Querétaro is a “paradise” for retirees from the United States

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BBVA Foundation qualifies the region among the favorites of over 60s to reside.

The region made up of the municipalities of Querétaro, El Marqués, Corregidora, and San Miguel de Allende is already one of the five main havens for attracting retirees from the United States in Mexico and the main one in the center of the country other than Mexico City.

According to the Migration and Remittances, Yearbook Mexico 2022, edited by the BBVA Mexico Foundation, together with the Ministry of the Interior and the National Population and Housing Council (Conapo), people aged 60 or over born abroad live mainly in Mexico City and in the Tijuana-Rosarito-Ensenada, Chapala-Jocotepec, and San Miguel de Allende-Querétaro regions.

He points out that of the more than 90,000 foreign retirees or pensioners residing in Mexico, 4,454 have their permanent homes in the region made up of the three demarcations of Queretaro and Guanajuato, which places it as the fourth most attractive group of municipalities in the country. country.


The ranking is led by the capital of the Republic, with 15,802 residents over 60 years of age, followed by Tijuana-Rosarito-Ensenada with 6,780, Chapala-Jocotepec with 4,684, and San Miguel de Allende-Querétaro.

The report states that “the migration of pensioners from developed countries (occurs) to destinations where they have greater purchasing power and better climate, are some of the reasons that explain this flow.”

PANDEMIC INCREASES DEPENDENCE ON REMITTANCES

The Covid-19 pandemic caused an increase of 38.4 percent in the level of dependence of the Queretaro economy on remittances sent by countrymen working in the United States in the last year, according to the Yearbook of Migration and Remittances Mexico 2022 .

The report, edited by the BBVA Mexico Foundation, together with the Ministry of the Interior and the National Population and Housing Council (Conapo), indicates that, in 2021, the relatively low growth of the Gross Domestic Product (GDP) and the increase in remittances, generated that all the states present a greater dependency with respect to the average of the last 5 years.

For the state of Querétaro, the ratio of remittances as a proportion of the Gross Added Value of the local economy went from 2.6 percent between 2016 and 2020 to 3.6 percent in 2021.

And it is that, in 2021, remittances to Mexico reached a new historical maximum, reaching 51.6 billion dollars, which represented a growth of 27.0 percent at an annual rate. For Michoacán, Guerrero, and Oaxaca, remittances are more than 14 percent of their Gross Added Value.

The Queretaro Post