11 reasons why Americans are chasing the “American Dream” in Málaga

The “American Dream” has long been synonymous with the pursuit of prosperity, success, and a better quality of life. Traditionally associated with the United States, this concept is now expanding beyond American borders, with an increasing number of U.S. citizens seeking to fulfil their dreams in other parts of the world. One of the most popular destinations for this modern-day pursuit is Spain’s Costa del Sol. This region is located in the province of Málaga, in Andalusia, and stretches from Nerja to Estepona, passing through the cities of Málaga and Marbella. With its sunny climate, rich cultural heritage, and outstanding lifestyle, the Costa del Sol is emerging as the new frontier of the American Dream.

Málaga’s appeal to Americans is not just anecdotal; it’s supported by numbers. Between 2019 and 2023, the number of U.S. citizens officially residing in Spain grew by 16%, from 39,812 to 46,261. Many of these new residents are choosing Málaga and its surroundings as their new home and Marbella, in particular, is a hotspot for those looking to invest in luxury real estate. With its reputation as a playground for the wealthy and famous makes it an attractive option for American investors and expatriates alike.

From the thriving real estate market to the exceptional lifestyle, here we explore the key reasons why Málaga is the top choice for Americans seeking a new chapter abroad.

1. Accessible healthcare

Spain boasts one of the best healthcare systems in the world. For Americans, healthcare costs in Spain, even with private insurance, are significantly lower than those in the U.S., offering high-quality care at a fraction of the price.

2. Affordable cost of living  

The average cost of living in Spain is around $1,383 (€1,254) per month, which is 43% less expensive than in the U.S., where it averages $2,433 (€2,204) per month. While costs can vary between different cities in Spain, they remain significantly lower than in the United States. This affordability allows residents to enjoy a high quality of life with much lower expenses.

3. Direct flights from NYC  

Málaga Airport connects directly to over 136 cities. Actually, United Airlines now offers direct flights between Málaga and New York City. It operates from May through October, positioning Málaga as the third Spanish city, alongside Madrid and Barcelona, with a daily direct connection to New York.

4. Favourable climate  

Málaga is ranked fourth among Spain’s sunniest cities, following Alicante and Murcia, with 345 days of sunshine annually and an average monthly temperature of 20°C. The warm weather allows for year-round outdoor activities and contributes to the region’s overall appeal.

5. Safety and stability  

Spain offers a stable political environment and a strong legal framework, ensuring safety and security for residents. This peace of mind is a key factor in choosing the country as a place to live and work.

6. Outdoor lifestyle  

Whether it’s hiking in the nearby sierras, yachting, kitesurfing, horse riding, or playing tennis, there are numerous activities to enjoy due to its perfect combination of sea and mountains. Additionally, Málaga boasts over 70 golf courses—more than any other province in Spain and more than all of Catalonia combined. This makes it a premier destination for golf enthusiasts, particularly along its famous Costa del Sol. 

7. Thriving tech scene 

The city of Málaga, just 60 km (37 miles) from Marbella, is rapidly becoming a tech hub, with Málaga Tech Park hosting over 600 companies (such as Oracle, Google, Accenture and RavenPack) from 21 countries. This innovation centre is attracting global talent and fostering a dynamic business environment, making Málaga a new Silicon Valley in Europe. 

8. Digital nomad-friendly  

According to NordLayer’s Global Remote Work Index 2023, Spain is the 4th best country in the world to work remotely. One of the reasons is that Spain has introduced a special visa for digital nomads, allowing non-EU residents to work remotely for companies based outside of the country. Initially valid for one year, this visa can be renewed for up to three years, offering a flexible and appealing option for remote workers looking to settle in Málaga province.

9. Booming real estate market  

The real estate market in Málaga is thriving, with prime areas in Marbella seeing over 50% growth in prices per square meter from 2019 to 2023. Returns on investment can reach up to 8% to 10% per year. Driven by high demand for short-term rentals, Spain’s stable economic environment and secure setting make it an attractive place for investment. Purchasing luxury villas or holiday homes in Málaga offers an ideal lifestyle and a lucrative opportunity to earn income from rentals.

10. Multicultural and friendly atmosphere 

The people of Andalucía are known for their warmth and hospitality. Málaga’s vibrant multicultural environment is evident from recent statistics: in the first quarter of 2024, the city welcomed 3,226 new residents, reaching a total of 1,774,447 inhabitants. This growth, which ranks fifth in Spain, is attributed entirely to people born outside the country. This diverse population contributes to a rich cultural tapestry and a welcoming atmosphere for newcomers.

11. Top-tier education

The Costa del Sol stands out for its diverse educational options. The region boasts a robust, reputable education system, with private schools that rival the best in Spain and worldwide. Parents can choose between Spanish state schools, which offer full immersion in the language, or international schools, providing bilingual education and a strong foundation in English. Private school fees range from €2,000 to over €10,000 annually, depending on quality and location, and are generally lower than in Northern Europe and North America. This makes it an attractive option for families, ensuring that children receive a high-quality education in a multicultural environment.

These factors combined make Málaga a compelling choice for Americans looking to experience the best of both worlds: the opportunity to chase their dreams in a location that offers an enviable quality of life.