giving the world a young, healthy and active crowd that will have the opportunity to spoil itself and their descendants.

The article presents several pieces of statistical information worthy of awe, and provoke a lot of questions.

Mine is: What is the mexican economy going to do to serve a population that is not ready to go without a boom.

The Boom is Back

Monday, a second boom started.  Kathleen Casey-Kirschling applied for social security benefits.Now, the really big news for us lies in the tiny detail that she is the first baby-boomer to ever do that. We are in for the big game now. At age 61, healthy, furnished with a long career as a teacher, savings and, now, social security benefits, Casey-Kirschling will have a whole lot of years to travel, do, go, spend and pamper grandchildren.The impact that baby-boomers will have on the american and global economy is expected to play in the multi-billion dollar ballpark.  Great news for the leisure, sports, health and adventure tourism industries, as well as real estate in the U.S. and exotic places like the Sea of Cortes, Riviera Maya and colonial cities in Mexico.Because of this, the 2BAlive conference and expo by AMAR (the Mexican Association for Retirement Assistance) coming up in May ‘08 can be a business opportunity for those with their eyes open.The complete story by the New York Times is here: