Geographic Arbitrage (Cost of Living)
One of the big draws for expats and digital nomads looking to move to Latin America is the cost of living. While this definitely should not be the only reason to move to Latin America, it is a major factor for most. Geographic Arbitrage allows you to take advantage of the low cost of living in Latin America while earning money online from somewhere else. The lower cost of living can give you more time for your business to take off or allow you to have a higher standard of living than back home.
Want to get a taste of just how cheap Latin America can be? Check out the prices on Airbnb. You can often find beautiful apartments and houses right in the best parts of town for the fraction of a price that a hotel would cost.
One other reasons people are looking at getting out of the US or Western Europe to move to Latin America is that they are tired of overreaching western governments. While Latin America is definitely not free of intrusive governments (I'm looking at you Ecuador), for the most part they are a bit more Laissez-faire. Take starting a small business for example, while there may be a lot bureaucracy and waiting in lines up front, once you're up and running, you're not likely going to have deal with any of that again.
Another big factor is the climate. Depending on what climate you want, you can probably find it in Latin America. However there are two specific climates that attract most to the region. The first is the beach. If you are sick of winter and love the heat, then there are dozens of great beach towns and cities in the tropics of Latin America. Some examples include:
Puerto Vallarta, Mexico
Rio de Janeiro, Brazil
The other climate that is a bit less known to people not familiar with the region is the altiplano or "high plain" in english. The altiplano is a region that stretches down the center of most Latin American countries where the latitude is still within the tropics, but the elevation is more than a few thousand feet. This combination allows for spring-like weather all year round. We're talking 70-80 F all year. For many people, this is truly the perfect climate. Some examples include:
San Miguel de Allende, Mexico
Now all of the above may be valid reasons to consider moving to Latin America, but if you're not sold on this final reason, the cultural experience, you may have a tough time. You need to have some sort of interest, hopefully more than some, if you're going to make it down here. Otherwise some of the idiosyncrasies and inefficiencies may end up driving you crazy. However, in my opinion, the positives greatly outweigh the negatives. People are generally very pleasant, the history is rich, and the food can be amazing is places such as Mexico and Peru.
Ready to Take the Leap and Move to Latin America?
If you're interested in moving to Mexico, you'll definitely want to check out The Starter's Guide to Mexico. The guide will cover everything you need to know to get started with your move including:
How you can move to Mexico TOMORROW
How to apply for residency and obtain citizenship and a Mexican passport
How to buy property, open a bank account, and start a corporation
The Starter's Guide to Mexico is essential for anyone considering living or investing in Mexico.
Need Some More Help With Your Move Abroad?
If you are interested in moving to Latin America, but still have some reservations or questions about life down there, I highly recommend using Vance's services from My Latin Life. Vance has spent over 7 years living and traveling throughout Latin America. He can help you with your move abroad by answering common questions such as how to find an apartment, start a business, meet people, and stay safe. He can also answer any questions more specific to your personal situation. This guy has done it all down there, if you have any doubts or reservations, Vance can definitely help you out! If you'd like to learn more about Vance's services, click here to check out his consulting page.