Mexico’s economy is in a better shape than ever according to economists. Much of this can be attributed to the industrial advantages of Mexico at this time.
It is quite well known that not only is Mexico an important producer of goods exported worldwide, but also of added value thanks to its highly qualified, skilled and competitive professionals, with every year more than 90,000 students graduating from engineering and technical programs. Thus Mexico has become a powerhouse of technological manufacturing.
Mexico is the leading supplier of auto-parts and trucks in the United States with one out of every seven cars sold in the U.S. having been made in Mexico. Mexico is also the primary destination for the aerospace industry, with more aerospace companies located in Mexico than anywhere else in the world. In fact, for the aerospace industry, Queretaro is the most profitable city in Mexico as it has the highest return for investors.
Mexico is the world’s second largest exporter of colour T.V. sets worldwide (20 million units) and is one of the most important colour T.V. suppliers in the United States. Mexico is also the main producer of smart-phones (93.5 million of mobile phones were exported in 2008); and the third largest refrigerator exporter, along with other home-appliances.
Mexico is the largest medical instrument and device supplier to the United States and again, is one of the main destinations for the world’s software, Information Technology and Business Process Outsourcing (BPO), industries. It is a strategic ally to companies from all over the world with a privileged location that allows direct access to the United States market, the world’s #1 consumer of information technologies. With highly qualified personnel and a solid public policy, the IT market is expected to grow from US$10 billion dollars in 2007 to around US$16.9 billion in 2012.
Mexico is the fourth favourite country for mining investments in the world and the second largest silver producer and according to a study carried out by the consulting firm AlixPartners, Mexico has the lowest costs for the manufacturing of industrial components among the main emerging economies (Brazil, China and India) largely due to it possessing an attractive exchange rate against the dollar, comparatively low transportation costs and a large number of Free Trade Agreements.
This is the new realization of Mexico by the world, not the under-developed sleepy desert displayed so commonly in Hollywood flicks, but rather a tropical paradise listed as one of the world’s top destinations and technological, rapidly developing investors dream.