With its vibrant culture, stunning landscapes, ancient ruins, and lively cities, Mexico is an affordable destination with visa options for digital nomads. Here’s what it means to be wealthy in Mexico and how far your money might go.
Mexico was the fourth most searched-for country on Numbeo for Americans looking for information on visiting or moving in 2024, and it’s easy to understand why, not just because of its proximity. Mexico has many must-see attractions—jungles, cathedrals, ancient temples, and mighty beaches—and its archeology and scenery are exemplary, and its food and nightlife legendary.
U.S.News placed Mexico at number 34 in its overall ranking of best countries in 2024, notably ranking the country highly for its heritage (cultural attractions and food) and its adventure (its climate, scenery, and fun).
Mexico City was number 7 on Time Out’s Best Cities 2025, notably because of how friendly and relaxed every neighborhood seems and how everyone can easily feel at home. That might be because residents of Mexico City are happy—96% say the city makes them happy and that they find joy in their city’s everyday experience.
Likewise, Bloomberg named Costa Palmas in Mexico one of the 25 best places to visit in 2025. You can find surfers en masse in September and October and the stunning beachfront resorts on the tip of the Baja California peninsula belong to a new sustainable model for Mexican tourism, where everyone can participate in beach cleanups, sea turtle release parties, toy drives, and other volunteer opportunities, all looking to connect guests with residents in nearby villages.
Being Wealthy In Mexico–Mexico’s Cost Of Living
When taken globally, a comparison of the cost of living in Mexico is lower than it is in many other countries such as the U.S., the U.K., and France, where the cost for a single person per month, not including rent, is as follows:
- Switzerland: $1,659.
- France: $1,200.
- U.S.: $1,166.
- Germany: $1,139
- U.K.: $1,095
- Canada: $1023.
- Italy: $905.
- Latvia: $874.
- Greece: $832.
- Malta: $801.
- Spain: $731.
- Thailand: $650.
- Mexico: $637.
- Portugal: $592.
Furthermore, when you factor in rent, it becomes clear that Mexico offers more again for your dollar per square meter. The cost of living in the U.S. is 82% higher than in Mexico, but if you factor in the average rent price, the cost of living in the U.S. is 105% higher than in Mexico.
Being Wealthy In Mexico–Mexico’s Average Annual Salary
The OECD Better Life Index, which measures economic, environmental, and health indicators across all its 38 member countries (including the U.S., the U.K., and many EU countries), states that Mexico’s average household net-adjusted disposable income per capita is $16,269 annually. This is far less than the OECD average of $30,490 a year.
Regarding paid work, 59% of people aged 15 to 64 have a job, compared to the OECD average of 66%. In addition, 27% of employees work incredibly long hours, while the OECD average is 10%.
Mexico is a land of extreme wealth and poverty, and compared to other OECD members, it underperforms the average in income, jobs, education, health, environmental quality, social connections, safety, and life satisfaction. However, the OECD does praise the progress that Mexico has made in the past ten years in improving the quality of life for its residents.
Being Wealthy In Mexico–Average Net Worth And The Top 10%
Statista data shows that Mexico is one of the most unequal countries in Latin America in terms of wealth distribution. That’s to say that almost 80% of the country’s wealth is in the hands of just 10% of the population.
In 2022, almost 400,000 adults in Mexico had a net worth of over $1 million; by contrast, 40% of adults had a net worth of under $10,000.
Out of 3,028 global billionaires, 14 billionaires call Mexico home—the U.S. has more than any other country, 902, with China home to 516 billionaires (including Hong Kong), with India in third place at 205.
Being Wealthy In Mexico—Getting A Golden Visa Or A Digital Nomad Visa
Mexico doesn’t have a digital nomad visa program. Still, it has something similar in that Americans can apply for a ‘temporary residence card’ if they earn more than $2,595 per month and can prove they have done so for the past six months. You can stay for up to four years, depending on specific criteria.
While challenges like income inequality remain, Mexico’s allure lies in its ability to offer a rich cultural heritage, natural wonders, and modern visa opportunities. Whether you’re drawn by its affordability, sustainable tourism initiatives, or welcoming communities, Mexico could be an attractive option for those looking to explore or relocate.