Language--Because the economy in PV is based on tourism, it is imperative to speak English. Therefore, it is estimated that at least 80% of the younger generation is now speaking or at least understanding English. Communication is not a problem in Vallarta and there is no need to learn Spanish.
Travel Time--Although Vallarta is on the same latitude as Hawaii, it is only two to three hours from most of the US cities. Even the highways coming down from the US are now all super modern tollroads and the drive to PV can be made in two days from the border.
Connectivity--With high speed internet service available citywide, internet based telecommunications, and satellite TV available everywhere, you have the same contact with the world that you would have anywhere in the US or Canada.
Activities--World class deep sea fishing has been for years, and will always be, a major activity in Vallarta. There are now seven beautiful golf courses with more under construction. There are hundreds of tennis courts, water activities, night life galore, and too many clubs and organizations to mention. If you have nothing to do in PV, it’s only because that’s your choice!
Cost of Living--The cost of basic staples is about the same as in North America, however, housing is roughly half the cost and housing related taxes are a fraction of those in the States. All services are a half to a third of those in the US including medical and dental care because labor rates are so much lower. The cost of dining, outdoor activities, etc., are pretty much in line with those in the States.
Economic Security--The Mexican peso, at approximately 10.8 pesos per US dollar, has held firm for the past ten years. There are no devaluation concerns at this time as the Mexican economy booms.
Political Security--The PAN party has ruled in Mexico since 2000 and will remain in power at least until 2012, assuring a twelve year consecutive run of Mexico being governed by Harvard graduates! Needless to say, they are pro-US and friendly to the North.
Investment--Property values have tripled during the past ten years and are expected to double again during the next five years. With the booming economy, the Mexican stock market has also tripled during the past ten years. There is no slow down of growth in the foreseeable future.
Hopefully, the above 15 items will provide some explanation for the booming economy and explosive growth in Vallarta. They say that the party’s not over, that it has only just begun. The Mexican National Tourism Development Foundation (Fonatur), has designated a 30 mile stretch of pristine Pacific Ocean shoreline north of Vallarta as the new Riviera Nayarit, where more than five billion dollars will be invested during the next ten years creating 30,000 new jobs as they build close to 20,000 new condos, villas, hotels, etc. As the North Americans continue to flock to Paradise, the infrastructure growth and future planning activities continue at a torrid pace.
Fortunately, Mexico has been governed by US friendly Harvard graduates for the past seven years and will be for at least the next five years, thus assuring a safe and secure real estate investing environment well into the future for retiring North Americans. If you’re retired or close to retirement, you ought to check out Vallarta before it’s too late. If you’re fortunate, you’ll be included in the next 100,000 gringos that migrate to Paradise!
Jim Scherrer has owned property in Puerto Vallarta, Mexico for 25 years and resided there for the past eleven years. The mission of his series of 47 articles pertaining to retirement in Puerto Vallarta is to reveal the recent changes that have occurred in Vallarta while dispelling the misconceptions about living conditions in Mexico. For the full series of articles regarding travel to and retirement in Vallarta as well as pertinent Puerto Vallarta links, please visit us at PVREBA.
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