Exploring Mexico’s Business Opportunities: Insights for a Smooth Transition
Main types of business activities in Mexico
The economy of Mexico is quite diverse. Most enterprises are focused on the extraction of oil, gas and various metals. Metallurgy, chemistry, as well as the sphere of mechanical engineering is developing. Investments in Mexico from the USA are of great importance – almost all cars produced in Mexico are manufactured by world leaders: Ford, Chrysler, General Motors.
Mexican authorities are very interested in attracting foreign investors. For this purpose, special programs have been developed for a long time to create proper conditions for attracting capital. As a result, Mexico has become one of the most attractive countries for financial investments and business development.
The most promising areas of business activity
One of the most profitable activities in Mexico is the purchase and construction of real estate. Over the past 10 years, Mexico has become one of the most popular countries for vacation and residence, so more than 50% of investors are ready to invest their material resources in Mexican real estate.
Every year millions of solvent tourists come to Mexico, who can afford to rent apartments or villas. In addition, the cost of real estate in general is quite low, so many Canadians, Americans and Europeans can afford to buy luxury housing in Mexico, which in the U.S. would cost many times more expensive. In this regard, this type of business brings a huge income. Cancun and the Caribbean coast are especially popular for investments – there are always many people who want to buy a house here.
Franchise business in Mexico
The Mexican franchise business has been growing since 1985, when the first branch of the McDonald’s fast food restaurant chain opened in the country. The first Mexican franchisor company was founded in Guadalajara and was named Helados Bing.
The Mexican Franchise Association, which originally consisted of only 12 brands, was created almost 30 years ago, and franchising is now a major focus for more than 350 companies. Today, Mexico ranks 11th in the world in franchising development. The bulk of this business is concentrated in the country’s major cities: Mexico City, Guadalajara and Monterrey. The main areas of expansion of Mexican goods are such countries as Cuba, Chile, Peru, Colombia and Brazil. In order to have a better understanding of the prospects of running a franchise business in Mexico, potential investors visit the large-scale exhibitions Expo Franquicias and la Feria International de Franquicias.
Development of tourism business
Tourism is considered one of the most sought after and developed areas of the Mexican economy. The Mexican United States is among the top ten most visited countries in the world. One of the main centers of tourism development is Mexico City – it is there that a huge number of unique architectural structures, museums, cultural monuments and various attractions are concentrated. Acapulco, Riviera Maya, Guadalajara are also very popular. Therefore, foreign investors actively invest money in the development of the hotel business.
Most investors – entrepreneurs from the U.S. and Spain – Mexican business attracts economic and political stability, a high level of infrastructure development and excellent earning potential, because at the height of the holiday season all hotels in Mexico are fully filled.
Quite profitable will be investments in stores for tourists, souvenir stores, spa and fitness centers, gyms. Cafes and restaurants with national Mexican cuisine are quite popular among tourists.
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