Friday, May 13, 2011

2011-2012 Mexico’s economy to grow in range of four-five percent: The Global economy on a local level

Ever since the US Clinton Administration’s recognition that we’re living in a global economy was realized, the big northern neighbor of Mexico has since shared a bit of ‘trickle down’ economics. What this means specifically for Playa Del Carmen and the Riviera Maya, is trickle down growth.

The tourism sector that drives the majority inter Mexico’s gross domestic product is almost directly proportional to US forecasts, with one great exception: The growth in the Riviera is usually double over the past two years. According to Bank of Mexico , Yesterday May 11th, the Mexican economy will grow in the range of four percent to five percent this year, up from initial forecasts of 3.8 percent to 4.8 percent, the Bank of Mexico said. The 2012 growth forecast for GDP remains at 3.8 percent to 4.8 percent, the central bank said.

“Both the recent performance of the economy, as well as its main determinants, suggest that there could be higher GDP growth in Mexico in 2011 than forecast in the previous report on inflation,” the Bank of Mexico said. “Rising industrial production in the US and stronger consumer demand in Mexico in the first quarter are among the positive factors pointing to more robust economic growth, the central bank said, adding the economy will create between 600,000 and 700,000 jobs annually in 2011 and 2012 if it grows at the projected levels.”

And as this latest reports comes in, the anticipated “doupling effect” that is mirrored here in the Riviera Maya will be fostering further advancements in the evolution of tourism services.

http://www.amercian-development.com/

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