Puerto Vallarta based Lifestyle, Travel and Real Estate website “Good Life Puerto Vallarta” recently featured an opinion piece describing 7 surprising facts about the economy in Mexico, that you will not read on Fox News… check it out.
You know that the beaches and the people of Mexico are very warm. What you may not know is that the economy of Mexico es muy caliente (sizzling hot). Consider:
- A strategic location
- Economic growth rate
- Advanced manufacturing
- Excellent supply chains
- Fiscal stimulus
- Talented, young workforce
With all of this going for it, the economy of Mexico has some surprising highlights. Data shows that this is the opinion of many. Luis Videgaray is an MIT graduate and Mexico’s Finance Minister. He’s the brains behind current economic reforms. He says the reforms may take years to kick in fully, but there are some surprising highlights.
First of all, Mexico is becoming a powerhouse of manufacturing. The country is on track to become the United States’ No. 1 source of imported cars. As a major auto manufacturer, 89 of the world’s top 100 auto parts makers have production in the country. In 2014, more than 10 billion dollars invested in this sector alone. Investors were Audi, Mercedes Benz, Kia, BMW, and Nissan. This year, Ford announced a 1.6 billion dollar investment in a plant to produce a rival hybrid to Toyota’s Prius.
The electronics industry of Mexico has grown at a fast pace within the last decade. Mexico has the sixth largest electronics industry in the world. There are almost half a million (451,000) students enrolled in electronics engineering programs. 114,000 electronics engineers enter the Mexican workforce each year
Mexico is flying high in the aerospace sector. Many multi-national companies are here because of:
- The talent and capabilities of the people
- Infrastructure development.
Today, there are 287 companies and R+D centres. The sector generates more that 45,000 high quality jobs. Mexico is the meeting point of the world’s two main aerospace manufacturing corridors, both in North America. Also, access to Asian and European markets make it the aerospace manufacturing center of the Americas. Exports amounted to over 6.3 billion dollars in 2014. That’s a 20% growth year over year for the past decade.
Finally, many more companies are making commitments of close to $10 billion in operations in Mexico. Mexico’s world exports in 2014 totalled $380.8 billion.
Click here for full article
more recommended stories
Lucas de Galvez and San Benito markets will close until 9 PM
MÉRIDA.- In response to the requests.
CDC warns Americans against traveling to Mexico due to COVID-19
People who become infected with the.
Are hurricanes spurring more Central American migration?
SAN PEDRO SULA, Honduras (AP) —.
If approved by Cofepris, Pfizer vaccine will arrive in December: Marcelo Ebrard
On Tuesday, November 24th, Marcelo Ebrard,.
Illegal logging, a problem afflicting the beekeeping industry in Yucatan
“It is urgent to update the.
Diego Maradona dies in Argentina
Argentine soccer player Diego Armando Maradona.
Tren Maya starts hiring construction workers in Yucatan
Maxcanú, Yucatán (November 24, 2020).- In.
Progreso will have the largest shipyard in Latin America
The project, result of an agreement.
Five feet long crocodile found under a car in Las Américas
MÉRIDA, YUCATAN (November 25, 2020).- On.
Best Buy may be the “first of several” to close in Mexico
The chief economist of Banco Base,.