La Jolla, CA (PRWEB) May 15, 2008
Inspired by the wave of 76 million Baby Boomers who will be retiring over the next few years, the 2B Alive Assisted Living Summit in La Jolla, Calif., in early May attracted more than 200 industry leaders to discuss opportunities for American retirees in Mexico. Sponsored by the Mexican Association of Retirement Communities (AMAR), the Assisted Living Summit focused on building a greater quality of life in Mexico for the world's retirees.
According to officials from AMAR, approximately 1 million Americans currently reside in Mexico. A recent research study conducted by the University of Texas indicates that the average age of Americans living in Mexico is nearly 68 years old, with 94 percent of them Caucasian and 71 percent of them still vote in U.S. elections. The study showed that retirees in Mexico contemplated the move for five years and end up living in Mexico for eight to 10 years. Reasons cited were the low cost of living and the climate.
Held at the Estancia Hotel in La Jolla, the inaugural 2B Alive Summit included speakers from Canada, the United States and Mexico. Mitch Creekmore, a Texan by birth who now works in Mexico for Stewart Title and author of "How to Cash in on Real Estate in Mexico," said new tax incentives have been created in Mexico to attract real estate developers from the U.S. to Mexico to be operators of resorts and retirement facilities. He also said that stringent foreign investment laws in Mexico protect foreign money that is invested in the country.
According to Chuck Kinder of Golf Publishing International magazine, another speaker at the conference, Mexico is the No. 1 golf destination for Americans and Canadians. He added that $300 billion in real estate is currently in development in Mexico and one third of it is in golf course communities.
Many of the speakers at the conference agreed that infrastructure is the top necessity in Mexico in order to take care of the retirees already in Mexico and those to come. This infrastructure includes airport expansions, more highways and more hospitals and medical facilities on par with those in the United States.
"Our goal is to promote Mexico as a place to retire and to attract interest in a senior housing and care industry that's just beginning to develop," said Javier Godinez-Villegas, president and CEO of the Mexican Association of Retirement Communities. "The 2BAlive conference brought together entrepreneurs, investors, developers, landowners and operators to network, share information, form new business relationships and to discuss how investments in this industry can be brought to Mexico. It was a huge success."
"I'm delighted to see this industry mature," said Paul O'Sullivan, who developed a binational public health policy project implemented in five Mexican and four U.S. states and was another speaker at the summit. "With demand for top-quality assisted living communities clearly outstripping supply in the United States, there are dynamic opportunities in international real estate development and resort health care services throughout Mexico that Americans are going to want to hear about."
The Mexican Association of Retirement Communities is a non-profit organization committed to creating a future for senior living in Mexico that gives new meaning to retirement. AMAR continuously raises the bar for operational excellence, paving the way for active adults to enjoy life after retirement through independent and assisted living opportunities that offer a sense of freedom, trust, well being and security. The organization serves as a link for active seniors and their advocates, to inform them and advice them on high quality lifestyles, access to services, and to help anybody in need of assistance with their long-term care in Mexico. For more information, visit http://www.amar.org.mx/.