Mexico is consolidating as a magnet for Spanish investors, entrepreneurs and companies

Despite the fact that we will deal in depth with the possibilities of Spanish investors, entrepreneurs and companies in Mexico, it should first be noted that Latin America in general has become a very interesting region for all of them, especially considering the current context of extreme instability in Europe due to Global geopolitical tensions causing changes in trade and economic flows. All this, added to This region maintains strong linguistic and cultural ties with Spain, and an important demographic development, among other things, its wealth in raw materials, It makes many Spanish investors look positively at the different countries in Latin America, although, as we indicated, in this article we will focus specifically on Mexico.

With an ideal geostrategic location on the border with the United States and direct access to Central and South America, Mexico is positioned as one of the best countries for investment and business development today, because after years of promoting stable economic growth, it is already the 15th largest economy in the world, It aspires to become the ninth in 2030, and the seventh in 2050, ahead of countries such as Germany or the United Kingdom. The Latin American country also enjoys good macroeconomic stability, with no overly high public debt, a hard-line and comprehensive policy, and a commitment not to raise taxes that put investment at risk. Among the positive aspects, and most importantly, the educational policies gave good results, and achieved a high technically prepared human capital, and there are more than 100,000 engineering, manufacturing and construction students graduating annually. This, along with the aforementioned and good infrastructures, encourages Roundingand this means that many manufacturers, of course the majority from the United States, move part of their production to Mexico, so much so that This country is among the 10 most attractive countries for foreign direct investment (FDI).

One of the most notable aspects of Mexico is of interest to many investors Its inclusion in the T-MEC, an important free trade agreement signed between Canada, the United States, and Mexico that has notable benefits for the Mexican economy, especially for issues relating to imports and exports with those countries. do not forget it Mexico also has a free trade agreement with the European Union. Which allows it to trade on very good terms with countries like Spain, with which it maintains excellent trade relations. In fact, the Iberian country is the second largest investor in the world in Mexico, after only the United States.

In connection with the above, we would like to highlight that the bilateral trade between Spain and Mexico amounted to about 8,700 million euros in 2021. In this sense, It should be noted that many Spanish companies have already established themselves in Mexico, especially in strategic sectors that are no less important than energy, finance, tourism or telephony: Iberdrola, Repsol, Santander, BBVA, OHL, Sol Meliá, Barceló, Aena or Telefónica are just some of the Spanish companies operating in the Latin American country, which has more than 120 million potential consumers, which makes it very attractive. companies and investors. The opposite also happens, that is, Mexican investors who invest in Spain because of the opportunities it offers and because it is the gateway to Europe. Panrico, bought by Bimbo; Avanza, which was acquired by the ADO Group; Yelmo Cines, since 2015 from the Mexican group Cinépolis; Realia, with 75% of the capital in the hands of Mexican tycoon Carlos Slim, who also owns a stake in the FCC; and Campofrío, owned by Sigma Alimentos, are some examples of investment by Mexican businessmen in Spain. One of the success stories is mayan bank, Being a bank that intends to lead investments in the real estate and industrial sectors in Spain. These statements confirm the common interests and good commercial relations existing between Spain and Mexico.

Tourism, one of the strongest sectors of the Mexican economy

One of the aspects that we would also like to highlight in this article is whereWe explore the possibilities of investing in Mexico in the tourism sector, which has been expanding in recent years; The Minister of Tourism of the Government of Mexico, Miguel Torroco Marquez, recently announced that foreign exchange income from international visitors from January to September 2022 amounted to $20,483 million, up 54% from 2021 and up from 10% from 2019, before the pandemic. In 2023, according to the forecasts of the aforementioned Minister of Tourism of the Government of Mexico, their number is expected to be around 31,000 million, which indicates that it is a thriving sector with great potential both for businesses in the country and for foreign investors.

Of all the proposals that Mexico offers, We would like to highlight Cancun, as it has become a reference for travelers, in fact, in 2021 it was the second most visited destination in the world, Just behind Dubai. Cancun Airport receives millions of tourists every year – more than 30 in 2022, breaking records in terms of passenger arrivals and departures – ready to enjoy its beautiful beaches, the biodiversity of its reefs, its scenic beauty and good climate, without forgetting Mexican hospitality and delicious gastronomy. It should also be noted that this city in the state of Quinta Roo has chosen good and sustainable tourism, giving priority to long stays and increasing co-working spaces while promoting services that adapt to work, a term that refers to working in a vacation spot, in order to attract the so-called “Digital nomads”, in addition to betting on sports tourism, with the celebration of events such as the half marathon. All this, together with the attractions of Cancun, which invite you to relax and connect with nature, made it possible Good data on the arrival of international tourists in the city, as well as the city’s mayor, Ana Patricia Peralta de la Peña (Mayor of Benito Juarez), were able to appear in the latest edition of Fitur 2023 in Madrid.

In short, Mexico is a country full of potential in business matters, as it has economic and financial stability, demographic potential, qualified personnel, and very attractive thriving sectors – tourism and infrastructure, to name a few. All this, along with the good relations between Spain and Mexico, made it a country of great interest to Spaniards who wished to undertake business ventures abroad.

Jose Miguel Ramirez

@tweet