Mexico is in North America, bordering the Caribbean Sea and the Gulf of Mexico, between Belize and the United States and bordering the North Pacific Ocean, between Guatemala and the United States. The climate varies from tropical to desert. The official language is Spanish. Mexican Spanish contains many words and phrases that are particular to the country and tend to be more florid and less direct than peninsular Spanish. There are no significant differences in the Spanish of different regions, only in accent: costeños (Mexicans from the Pacific and Caribbean coasts) can be harder to understand. English is spoken by hotel staff and some business people, particularly in the US border region, the big cities and popular tourist resorts. Many indigenous languages are spoken in the remote rural areas, such as the Mayan communities of the Yucatan. The main religion is Christianity. The economy of Mexico is the 11th largest in the world and is a free market mixed economy, and is firmly established as an upper middle-income country The economy contains rapidly developing modern industrial and service sectors, with increasing private ownership. In Mexico conversations take place at a much closer physical distance than expatriates may be accustomed to at home. Stepping back during conversation may be regarded as unfriendly. The security risk for expatriates in Mexico is medium to high. Risks include violent and opportunistic crime, violence during clashes between rival gangs / the security forces, and kidnapping. The currency of Mexico is the Mexican Peso (MXN). International debit and credit cards are widely accepted for payment and in ATMs. Good private medical facilities are available but can be expensive. Payment may be required up front. Cases of Zika virus and Chikungunya virus, as well as cholera have been reported. The population of Mexico is 123.7 Million (2019 est.), while the inflation rate (CPI) is 4.41% for Mexico as at April 2019. Xpatulator Hypothetical Tax for Mexico is based on the current personal income tax rates which are progressive up to 35%.
Cost Of Living
The cost of living for expatriates / professional migrants in In Mexico, the cost of each basket, based on local prices, compared to the international average, is categorized follows (Exact cost of living percentages only available in personalised reports): Mexico as at 1 April 2019 is low in comparison to other places in the world. 1) Alcohol (where available) & Tobacco: Average 2) Clothing: Very High 3) Communication: Very Low 4) Education: Very Low 5) Furniture & Appliances: Very High 6) Groceries: Average 7) Healthcare: Average 8) Household Accommodation: Average 9) Miscellaneous: Very High 10) Personal Care: Average 11) Recreation & Culture: Average 12) Restaurants Meals Out and Hotels: Low 13) Transport: Very Low Mexico is for example -6.3% cheaper than USA for groceries, -13.3% cheaper for household costs than UK, and 44.8% more expensive for transport costs than India. The hardship premium for Mexico for an expat from Australia, is for example 20%, i.e. host location (Mexico) premium of 30% minus home (Australia) location premium of 10%. Mexico is ranked as a high degree of hardship location. Want to know more about cost of living, hardship (quality of living) or expat salary in Mexico? Register subscribe to your home location and Mexico and run your personalised reports.