As the government attempts to open strategic sectors of the economy to competition and attract more foreign direct investment (FDI), much is also being done to improve science and research as a means to spur innovation. Increased spending, coupled with changes in regulation, is expected to fuel the growth of start-ups and make the business environment more dynamic. The current government has...
The farthest north-west state in the country with a total population of over 3.3m, Baja California’s access to tangible resources – natural gas, water and electricity – and a qualified workforce distinguish the state from other investment regions. The state’s GDP saw a decrease of more than 8% in 2009 due to the economic crisis in the US. Despite this setback, economic recovery has been under...
Despite accounting for just 1.7% of Mexico’s population and 2% of the economy, Querétaro is, in many ways, a picture of the country Mexico wants to become. Home to more than a dozen universities that work closely with local industry to produce a qualified workforce, Querétaro also stands out in terms of security and links to population and transport centres. The state government aggressively...
At 17% of GDP, manufacturing is a pillar of the Mexican economy. More than at any point in the past 15 years, Mexican industry is today able to compete with China as a low-cost manufacturing alternative and with other high-income markets as a viable location for outsourcing sophisticated manufacturing. This is perhaps the most promising time for Mexican manufacturing since NAFTA was...
2013 was not a memorable year for the insurance sector in Mexico, given the country’s overall slower economic growth. Enhancing Mexico’s low rate of insurance penetration has proved a challenge. With a premiums-to-GDP ratio of about 2% – compared to 5% in Brazil – the insurance penetration rate is one of the lowest in the Latin American region. In 2012 only 22% of the adult population was...
Low macroeconomic volatility, stable exchange rates and efficient management of the economy and public finances are some of the factors behind the growth of Mexico’s capital markets and the record number of initial public offerings announced in 2013. With the second-largest stock exchange in Latin America, Mexico’s recent performance showed growth in volume as well as in value. In 2013, the...
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