The political turmoil in Latin America in recent decades, marked by the breadth of left-wing governments, caused a new exodus of citizens, including businessmen and wealthy people, to the US and Europewith cities like Miami and Madrid as key objectives, highlighted a report published this Saturday by the New York Times.
Lots Wealthy Latin Americans have started moving their money out of countries where left-wing presidents ruleas in Mexico, Peru and Chile, where Gabriel Boric took office in March.
On the other hand, Spain offers migration benefits such as the so-called golden visa to people who spend more than 500,000 euros or 550,000 dollars on a property. what’s more Latin Americans can obtain citizenship after two years of legal residencecompared to the ten required for other nationalities or the five required for refugees.
So said Jorge Neri, a Venezuelan who owns a media company in Madrid The Spanish capital offers better investment opportunities than Miami. “I think Madrid has established itself over Miami, partly because prices in Miami have skyrocketed,” he added.
So said Gilberto Carrasquero, a Venezuelan business consultant who was consulted by the US media Many Latin Americans have sold their properties in Miami to shop Madridwhere Venezuelan and Mexican real estate developers have bought and renovated entire buildings.
“When Venezuela went into crisis and we started going, it seemed like Miami was the natural place for us to go and that’s exactly what I did, but Madrid feels a lot more like my home now.”said Carrasquero, who is currently applying for Spanish citizenship.
In recent years there has also been an increase in the number of Cubans emigrating to Madrid Miguel Díaz-Canel himself described the Spanish capital as “miamization”.
the Mass protests by Cuban exiles in Madrid They have shown the growth of the island’s citizen community in the Spanish capital, which the official Cuban press compares to Miami on numerous occasions.
Neri himself said that now he sees more people from other Latin American countries, many of them worried about “left-wing politics”.
A real estate agent based in Madrid Eighteen years ago, Bruna Denegri told American media that her Peruvian clientele had at least quintupled since July, when Pedro Castillo won the Latin American country’s elections.
Dani Levinas, an Argentine who heads the board of directors of the Phillips Collection, an art museum in Washington, has been telling the NYT for some time divides his life between the US capital, Miami and Madridwhere he bought an apartment six years ago.
Levinas said he chose to live in Madrid after visiting Arcoan art fair that brings together many Latin American artists and collectors as he discovered numerous assets that the city offers.
“Personally, I feel much more comfortable in Madrid now than in Miami because of the lifestyle and culture. (…) In Madrid I live in about eight theaters, so I can see a different show every week without having to take a single cab, and those kinds of opportunities don’t exist in Miami,” he added.
The American media said so too heLatin Americans have been rapidly expanding their business presence in Madridas they have bought commercial properties and hotels, including the five-star Rosewood Villa Magna, which reopened last October after a renovation funded by its Mexican owners.
Although Spain is a country plagued by unemployment, must absorb hundreds of thousands of migrants each year to compensate for the aging population and avoiding labor shortages in key sectors.