Yesterday the Dallas Morning News published an intriguing article about the large amount of senior Americans and Canadians that have left their home country to spend their retirement in assisted living and senior living facilities in Mexico. According to the newspaper it is the affordable costs, the quality of care and the Mexican culture of service that attracts people. However, there is still a lack of regulations.

From the article in the Dallas Morning News:

With 75 million baby boomers heading toward retirement and the cost of private nursing care in the U.S. outstripping hammered retirement funds, Mexican developers say they have an irresistible product in the works: active senior and assisted-living facilities, in a warm climate full of friendly people, for as little as $1,100 a month.

…

Some developers are shifting their traditional condo and townhouse developments in midstream to include assisted-living wings focused, in part, on Americans who want modern facilities with quality services rather than the informal operations or go-it-alone approaches that now exist.

There are already an estimated 1.2 million retired Americans and Canadians in Mexico who – like their millions of compatriots back home – will need a greater level of care at an affordable price.

“This is not going to be a niche market; this is going to be an entire industry,” said Eduardo Alvarado, chief executive officer of La Moreleja, a residential development in San Luis Potosí, a colonial city in northern Mexico that also sports Wal-Mart, Home Depot and many other brands familiar to Americans.

“We already have the pioneers here, but what we are seeing is that many people will come perhaps not because they want to but out of necessity,” he said. Many will find Mexico far more modern and far safer than they had imagined, he added.

We encourage you to read the full article, please click here to access it. And click here to read the McKnight’s post that refers to the article.