Do you work remotely?
Inflation in the US is killing you?
No problem. Many Americans have chosen to migrate to the neighboring country to improve their standard of living and… many Mexicans are not liking that.
Now, with the popularization of remote work and high inflation in the United States, Mexico City has become a destination for many.
In Mexico, yearly US temporary residents have gone up by 75% in 6 years, and the country is now home to 1.6M US citizens.
A new form of migrant, the “digital nomad,” has sparked some resentment and pushback, as migration frequently does.
In Mexico City, some locals claim that the influx of digital nomads and accompanying rent increases push them out to less desirable areas, and “taco stands are being replaced with yoga studios.”
The process of new, wealthy residents displacing existing, poorer ones is called gentrification, and its effects (both negative and positive) are well-studied.
It’s easy to see the immediate economic impacts of these migrants and be critical of them.
But it’s undeniable that their presence boosts the economy with an inflow of capital, reducing crime and attracting further investment.
Research by Prithwiraj Choudhury (@prithwic) at Harvard Business School proposes that digital nomads may also be useful for fostering entrepreneurship, exchanging ideas, and advancing innovation.
Many countries are awakening to the economic boost and offering competitive “digital nomad visas.”
NomadList by @levelsio ranks the leading cities for digital nomads worldwide, and Mexico City is currently #7.
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