More and more people are choosing to pursue an MBA in Mexico, a regional powerhouse starting to emerge as a global political, cultural, and economic force. It can boast the highest number of UNESCO World Heritage Sites of any country in Latin America, with one of those – Chichén Itzá – also classed as one of the Seven Wonders of the World. But, Mexico is perhaps most famous for its cuisine. Avocado, tomato, zucchini, chocolate, and jalapeños are all native to Mexico. Meanwhile, you’re likely to find Mexican restaurants serving tacos, quesadillas, and enchiladas all over the world. A country with such a rich cultural output certainly makes for an amazing place to live and study.
The Mexican government has made huge commitments to invest in higher education, promising 100 new universities and almost two million extra university places. It is symbolic of Mexico’s growing status as a highly-developed, 21st-century country. With some of the highest-ranked universities in Latin America, a totally unique way of life, and much cheaper living costs than the rest of North America, it’s easy to see why so many international students choose to study in Mexico.
Frequently Asked Questions
FAQ
How much will it cost to live and study in Mexico?
Do I need to get a visa to live and study in Mexico?
International students who plan to study in Mexico must visit their regional Mexican Consular office and apply in person for a Student Temporary Resident Visa. The fee for a Mexico Student Visa is around US$36, though prices may vary depending on the country in which you submit your application. Temporary Resident Student Visas are valid for six months. Once you arrive in Mexico, you are required to exchange your visa for a temporary resident student card at the National Migration Institute (INM).
How reputable are universities in Mexico?
The country’s top universities, including Tecnológico de Monterrey and Universidad Nacional Autónoma de México (UNAM), have been rising the rankings in recent years to sit on the fringes of the global top 100. IPADE Business School, meanwhile, is seen as one of the best business schools in the world in North America outside of the USA.
What is the job market like for graduates in Mexico?
There’s no getting away from the fact that graduates in Mexico will enter a tough job market and developing economy. However, it should be noted that less than 20% of the adult population hold a university degree of any kind, so entering the job market with a master’s or MBA will put you at a huge advantage.
Are there a lot of international students in Mexico?
The majority of international students in Mexico are from its neighboring countries and make up around 1% of the total student population. However, with very affordable living costs, an amazing quality of life, and some of the best universities in Latin America, international student numbers in Mexico are on the rise.
Did You Know?
Fun Facts About Mexico
1
Mexico has the second-largest economy in Latin America.
2
Mexico has one of the most biodiverse countries on the globe, due to its privileged geographical location, climate, and diverse topography.
3
US citizens make up the largest expat group in Mexico.
4
The top industries in Mexico include high-tech, oil production, mineral exploitation, and manufacturing.
5
Given the country’s rapid growth, its population is disproportionately young, with more than one-fourth of Mexicans under 15 years old.
Which Visas & permits do in need in Mexico
International students who plan to study in Mexico must visit their regional Mexican Consular office and apply in person for< a Student Temporary Resident Visa. The fee for a Mexico Student Visa is around US$36, though prices may vary depending on the country in which you submit your application. Temporary Resident Student Visas are valid for six months. Once you arrive in Mexico, you are required to exchange your visa for a temporary resident student card at the National Migration Institute (INM).
If you would like to work in Mexico after graduation, we recommend you start looking for a job well in advance. Once you receive a job offer, your employer must apply for a work permit on your behalf at the National Immigration Institute.
Banking in Mexico
Opening a bank account in Mexico will make it much easier to manage your finances. A Mexican bank account will also save you on transactional and ATM fees, there making shopping and day-to-day transfers much more convenient. Additionally, many apartment rentals in Mexico only accept transfers through a local bank.
Popular banks in Mexico for foreign nationals include BBVA Bancomer, Banamex, and Banorte International. International banks with branches in Mexico include Santander, Scotiabank, and HSBC. To open an account, you will need to visit a local branch of your chosen bank with your passport, student visa, and proof of enrolment from your university.
What do I need to know about healthcare in Mexico
The public healthcare system in Mexico is unavailable to international students. This means that you’ll need to visit a private practitioner or a private hospital during your stay in Mexico. Most private doctors and hospitals will require you to provide proof of insurance or payment upfront before they provide you with care. In most cases, your university will also ask you to provide proof of health insurance coverage, which they can also assist you in securing. Your private health insurance must have full coverage for sickness, emergencies, and repatriation, essentially covering all medical expenses in Mexico. Health insurance will typically cost you between US$140 and $350 per semester. In most cases, your university will be in touch to organize your insurance.
Housing options for students in Mexico
It is uncommon for Mexican universities to provide on-campus accommodation. However, in most cases, your university’s international office can provide you with personalized assistance in finding accommodation. A majority of international students in Mexico opt to rent a private room in a shared apartment with other students. You can easily find a range of shared student housing options with fully furnished rooms specifically catered to international students. Renting a private room in a shared apartment costs between MXN5,000 and 8,000 (US$255-408) per month.
What are the public transport options in Mexico
The public transport network in major cities in Mexico is comprehensive and relatively inexpensive. In Mexico City, for example, you have the option of taking the metro, a bus, or a Colectivo (shuttle bus). The metro in Mexico City is well-connected and usually costs around MXN15 (US$0.76) per journey. If you live in a large city, you also have the option of getting an Uber or a taxi at affordable rates.
Driving is generally not recommended. However, it can give you the flexibility to visit remote places otherwise inaccessible via public transportation. If you intend to drive in Mexico, you will need to apply for an International Driving Permit.
How much does a Big Mac cost in Mexico
The Big Mac Index was invented by The Economist in 1986 as an informal way of measuring the purchasing power parity (PPP) between two currencies. The price of a Big Mac in Mexico is MXN69 (equivalent to US$3.52, EUR€3.28, and JP¥448). For US$50, you can buy 14 Big Macs.
