Mexico’s prime location right next to one of the biggest superpowers in the world economy, the United States, makes it the perfect trade partner. Besides being a great partner to other countries around the world for trade and business, Mexico is also a top country on its own for economic growth and industry. Some investors may have a certain image of this country in their mind, making it seem like it’s not a real player on the international stage. Here are the top industries in this region that show its continued evolution and growth in business and industry.
Tourism
The biggest industry that most people think of when looking at Mexico for potential investment is tourism. While some of Mexico’s top tourist spots have suffered from the region’s violence and drug trade, many other parts of this country continue to thrive in the vacation industry. Mexico’s balmy, subtropical weather and miles of coastline along the Gulf of Mexico and the Pacific Ocean will always make it a top place for booming tourism businesses, such as hotels, resorts, amusement parks, and more.
Real Estate
The real estate industry is also thriving and continuing to grow in many regions of Mexico. Investors can score properties at low costs and manage them as rentals or vacation homes in hot tourist spots. Multifamily homes and apartment buildings also are increasing in value in this region. While some parts of the world saw a drop in real estate holdings after the recession from a decade ago, Mexico still continues to have a healthy industry for real estate management and investment.
Telecommunications
As more people in rural communities of Mexico get connected with mobile phones and internet, the telecommunications industry in the region is working to catch up. Key players in the industry, such as Peter Foyo, have seen great changes in infrastructure and technology development in all parts of Mexico. The government and communities around Mexico are gearing up to expand internet access for more people who live in rural or poverty-stricken areas.
Automobiles
The automobile industry has traditionally been strong in Mexico. Many foreign car companies, especially American firms, have found it easier to move their manufacturing centers over the border. They’ve been welcomed with cheaper costs, plentiful labor, and friendly government regulations. Today, Mexico has increased its efforts to expand its own domestic car industry, making affordable transportation for all more of an option.
Aviation
The aviation industry has taken some tips from the American automobile industry and moved some of its operations and parts manufacturing to Mexico in the last few years. Some of the biggest players in aerospace have found success in Mexico. Much of the aviation industry’s parts and pieces are actually produced in Mexico now.
Energy
The energy sector is another place where innovation and industry are finding success in Mexico. Parts of Mexico are still great options for oil exploration, and there are big opportunities for oil refining along the coastal areas. Other resources, such as natural gas, coal, and geothermal sources are becoming even more important to the region. Renewable resources to help expand green energy options, such as solar, wind, and hydropower, are also growing in Mexico.
Retail
Finally, Mexico has traditionally also been a great spot for retail companies. Clothing production facilities from around the globe have based themselves in Mexico for better financial positions and profit building. The retail sector still has a lot of potential for future growth in manufacturing and production.
If you want to find a place where your dollar will go further, Mexico may be the right spot for your next investment. Check out these industries to see where you can get the most return for your investment.
