Economy in Mexico

The Mexican economy is a developing mixed-market economy. It is the 15th largest economy in the world by nominal GDP and the 13th largest by purchasing power parity (PPP) .

Mexico is also the second-largest economy in Latin America, after Brazil.

The main drivers of the Mexican economy are manufacturing, and services (tourism, retail and telecommunications,) as well remittances from Mexican nationals living abroad.

 

Overall, the Mexican economy is a developing economy with a number of strengths and great investment opportunities.

Momentous success factors

Strategic location: Mexico is located in North America, which is a major economic region. The country is also close to the United States, which is the world’s largest economy.

Industrialization: Mexico is becoming increasingly industrialized, with a growing manufacturing sector. The arrival of Tesla and other automakers is a sign that Mexico is becoming a more attractive destination for foreign investment. Tesla’s $1 billion factory will be a major boost for the Mexican economy.

Rich Natural Resources: Abundant reserves of oil, gas, and minerals enhance Mexico’s economic potential.

World-Class Universities: Mexico is home to a number of world-class universities known for their high- quality education in Sience and Engineering, Medicine and Business.

Youthful and Expanding Population: Mexico benefits from a burgeoning and youthful population, contributing to a robust workforce and consumer base.

Low-Cost Labor: Mexico has a large and growing workforce, and the cost of labor is relatively low compared to other developed countries.

Culture: Mexico’s culture is also a major asset, and it attract tourists and investors from around the world.

Investment Incentives: The Mexican government offers a number of investment incentives, such as tax breaks and subsidies, to attract foreign investment.