Mérida, economic engine of Yucatan

The White City is an example for Mexico. The capital of Yucatan boasts important achievements in economic matters, from being one of the fastest growing cities and having the best conditions to undertake, until having the City Council in the entire stat with zero public debt.

“Merida is a precursor city, everything that happens in it has repercussions in the rest of Yucatan,” says Edgar Rivero, a researcher in public policies and public sector economics.

The heart of Southeast Mexico is positioned as an attractive tourist destination for investment, thanks to the support provided to the entrepreneurial ecosystem.

Currently, Merida is among the 20 most important Mexican cities to conduct business, according to a ranking prepared by the Mexican Institute for Competitiveness (Instituto Mexicano de la Competitividad: IMCO).

Although it is positioned at the end of the list, it is important to note that it is the only capital of the south of the country that is included in the ranking, because of the economic growth registered in the 2014-2016 period.

However, this was not the only factor for which it was included. Merida is a successful city, thanks to the high levels of security offered to its inhabitants, according to the National Survey of Urban Public Safety prepared by the National Institute of Statistics and Geography (Instituto Nacional de Estadística y Geografía: INEGI).

Until the first half of March, only 29.9 % of Meridanos aged 18 or older considered that living in the city was unsafe, one of the lowest percentages nationwide.

The payment of the total public debt will bring a saving of up to  62 million pesos (3.1 million USD) for the city of Mérida.

In contrast to Coatzacoalcos, Fresnillo and Chilpancingo de los Bravo, which top the list with the highest debts.

Regarding its public finances, at the beginning of June the City of Mérida, through the Municipal Treasury, made the payment of a  111.4 million pesos balance to a banking institution that grouped the total municipal public debt contracted until 2028.

This measure, according to official information, will bring savings of up to 62 million pesos to Mérida.

In the same way, the city has become a refuge for many froeign Baby Boomers who, in search of a place to retire, find in the state capital the perfect corner.

“It is an attractive city to live not only for those who were born in Yucatan, also for those who decide to adopt this city as their new home, and bring their investments,” says Rivero, who is a graduated from the Bachelor of Economics at the Autonomous University of Yucatan (UADY).

“The Mérida society is very participative. That is an advantage for a democracy and also when it comes to put pressure on the authorities to do things well as has been done in recent years, ” Edgar Riveo concluded.

Source: reporteindigo.com