US Retirees growing in Mexico and Panama

Cross-posted from Living Without Borders:

The US Population in Mexico and Panama are forecasted to grow, according to US Census Figures. As many as 10 million Americans live in Mexico, with the growth figures accelerating rapidly.

Because of its proximity, Mexico has drawn asignificant portion of that group. The exact number is an elusive statistic, despite the efforts of researchers - governmental as well as academic - on both sides of the border. American and Mexican developers are building condominiums, resorts and in some cases entire communities in hopes of enticing Americans south. Foreigners, regardless of their immigration status, can now own homes in their own names. - Source

Many of the factors credited with the accelerated exodus of US citizens to Mexico and the Panama include rising taxes, reduced reliability on pensions, increased medical costs, and the desire for a more active lifestyle at a lower cost.

The data below indicates the growing foreign populations in Panama and Mexico - during the last 30 years, Mexico has seen a greater proportionate rise in US citizens, while the Panama is making a more recent comeback.

Census Counts of the US-Born Population: Panama and Mexico, 1970 to 2000

	Total population	Foreign-born	US-born
Panama
1970	1,352,344	57,275	6,894
1980	1,824,796	47,722	4,293
1990	2,329,329	61,394	3,241
2000	2,839,177	82,097	5,113
Mexico
1970	48,225,238	191,159	97,229
1980	66,846,833	268,900	157,117
1990	81,249,645	340,824	194,619
2000	97,014,732	519,707	358,614

Despite the large numbers indicated in census data, there is very little actual research done on the demographics of the US citizens abroad or their settlement choices. Howerver, combining host-country with US census information, it is clear that citizens over 50 are a growing number in the exodus.

The US-born population aged 55 and older grew dramatically between 1990 and 2000 in big retirement areas and some border communities. While nationally it increased from 24,090 to 28,247 people, or 17 percent, rates of growth were much higher in some states. States that experienced large growth in this population were Jalisco (3,438 people or 138.6 percent), Baja California (1,467 people or 43.5 percent), Baja California Sur (846 people or 188.0 percent), and Guanajuato (434 people or 26.0 percent)...

[In Panama,] census numbers do show a growth in the US-born senior population between 1990 and 2000. According to Panamanian census data, the number of US-born seniors aged 55 and older residing in Panama grew from 491 in 1990 to 1,159 in 2000, an increase of 136 percent.

None of the data above captures the second-home buyers, a segment of the real estate market that is growing at very high rates in both Mexico and Panama, and which would be interesting to add on.

There is still a great deal to look at in this growing trend. Much of the census data is old, as census' go, but the trends can have only progressed in the last 6 years. One interesting factor was that most retirees interviewed cited the Internet as their primary research tool in deciding to move or buy a second home. One good resourcec for finding information about moving to & living in Mexico is here - tons of great articles, tips, and even real estate listings.

Via after 50 finance, migration information source