With the primary materials industry accounting for just 4.9% of state GDP in 2019, San Luis Potosí has come a long way since its foundation as a mining town in 1592. The early days of the city’s economic development are owed to its precious metal deposits, and the mark they made on the colonial economy was significant. As Mexico progressed, San Luis Potosí found itself in the centre of the “golden…
The largest single private investment in the history of Hidalgo, Grupo Modelo’s new brewery in the southern municipality of Apan opened in March 2019 and is a key anchor investment for the state. Investment Modelo’s MXN14bn ($723.9bn) funding represented 5.3% of Hidalgo’s 2017 GDP and reflects the agro-industry’s recent progress. Of the strategic sectors prioritised by the state’s Secretariat…
Alongside its focus on regenerating Mexico’s hydrocarbons industry, the administration of Andrés Manuel López Obrador has set the target of deriving 35% of the nation’s energy from renewable sources by 2025. However, Juan Pablo Torres Barrera, president of the state industry group Industriales Potosinos, said at the July 2019 Business Forum on Renewable Energy in San Luis Potosí that this target…
Internet access is a constitutional right in Mexico, and while penetration rates are gradually increasing, the latest survey from the National Institute of Statistics and Geography suggests that Hidalgo has some work to do to improve connectivity. In 2017 the state ranked 22nd out of 32 nationally for the share of its population that used the internet (59.3%), while it ranked 24th in terms of its percentage…
With an expanding economy and population, San Luis Potosí was ranked among the top-five Mexican cities for real estate investment in 2019 by online real estate marketplace Lamundi.com.mx and Mexican property consultant Gava Capital. While the prospects for the real estate industry in San Luis Potosí are bright, there is undoubtedly potential for growth in the sector. According to data from the National…
With an eye on diversification and increased value-added production and services, the state of Hidalgo has been working in recent years to revitalise its business climate to entice both domestic and international investment in a way that trickles down throughout the local economy, boosting salaries and improving livelihoods. To that end, the government has implemented what in May 2019 ratings agency…
San Luis Potosí is an integral part of the Bajío industrial region – the engine of the national economy. Within Bajío, the state is a leader in several key industries and in recent years has moved to diversify its offerings. Traditionally, San Luis Potosí has been a centre of direct automotive manufacturing – which is still the largest industry in the area – but there has been a concerted…
In an effort to boost the state’s research and development (R&D) capabilities, in March 2019 Hidalgo announced that $25m of seed funding would be put towards developing Mexico’s first synchrotron, a type of cyclical particle accelerator. The federal government is expected to provide a further $500m for the project, which Alonso Huerta, director of the Council of Science, Technology and Innovation…
As tech business grows more expensive in California’s Silicon Valley, some investors are looking to alternative markets for lower costs and ventures that promise growth. The tech ecosystems in Berlin and Barcelona are among the locations absorbing investment, while in Latin America Mexico City is competing for prominence among the region’s tech cities. Mexico City’s proximity to Silicon Valley,…
According to the OECD, Hidalgo’s population is currently experiencing “a youth demographic premium”, meaning young people make up a large part of the population. Furthermore, 65% of its residents are between the ages of 15 and 64. There are also greater educational opportunities than in the past, and the percentage of 19- to 25-year-olds who had completed or were in higher education grew from…
