More and more Baby Boomers are moving to Mexico for retirement

More and more Baby Boomers are moving to Mexico for retirement

(Photo: Google)

Morgan Hill, California – A new “Expats In Mexico” online survey of people who are considering moving to Mexico found that 81 percent of Baby Boomer respondents said they will retire in Mexico, nearly 52 percent within two years.

“It’s not surprising that so many Baby Boomers, primarily from the U.S. and Canada, are considering retiring in Mexico,” said Robert Nelson, Expats In Mexico co-founder and author of Boomers in Paradise – Living in Puerto Vallarta. “I discovered this trend 11 years ago while researching my book and it has just continued to pick up steam.”

The Mexican government reported over 1.2 million expats were living in Mexico through 2017, the latest figure available. The 2000 Mexican census data showed just under 540,000 expats in Mexico. Americans represented over 80 percent of all expats living in Mexico two years ago, nearly 900,000.

Retirement is the main reason why Boomers and all respondents want to move to Mexico. Both groups also rated cost of living and better climate as top reasons to move.

“Mexico as a retirement destination for Baby Boomers makes sense,” Nelson said. “According to a recent report by the Stanford Center on Longevity, U.S. Baby Boomers hold less wealth, are deeper in debt and will face higher expenses than retirees a decade older than them. Why not live better in a nicer climate?”

But all is not perfect south of the border. About 45 percent of all respondents and Boomers say security issues in Mexico might be a concern for them. Lack of Spanish language skills and quality of healthcare were less important considerations.

Both Baby Boomers and all respondents selected Puerto Vallarta as their destination of choice, followed by the Lake Chapala area and Los Cabos. About 38 percent of all respondents and Boomers chose a wide variety of other locations in Mexico.

The self-selected online survey was completed by 337 respondents in January and February 2019. Respondents were primarily Americans and Canadians.

You can find more survey results at ExpatsInMexico.com, an online magazine designed for both expats currently living in Mexico and aspiring expats considering moving to Mexico.

Source: ExpatsInMexico.com

AUBERGE RESORTS’ “SUSURROS DEL CORAZÓN” BREAKS GROUND IN THE RIVIERA NAYARIT

AUBERGE RESORTS’ “SUSURROS DEL CORAZÓN” BREAKS GROUND IN THE RIVIERA NAYARIT

The global luxury brand Auberge Resorts Collection has begun construction on its latest property, Susurros del Corazón (Whispers of the Heart), located in the exclusive area of Punta de Mita in the Riviera Nayarit.

This is a luxury boutique development with only 30 beachfront residences with a view of Banderas Bay and a tentative opening date for 2020.

The groundbreaking ceremony took place last Friday on the beach at El Banco—the site of the residential complex—and was attended by investors, development executives, municipal and state authorities, and members of the region’s business community, among them, the Secretary of Tourism for the State of Nayarit, Ana Cecilia Llanos, and the Managing Director of the Riviera Nayarit Convention and Visitors Bureau (CVB) and the Bahía de Banderas Hotel and Motel Association, Marc Murphy.

“We’re very pleased with the trust the investors and developers have placed in us by creating these new tourism projects in the Riviera Nayarit,” said Marc Murphy. “Susurros del Corazón by Auberge Resorts is the type of investment the Bahía de Banderas Hotel and Motel Association and the Riviera Nayarit Convention and Visitors Bureau truly enjoy welcoming.”

“These are high-end, low-density hotels with specialized clientele: the type of tourist who likes to leave the hotel, go out to dinner, go shopping, and who generates important economic revenue. There’s no doubt this type of investment is a stimulus,” he added.

Meanwhile, Mark Cooley, partner, SV Capital Partners, developers of the resort and residences, stated it was very important for the company to preserve the natural beauty of the land and it was being conscious during the development to create a community that was in harmony with its surroundings.

“Punta de Mita is such a special place,” said Cooley. “We wanted to bring something totally unique to this area and the new Auberge resort hotel suites and stunning oceanfront villas deliver on our vison.”
The entire ethos of this property—he added—is to combine a rustic simplicity that feels very authentic with the world-class amenities expected from a quality Auberge resort.

By the same token, Craig Reid, executive director of Auberge Resorts Collection, pointed out that Susurros del Corazón will be an entirely new experience in Punta de Mita, one that embraces a laid-back beach spirit and perfectly balances luxury and approachability.

“We could not be happier to partner with SV Capital in another exceptional resort and residential project. The groundbreaking is an exciting milestone moment in the journey of bringing this vision to life,” he said.

Upon opening in late 2020, Susurros del Corazón will comprise 59 hotel guest suites, four distinct culinary concepts, a 3,000-square-foot fitness center and yoga studio, kids’ club with daily activities, and 4,600 square feet of event space, including an outdoor patio and spacious event lawn, offering an idyllic setting for picturesque gatherings. Tucked among lush gardens, an Auberge Spa will feature 11 treatment rooms and a variety of treatments inspired by the rich heritage and healing properties of the surrounding Riviera Nayarit region. The resort’s beach spans 1,850 linear feet of pristine sand, perfect for swimming and paddle boarding.

International tourist numbers up 5.5% last year and they spent more, To Mexico

The beach umbrellas are ready for more growth in tourism.The beach umbrellas are ready for more growth in tourism.

International tourist numbers up 5.5% last year and they spent more

There were 41.4 million international tourists and they spent 6% more

The Secretariat of Tourism (Sectur) said in a statement that 41,447,000 foreign tourists visited Mexico in 2018 compared to 39.3 million the year before.

The tourists spent just over US $20.3 billion while here, 6% more than in 2017. Each international tourist spent on average US $490 in the country.

The top 10 source countries for tourists who arrived by air were the United States, Canada, the United Kingdom, Colombia, Argentina, Brazil, Spain, Germany, France and Peru.

Once daytrippers from the three countries with which Mexico shares a border are added, a total of just under 96.8 million foreign visitors entered the country last year.

That figure represents a 2.6% decline on total visitor numbers in 2017, according to data from the National Institute of Statistics and Geography (Inegi).

The 55.3 million daytrippers spent just under US $2.2 billion or an average of $39 each, taking total tourism expenditure to just over $22.5 billion, 5.5% more than 2017.

For this year, Sectur predicts that international numbers could hit 43.6 million, which would represent a 5.2% increase on last year’s figures. Total tourism expenditure is forecast to reach jut under US $23.7 billion, which would also be 5.2% higher than in 2018.

Tourism Secretary Miguel Torruco Marqués described the outlook in both areas as positive.

Earlier this month, Torruco said that the government is aiming to increase expenditure by tourists in Mexico by focusing more on attracting big spenders.

Among the nationalities that spend the most while visiting Mexico, the Japanese were in first place, spending an average of $2,008, not including airfare.

However, in terms of visitor numbers, Japan was only in 17th place with 140,363 visitors.

Source: Notimex (sp) 

Hotels bet big on tourism: majors plan 352 new properties in next 3 years

Paradisus Playa Mujeres is one of the luxury hotels scheduled to open this year.Paradisus Playa Mujeres is one of the new luxury hotels.

Hotels bet big on tourism: majors plan 352 new properties in next 3 years

Several new luxury hotels are slated to open this year

The principal hotel chains that operate in Mexico are planning to open 352 new properties between this year and 2022, according to an analysis by the real estate firm CBRE.

City Express Hotels, which mainly targets business travelers, will lead the way by opening 80 new properties over the next three years.

“We see a challenging economic outlook but we’re maintaining the positive idea of continuing to position ourselves in the center of cities . . .” the company’s director of innovation, José Luis Carrete, told the newspaper El Financiero.

AMResorts plans to open 66 new hotels in the same period while Grupo Posadas will open 48 with a 30-billion-peso (US $1.5-billion) investment.

Marriot, the NH Group, Hoteles Misión and the Intercontinental Hotels Groups have, in that order, the next most ambitious plans. The four chains will collectively open around 150 new hotels over the next three years.

The CBRE study was based on information publicly disclosed by the hotel chains but some analysts believe that plans could change due to the cancellation of the new Mexico City International Airport and the elimination of the Tourism Promotion Council (CPTM).

Nevertheless, the Mexican Hotel and Motel Association (AMHM) is forecasting that the number of luxury hotels in Mexico will increase by 5% in 2019, three points above the figure recorded in the past three years.

At least half of the new luxury hotels that open in Mexico this year will be time-share properties or vacation clubs, according to Juan Ignacio Rodríguez, the executive director in Latin America of timeshare vacation exchange network RCI.

Among the hotels that will open in 2019 are Paradisus Playa Mujeres and Now Natura Riviera Cancún in Quintana Roo, Nobu Hotel and Hard Rock Hotel, both in Los Cabos, Baja California Sur, and Conrad Playa Mita in Nayarit.

Source: El Financiero (sp) 

Enel Green Power to invest US $160 million in solar plant

There will be new solar panels in Tlaxcala.More solar panels are coming to Tlaxcala.

Enel Green Power to invest US $160 million in solar plant

Tlaxcala project will be the largest in the Americas

The largest solar power plant in the Americas is scheduled to start operations by mid-2019 in the central Mexico state of Tlaxcala.

Located on a 1,000-hectare expanse of land straddling the Tlaxco and Hueyotlipan region, the Magdalena 2 plant will be built by the Italian multinational Enel Green Power.

Representing an investment of US $160 million, the plant will have 550,000 solar panels and generate 231.8 MW.

Enel’s head of renewable energies for Mexico and Central America, Paolo Romanacci, stated that Tlaxcala was the ideal place for the project due to its competitive advantages, including its connectivity and economic stability.

Enel Green Power is one of the biggest renewable energy investors and operators in the country in terms of installed capacity and project portfolio.

Source: El Financiero (sp)

Mexico says deal with U.S. on NAFTA issues may be ‘hours’ away

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Agreement between Mexico and the United States on outstanding bilateral issues in renegotiating the North American Free Trade Agreement (NAFTA) could be just a few hours away, Mexican officials said on Wednesday.

“We hope that we’ll have a solution in the next couple of hours, or the next couple of days,” Mexican Economy Minister Ildefonso Guajardo told reporters before entering the offices of U.S. Trade Representative Robert Lighthizer for NAFTA talks.

The Mexican peso rose against the dollar after his comments.

A spokesperson for Lighthizer’s office said there was no deal yet and that “major issues” were still outstanding on NAFTA.

Since restarting last month, the talks have focused on settling differences between Mexico and the United States that go to the heart of U.S. President Donald Trump’s complaint that NAFTA has hollowed out U.S. manufacturing to Mexico’s benefit.

Trump has threatened to dump the 24-year-old accord if it is not reworked to the advantage of the United States. He hopes to reduce the U.S. trade deficit with lower-cost Mexico and claw back jobs, particularly in the automotive industry.

Although progress has been made on the automotive question in recent weeks, other issues, including a U.S. proposal that could kill NAFTA after five years, remain unresolved.

Guajardo’s comments were echoed by Jesus Seade, designated chief negotiator of Mexican President-elect Andres Manuel Lopez Obrador, who said the two sides were making “good progress” and that talks could conclude “in the coming hours.”

Canada has been waiting for the Mexican and U.S. teams to reach common ground on autos before rejoining the negotiations.

U.S. and Mexican officials say they will push for a deal on reworking auto industry rules that could open the door for Canada to return to negotiations soon.

Guajardo said the talks would seek to resolve the key issues so that Canada could rejoin the talks. How quickly Canada returns to the table would depend on the progress made in Wednesday’s talks, he said.

A Canadian government source said on Tuesday there was nothing to report yet on Canada’s return.

Talks to rework NAFTA, which underpins the bulk of foreign trade in North America, have ground on for more than a year. Discussions stalled ahead of the July 1 Mexican election as negotiators failed to make a decisive breakthrough.

Aside from autos, the three sides have yet to agree on future dispute resolution mechanisms, while Mexico and Canada also oppose a U.S. demand to introduce a “sunset clause” that would force a renegotiation of NAFTA every five years.

Mexico and Canada fear a sunset clause could be a major hindrance on long-term investment.

Reporting by Sharay Angulo and Timothy Aeppel, Writing by Daina Beth Solomon; Editing by Dave Graham, Dan Grebler and Susan Thomas

More tourism infrastructure coming to Riviera Nayarit

The Kyrstal Grand Nuevo Vallarta opened last year.The Kyrstal Grand Nuevo Vallarta opened last year.

More tourism infrastructure coming to Riviera Nayarit

Several new properties opened last year and more are coming

 

After a successful 2017 the Riviera Nayarit region is looking forward to further growth.

Riviera Nayarit is a 300-kilometer or so stretch of coastline in Nayarit state between the historic port of San Blas and the Banderas Bay in Nuevo Vallarta, adjacent to the resort town of Puerto Vallarta, Jalisco.

Tourism generated nearly US $200 million last year for the region, a 300-kilometer stretch of coast in the state of Nayarit. Hotel occupancy rates remained above 80%, while high-end properties saw levels of more than 90% on average, reported the travel website Travel Pulse.

“Riviera Nayarit is a destination like no other,” said Marc Murphy, managing director of Riviera Nayarit Convention & Visitors Bureau. “Our versatility and distinct appeal have translated into recent success for our pristine destination, from resort town Nuevo Vallarta to the historic village of San Blas, celebrity haven Punta de Mita, surfing mecca Sayulita, and everything in between.”

Several new properties opened in 2017, including the 480-room Krystal Grand Nuevo Vallarta, home to the largest convention center in the city.

Also last year, Grupo Autofin Monterrey inaugurated the Grand Sirenis Matlali Hills Resort & Spa, and Marival Group expanded its offerings with the opening of MozzaMare Casual Beach Gourmet, created for guests of Marival Residences Luxury Resorts.

Tourist infrastructure will continue to grow during the remaining half of 2018 with the opening of the region’s first Fairmont property at the Costa Canuva development, which will be home to five new hotels and more than 7,000 guest rooms.

Other projects under way is a Cirque du Soleil theme park that will offer evening shows for as many as 5,000 spectators. The Rosewood Mandarina is also scheduled to open next year, with 130 guest rooms, suites and villas.

The Grand Sirenis Matlali is expected to open the second stage of its development and Iberostar is on track to open a property in Litibu.

There are two developments in Punta de Mita readying for a 2019 debut: the Auberge Resort Collection’s Susurros del Corazon and Conrad Hotels & Resorts’ redesign of the former La Tranquila Resort, Conrad Playa Mita.

Finally, One&Only Mandarina will debut both its residences, One&Only Mandarina Private Homes, and the One&Only Mandarina Resort.

AMResorts recently announced plans for two resorts: Dreams Punta de Mita Resort and Spa and Secrets Punta de Mita Resort and Spa, both scheduled to open in 2020.

Source: TravelPulse (en)

Chinese auto maker BAIC is preparing to announce a US $2-billion investment to build a plant in Mexico, according to company sources.

The BJ40 is one of the models BAIC sells in Mexico, with prices starting at 571,900 pesos.The BJ40 is one of the models BAIC sells in Mexico, with prices starting at 571,900 pesos.

Chinese auto maker preparing to build US $2-billion plant

BAIC vehicles are only assembled here, leaving them subject to a 21% tariff

The unnamed sources told news website Expansión that the plan could be made public as soon as next month and is designed to make the car manufacturer’s prices more competitive in Mexico as well as Central and South America.

The company currently uses a production line in a Veracruz facility operated by Mexico-based AT Motors for the final assembly of the vehicles it sells in the domestic market.

But because none of the manufacturing process is completed in Mexico, each BAIC vehicle pays a 21% import tariff.

The operations director for Grupo Picacho, which markets the Chinese cars in Mexico, told Expansión that by moving the entire manufacturing process to Mexico, significant savings will be made and prices will drop.

“With this we believe that we can reach 4% [tariffs] . . . in the segments we participate in: compacts, SUVs and all-terrain vehicles,” Samuel Echeverría said.

The company first entered the Mexican market in the middle of 2016and has since sold 1,700 vehicles.

The company sources said that eight states — Sonora, Coahuila, Nuevo León, Puebla, Hidalgo, Guanajuato, Yucatán and Quintana Roo — are competing to win the investment.

Echeverría explained that a variety factors including logistical convenience, plant accessibility for local suppliers and incentives offered by state governments will ultimately determine which state is chosen.

“One of the requests that BAIC International is making . . . is to be able to offset the tariff with some tax extensions while the plant is being built,” he said. “Some states have taken the lead on offering different tax incentives,” Echeverría added.

Once the plant is operational, the company will be able to import a quota of cars to Mexico duty-free dependent on the number of vehicles it manufactures locally.

Source: Expansión (sp)

Billion-dollar bet by One & Only Resorts

Billion-dollar bet by One & Only Resorts

A beach at Mandarina in Nayarit.

A beach at Mandarina in Nayarit.

Mandarina is residential project, hotel in Riviera Nayarit

 

An international ultra-luxury resort operator is making a billion-dollar bet on a new oceanfront residential development in Nayarit, just north of the Pacific coast city of Puerto Vallarta.

One & Only Resorts, owned by the Dubai-based company Kerzner International Holdings Ltd., is selling private homes in the US $1 billion Mandarina project, located around 50 kilometers or less than an hour’s drive from Puerto Vallarta in the Riviera Nayarit.

It is the first time that One & Only Resorts has put its brand on a residential project. Kerzner partners RLH Properties and RSC Development pre-sold the first branded residences late last year.

A total of 55 residences make up the first phase of the project, which was designed by Arizona-based architect Rick Joy to incorporate the natural environment including jungle vegetation and cliffs which drop down to the Pacific Ocean.

Each residence is priced between US $4 million and US $12 million. There is also a 108-room One & Only hotel.

A later stage of development will add another section of residences and a second hotel as well as a beachfront polo field and an equestrian center.

“The community that these people are buying into, they realize that this is the last large tract of land,” said Ricardo Santa Cruz, CEO of RSC Development.

“It’s very difficult to replicate, if you’re interested in this part of the country.”

Santa Cruz began acquiring land for the Mandarina project in 2008. With backing from a private-equity firm in which Goldman Sachs was an investor, he eventually purchased properties owned by 58 families.

The land was placed in a new company, RLH Properties SAPIB, and in 2015 shares in the company were sold to the public.

The new development comes amid a construction boom that, since 2011, has increased the number of luxury hotel rooms in Mexico by 33%, according to lodging industry provider STR Inc.

Last month, hotel chain Hilton announced that it was planning five new properties in Mexico, including a luxury Waldorf Astoria hotel in Cancún, Quintana Roo.

One & Only has one property already in operation in Mexico, the luxury Palmilla resort in San José de los Cabos, Baja California Sur. It is also developing another property about 100 kilometers south of Puerto Vallarta called Santa María de Xala.

Source: Bloomberg (en)

Dutch investment in Mexico totals over US $45bn

Dutch investment totals over US $45bn

Dutch-built Damen patrol vessels are used by the Mexican Navy.

Dutch-built Damen patrol vessels are used by the Mexican Navy.

Netherlands is second-largest foreign investor in Mexico

 

Almost everyone knows about United States and Canadian investment in Mexico thanks to the ample information provided regarding the North American Free Trade Agreement. But how many people are aware of Dutch investment in Mexico? Not many, probably.

Yes, the Dutch can be secretive and sly in trade, but the fact is that the Koninkrijk der Nederlanden, or Kingdom of the Netherlands, is the second — yes, second — largest foreign investor in Mexico with an amount totaling more than US $45 billion.

The larger companies may be known as they have been around for a while —Royal Dutch Shell, Philips with its electronic components and units, and Unilever with a host of consumer goods. However, the real growth is among lesser known companies which, with that great Dutch commercial wisdom, see opportunities that no one else does in Mexico.

They can not only see the opportunities but they make them real. This is the true talent of the Netherlands and its business community.

The Netherlands is a geographically small yet strategically located country that forms part of the European Union. It has long promoted free trade and international commerce. Its principal port, Rotterdam, has for more than two centuries been a center of international shipping.

The Benelux (Belgium-Netherlands-Luxembourg) customs and trade union that emerged in the years following the end of World War II was the first of its kind in Europe and is the ancestor of today’s European Union (EU).

To survive in the 19th and 20th centuries the Dutch often had to do the impossible — dikes that extended the land area, a dedication not just to shipping like their close British neighbors but a gradual understanding that doing business abroad was not based on jingoism and domination but cooperation, and a profound understanding of other cultures and how they work on a local level.

The Dutch were a colonial power but soon learned that for them this was not an efficient (or ethical) way of living in the world and doing business with that world.

After Shell, Philips and Unilever there is a much longer list of Dutch companies, most of which are unknown except to sector specialists, that do the bulk of the business in Mexico:

• Damen, one of the world’s largest shipbuilding companies, has constructed 60 of the most modern container ships and gas and oil tankers for Mexican companies;

• Vopak, which produces large-scale storage equipment for gas, oil, and chemicals — vital in a world economy where gas and oil prices may fluctuate enormously; and

• Poultry sector companies Gasolec, Vencomatic and above all Pas Reform, which means that virtually no egg or chicken that is consumed in Mexico gets to market without having been touched by Dutch technology at one point or another.

And there are a host of others.

What is still more promising is the large number of Dutch companies just waiting to get in the door as improved commercial relations between Mexico and the EU are on a fast track given uncertainty regarding the future of the trade agreement with Canada and (especially) the U.S. grows.

Among these are Dalsem, a high-tech greenhouse producer, and Van Aarsens, a feed producer for cattle, swine and poultry, both of which are already canvasing the nation with demonstrations of what they can offer.

One prominent businessman, Ranulfo Ortiz, who has long worked with Dutch firms, was asked what it was like to work with companies from a country that is seemingly so different from Mexico. He replied: “Dutch companies are very precise. The work we do with them requires us to do our homework and for them to correspondingly do theirs. Cooperation is easy with companies that set a common terminology for projects — results of the Dutch capacity for doing business abroad and their excellence in management.

“Also, quite differently from most U.S., Canadian and other companies, they truly listen to what our local company needs are and what the clients need and want. Absolutely no one does follow up with clients like the Dutch do.”

There are also other benefits with Dutch companies. The Netherlands has a profound commitment to ecological awareness and environmental protection. The country is a model for what the world will need for the future: working in a global economy that respects the needs and desires for local, national, and international communities and carefully developing adequate technology that enhances the efforts of local business and industry and is free of harm.

Not bad for a “tiny” country that was once known only for wooden shoes and tulips, now a leader and a model to follow for international commerce.

The writer has lived and worked in Cuernavaca, Morelos, for nearly 50 years.