Coat of arms of Mexico. (Photo credit: Wikipedia)
While the U.S. and European economies struggle to survive during 2013, the Mexican economy is expected to grow over 4% during the year. The continued grow of the country economy and business can be seen in the multinational expansion of the country companies from giants such as Telmex in telecommunications, and Cemex in construction materials, to companies like Fernandez Hinojosa Logistics in the supply chain and logistics business segment.
With over 100 million inhabitants, and an economy that exceeds $1.75 trillion, and unemployment below 5%, Mexico is not just one of the biggest economies in Latin America, but it holds the 12th place on a worldwide basis, and one that surprised many economists by growing faster than even Brazil’s during 2012. According to Forbes, the new president Enrique Peña Nieto, promised reforms that include “zero fiscal deficit, and reduced government operational spending”. The economic trend is even potentially making many citizens of la madre patria (Spain) to reconsider their employment and future opportunities, and some of them are starting to move to Mexico in search of new economic and social opportunities.
The primary challenge that Mexico may be facing now is the perception of indiscriminate violence caused by the current drug cartel wars, as seen in popular news shows and newspapers worldwide. While this is true, I have visited Mexico over 30 times in the last 10 years and have still to witness or suffered a single violent act myself. I have friends all over, from Mexico City, Guadalajara and Monterrey, to Cancun, Cozumel, and many other places, and they are some of the most friendly and welcome people I have ever met. The country is on the mists of an economic development, and taking the necessary measures to improve the economy, reduce crime, and redirect the energies into the creation of a new beginning, and it welcomes entrepreneurs and established companies to participate on it.
Mexico is for an exporter or importer one of the best places to conduct your business. It currently holds FTA (free trade agreements) with over 40 different countries and it is one of the primary export/import partners with countries such as the U.S., Brazil, China and many others. Entrepreneurs are starting to take advantage of the country’s growing educated workforce, their solid business and communications infrastructure, and the newfound political and economic stability. If you are a U.S. entrepreneur looking for an opportunity to expand your business, Mexico should be one of the first ones to consider in your list.
Some additional Articles about Mexico and it’s economic development include:
- Mexico: the engine that just keeps on chugging (blogs.ft.com)
- Mexican President Establishes National Institute of the Entrepreneur (hispanicallyspeakingnews.com)
- Spanish economic outcasts seek opportunities in Mexico (theguadalajarareporter.com)
- Can Mexico’s New President Protect Its Economy? (fobes.com)
- Bloomberg Mexico Economic Summit (bloomberglink.com)
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