Mexico

In 2018 Mexico’s economy ranked second in Latin America and 15th in the world in terms of GDP, which totalled $1.22trn, according to the World Bank. In 2019 the newly elected President Andrés Manuel López Obrador has pushed ahead with efforts to meet his pledge to tackle corruption and implement austerity measures within the government, to reduce costs and curb excessive expenditures.

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Mexico is set to see a series of new investments in gold and silver mining projects in 2021, which are expected to be key drivers of economic recovery from the coronavirus pandemic.

With Covid-19 facilitating the widespread adoption of remote working practices, some emerging markets are seeking to attract digital nomads through a series of incentives and special visas.

In a bid to offset economic headwinds associated with the coronavirus pandemic, Mexican president Andrés Manuel López Obrador (widely known as AMLO) announced an infrastructure investment plan of nearly $14bn, aimed at supporting business and stimulating an economic recovery.

Despite predictions of a significant fall as a result of Covid-19, remittances into some Latin American countries have actually increased following the outbreak of the coronavirus pandemic.

While Mexico’s economy is being badly hit by Covid-19, the US-Mexico-Canada Agreement (USMCA) – and, in particular, new intellectual property (IP) laws – could potentially boost the long-term prospects of its industrial and pharmaceutical sectors.

Covid-19 has had a significant impact on the Latin American residential real estate market, with the economic slowdown and increased investor uncertainty serving to dampen growth in the short term. Nevertheless, the pandemic has stimulated demand for both rental properties and accommodation with outdoor space, while also accelerating the digitalisation of the industry and boosting competition among mortgage lenders.

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