Mexico is the most populous Spanish-speaking country in the world with a market the size of Western Europe (all of it). The country is part of more free trade agreements than any other one, putting its potential market up to 60% of the world’s GDP. And that’s only the beginning. The government has taken on substantial economic reforms since 2014, opening up some sectors to investments and ensuring safer operations to counteract the rise in organized crime and the ongoing corruption problems.
Since 2016, Mexico offers Special Economic Zones to foreign companies who would like to invest in economically underdeveloped areas in the south in exchange for various incentives, including infrastructure development prerogatives, trade facilities, easier regulatory processes, and duty-free customs. Interest rates are still high in the rest of the country, despite signs of growth in the banking system and a stable economic growth in general, but Mexico also offers manufacturing labour costs comparable to those in Asia, a young and skilled labour force, extensive natural resources and a government that encourages foreign investment.
Mexico has the largest taxi fleet in the world. You want to take a ride? In this Getting to Global guide, we will guide you through the process of reaching Mexico’s consumers, successfully making sales on ecommerce channels, and getting your products to reach the desired consumers.