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Overview

Nuevo Leon building on an export-oriented, industry-driven economy
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Posting a GDP growth rate of 3.9% in the first half of 2017, Nuevo León outpaced the national economy, which grew at a rate of 2.5% over the same period. Despite a challenging year of slow growth in 2016, the manufacturing sector remained the main driver of the state’s economy in 2017, with the Chamber of Industry of Nuevo León (Cámara de la Industria de Transformación de Nuevo León, CAINTRA)…

Overview

Mexico focuses on breaking up market monopoly and boosting sector performance
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Mexico’s telecoms sector is the second largest in Latin America after Brazil in terms of subscriber numbers, contributing approximately 2.4% to GDP in the third quarter of 2017. Between June 2013, when significant telecoms reforms were introduced by the government, and September 2017, sector revenues swelled by 66.7%, or MXN451m ($24.7m), according to a third-quarter 2017 report from sector watchdog…

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Robust infrastructure, tech parks and talent drive growth in Mexico's ICT sector
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Mexico’s IT services and software sector reported a compound annual growth rate of 12% between 2010 and 2016, with its market value estimated at $11.3bn in 2016, according to ProMéxico, the country’s investment and export promotion agency. In 2017 Mexico placed 13th out of 65 countries in terms of the best locations to provide IT, business process outsourcing (BPO) and call centre services, according…

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Guanajuato continues on path of economic expansion and diversification
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Economic expansion in the north-central state of Guanajuato outpaced that of the nation as a whole in 2017, registering GDP growth of 4.5%, compared with Mexico’s rate of 2.1%. Overall, Guanajuato reported the sixth-highest increase in per capita GDP of any state in Mexico between 2013 and 2016. The state’s per capita GDP increased by 5% over the period, double the national average of 2.5%. In…

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Hidalgo's improving conditions for investment attract attention
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Named after one of the initiators of Mexico’s War of Independence, Miguel Hidalgo y Costilla, the state authorities have been working to enhance Hidalgo’s position through more effective inter-dependance with the country’s capital, based on the state’s proximity, logistics capabilities and ongoing developments in key industrial sectors. With a rich mining history, an unrivalled location both…

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Upgrades and new systems boost Mexico's transit and trade capacity
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Mexico’s transport sector is undergoing major expansion, providing increased investment opportunities. Among the ongoing projects is a $13bn international airport in Mexico City (Nuevo Aeropuerto Internacional de la Ciudad de México, NAICM), which was originally slated for completion in 2020 but is likely to be delayed until 2023. Work is also under way on a new urban metro system in the capital,…

Overview

Mexico to see moderate expansion to return despite political uncertainty
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Traditionally a barometer of a Mexico’s economic health, the construction sector saw investment slow in 2017 as a result of a dip in public spending on infrastructure works and uncertainty among private investors over the possible outcome of the renegotiation of the North American Free Trade Agreement (NAFTA). This could further push up the already rising costs of materials brought by the February…

Overview

Mexican authorities look to build on recent successes in innovation
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The authorities have long recognised the importance of research and innovation to the development of a strong and sustainable economy. To date, however, a number of structural challenges have somewhat limited innovation, and certain government research and development (R&D) spending goals remain unmet. While renewed interest in promoting R&D has meant the country is performing well on global…

Overview

Expansion in Mexico's retail space indicates a healthy market
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In 2017 Mexico saw record occupancy in real estate. Despite uncertainty surrounding the potential renegotiation of the North American Free Trade Agreement (NAFTA), import duties imposed by the US in May 2018 and the new presidential administration, the sector is expected to remain strong. Competitiveness as a manufacturing hub and job growth are fuelling a hike in demand for residential properties…

Overview

Despite perceived security issues, visitor numbers to Mexico continue to rise
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Recording consistent growth since 2011, Mexico’s tourism sector has continued to expand steadily. According to government counts, more than 39m foreign tourists visited the country in 2017. Arrivals remained relatively strong throughout the year, being only slightly affected by natural disasters, namely the hurricane that battered popular tourist destinations Los Cabos and Baja California Sur in…