San Luis Potosí initially found wealth as a mining town after gold and silver were discovered in the area in 1592. Indeed, its name derives partly from Potosí, the Bolivian town that had the reputation as the richest city in the world thanks to its silver deposits. The state’s mining boom never quite took off like its namesake’s, but the central Mexican state has always had characteristics that…
The Mexican telecoms sector is one of the largest and most dynamic in Latin America. It is also undergoing a process of significant change. The government of President Enrique Peña Nieto, who took office in late 2012 at the start of a six-year term, made reform of the telecoms industry one of its signature policies. In the three years since the reform process was initiated, there has been tangible…
The Mexican ICT sector is well established. There is, however, some ambiguity over the statistical measurement of its size and performance. Using data from the National Institute of Statistics and Geography, one industry lobby, the Mexican Electronics Telecommunications and Information Technologies Industries Chamber (Cámara Nacional de la Industria Electrónica, de Telecomunicaciones y Tecnologías…
Since 2013 the government of President Enrique Peña Nieto has been pushing for a major overhaul of the Mexican public education system. While opposition from powerful teachers’ unions has slowed progress on an education reform bill, a 2013 constitutional change has deepened the government’s commitment to improving the quality of Mexican schools, not just access to them. With the impetus…
Mexico’s transport sector has witnessed rapid growth in recent years. Question marks over economic integration with the US – one of the driving forces of transport growth – are introducing a period of relative uncertainty. However, the fundamentals remain positive for the sector, based on demographic growth, rising living standards, a growing middle class, and the expansion of manufacturing…
Mexico’s construction industry is changing gears in 2017. After recording GDP growth of 1.8% in 2016, the sector faces some short-term challenges. Austerity in public sector budgets has reduced the value of infrastructure projects. There are some macroeconomic concerns including the prospect of higher inflation and tighter interest rates. The worry is that demand for building work across the economy…
After years of steady growth, Mexico’s real estate sector is preparing for a period of moderately increased uncertainty over interest rates, inflation and trade. Despite some apprehension, sales continue and medium-term market fundamentals remain positive. Some property specialists say worries over inflation and a weaker peso may actually create new investment opportunities and underline the value…
Interview:Enrique de la Madrid Cordero What steps are being taken to diversify Mexico’s tourist destinations and activities? ENRIQUE DE LA MADRID: Five destinations still represent 80% of tourist activity in the country and this clearly needs to change. This doesn’t mean we should de-prioritise beach areas; they are natural attractions for millions of tourists from Europe and North America…
Receiving more than 35m international visitors in 2016 – 2.8m over 2015 – Mexico continues to move up the world tourism league table. The country’s ranking in terms of arrivals in global tourism destinations improved from 10th to ninth position in 2016, according to the UN World Tourism Organisation. A weak peso has boosted margins for operators and attracted more visitors while at the same…
Following 10 years of growth roughly on par with that of the overall economy, Mexico’s agriculture sector outstripped GDP growth by 1.2 percentage points in 2016 and registered a trade surplus for the second year running. As a share of GDP it declined only slightly over 2006-15 from 3.2% to 3%, and then grew in 2016 by 3.5% compared to national GDP growth of 2.3%. This strong performance saw its…
