Mexico: Country Overview
The vibrant heart of Latin America
Mexico offers many different landscapes, prospering cities, and some of the most beautiful beaches in the world. Mexico’s warm climate, affordable living costs, and welcoming communities make it a top destination for digital nomads, pensioners and real estate investors. The proximity and similar timezone to the USA and Canada make it one of the most favourite relocation destinations for North Americans.
Mexico – Country Highlights
Economy
GDP (nominal): $1,811bn
Comparable to Russia and Australia
GDP/capita: $13,804
Comparable to Eastern Europe and the world average
GDP growth: 3.2% (annual, 2023)
Steady rate of 2% forecasted (2024-2028)
Population
Size: 127.50 million people
Median age: 30 years
Comparable to Panama and Saudi Arabia
Density: 65.2 people/km²
Compared to 94.9 people/km² in Spain
Climate
Average temperature: 15-27°C
Ø low of 10-18°C and Ø high of 23-32°C
Sunshine hours/year: 2,534h
Compared to 1,749h in Switzerland or 3,314h in Cyprus
Average precipitation/year: 758mm
Comparable to the USA and China
Language
Spanish 94%
5 million Mexicans are also fluent in English (4% of population)
Various indigenous languages include Mayan, Nahuatl, and others regional languages
Religion
Roman Catholic 78%
Protestant 11.2%, unaffiliated 10.6%
Security
Legatum safety ranking: 148th of 167
Comparable to the Philippines and Turkey
Mexican drug war
Since 2006 the government has been fighting the drug cartel
Several regions are still not recommended to visit
Real estate – our curated projects
Real estate market
Average Price per Square Meter: $3321 (Puerto Vallarta)
Gross Rental Yield
In City Center: 7.9%
Outside City Center: 7.7%
Diverse market with high demand due to popularity and close distance to the USA.
Government
Partly Free Country
Freedom Score 60/100 according to the Freedom House World Report
Federal Presidential Republic
Executive: President & Cabinet
Legislative: Senate of the Republic & Chamber of Deputies
Judiciary: Supreme Court of Justice of the Nation
Elections are every 6 years.
Taxes
Worldwide tax law
Up to 35% tax on global income for residents
Up to 30% tax on local income for non-residents
16% value added tax
No tax haven
25-35% capital gains tax
up to 35% crypto tax
10% dividend tax
0% inheritance tax
Cost of living
Annual Inflation (CPI): 5.54% (2023)
Latest 4.38% (Feb 2024); forecasted at 3%
Cost of fuel: $1.36/liter
Cost of electricity: $0.10/KWh
Annual cost of food: $1,754
Compared to $2,897 in Germany and $2,656 in Costa Rica
Healthcare
Universal healthcare
The majority of Mexican hospitals are excellent and staff is well trained. Doctors often speak English. Private sector is well developed.
Doctors per capita: 2.44
per 1,000 people, WHO Global Workforce Statistics, 2020
Life expectancy: 75.4
(OECD 2023)
Education
Free public school through high school
95.25% adult literacy rate
Tertiary Education attainment: 17.13%
of adult population; Mexico ranks 57th globally
The private school sector is well developed.
Living in Mexico: Unique Benefits
No real military service
Retirement income tax exemptions
Diverse climate zones

Universal free healthcare
Visa-free travel to 160 countries
Mexico: surprising must-knows and fun facts

The world’s largest pyramid
The Great Pyramid of Cholula in Mexico is the world’s largest pyramid by volume, surpassing even the Great Pyramid of Giza in Egypt.

14th largest economy in the world
Mexico, which was once started as a Spanish colony, now has a larger GDP than Spain. Mexico’s low production costs and thriving industry continues to grow its GDP at a faster rate than Spain.

World’s largest beer exporter
Mexico is the world’s top exporter of beer, with brands like Corona, Modelo, and Pacifico. It’s a country with a success story of beer.

Largest Spanish-speaking population
Mexico has, with 130 million, the world’s largest population of Spanish speakers, more than any other country in the world.

The origin of corn
Corn was first domesticated in Mexico about 9,000 years ago, in the region that is now the state of Oaxaca. Today Mexico still is the 6th largest producer of corn, behind the USA, China, Brazil, Argentina and India.