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Mexico's financial services reforms strengthen sector
OBG
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Operating with comparatively high capital reserve levels, Mexico has a strong and profitable banking system. Both the commercial banks and the regulatory authorities have a prudent and conservative outlook on the way the sector is run. The banking system has enjoyed two decades of growth and stability. This cautious culture is a lasting and deeply ingrained response to earlier troubles, and in particular…

Overview

Increasing awareness boosts Mexico insurance
OBG
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Although the pace of expansion has moderated in the last two years in line with a sluggish economy, Mexico’s insurance industry has been experiencing strong growth. The country remains under-insured, and thus the outlook for increasing the market penetration of insurance products is encouraging. According to the industry’s main regulatory body, the Insurance and Surety National Commission (Comisión…

Overview

Reforms and currency boost Mexico's capital markets
OBG
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Mexico has orderly and innovative capital markets, with government-issued and blue-chip corporate bonds dominating the fixed-income sector, which is larger in volume terms than equities. A well-developed foreign currency market – the world’s most-traded emerging markets currency – is also a prominent asset helping to drive activity. On the equities side, meanwhile, the Mexican Stock Exchange…

Overview

Mexico's legislation changes grow energy sector competition
OBG
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With more than 6% of Mexico’s GDP coming from oil and gas, and 1.8% from the utilities sector, energy is one of the most important components of the economy. Historically, the country has been largely dependent on its oil exports, which have made up a large part of the public budget for several decades. Nonetheless, the decline in production of Petróleos Mexicanos (Pemex), the state-owned oil company,…

Overview

Mexico's IT access expands
OBG
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Fuelled by economic expansion in key sectors, the IT industry is becoming increasingly important for Mexico’s development. Although the segment has had to battle with an underdeveloped telecoms sector, which has translated into low penetration levels for internet and expensive consumer access for services, regulatory changes are bringing about a new cycle of growth for IT and telecoms. Government…

Overview

Mexico transport infrastructure development continues
OBG
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The expansion of manufacturing is both benefitting the Mexican transport sector and placing it under increased pressure. Growth in sub-sectors such as automotive and aerospace industries is positively impacting transportation services through roads, railways, airports and the country’s network of both Pacific and Atlantic seaports, while at the same time, extra passengers and cargo are placing increased…

Overview

Private investment fuels Mexico construction growth
OBG
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As the constitutional reforms passed in 2013 start to have an impact on the Mexican economy, construction activity is poised to grow. In recent years many of the most relevant sectors have been characterised by a cautious approach, caused primarily by preoccupations with the last presidential elections as well as the anticipation of regulatory changes across the board. That said, the energy, telecoms…

Overview

Mexico housing and business real estate on the up
OBG
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Still reeling from the recent crisis that shook Mexico’s main homebuilders to the core, the country’s real estate sector continues to expand despite the challenges. A resolution of the failed housing development model, which aimed at expanding availability on the outskirts of the capital, is now pushing home development closer to central districts of Mexico City. New government measures and incentives…

Overview

Government innovation drive continues in Mexico
OBG
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With a more robust government strategy to support research initiatives and a private sector attuned to the benefits of investing in new product development, innovation is slowly becoming instrumental to Mexico’s economic growth. Since taking office in December 2012, the government of President Enrique Peña Nieto has taken steps to improve the environment for research and innovation in the country.…

Overview

Mexico plans for long-term tourism growth
OBG
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Two straight years of record growth in Mexico’s tourism sector have solidified its importance as a motor for economic growth. According to the Ministry of Tourism (Secretaría de Turismo, SECTUR), tourism contributes over 8.7% to Mexico’s GDP and employs 3.6m people directly, 57% of them women. It is also the fourth most important source of foreign currency. Given its dynamic performance, the…