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Recent and upcoming investment in Mexico

ECONOMY AND INDUSTRY

  • Revenue from international tourism to Mexico jumped 256% in August with respect to the same month in 2020, according to data from the National Statistics Institute (INEGI). Nonetheless, income from international tourism remained 6.9% below the level registered in the same month of 2019. (Citibanamex Reporte Económico Diario, October 11, 2021)
  • Mexico’s inflation rate through September as measured by the National Consumer Price Index (INPC) is 6.0%, Citibank subsidiary Citibanamex reported. The bank projects final 2021 inflation to reach 6.4%. (Citibanamex Estudios Económicos, October 7, 2021)
  • Remittances to Mexico from abroad continued their remarkable performance in August, registering an increase of 32.7% over the same month the previous year, according to central bank Banco de México (Banxico) data. The value of remittances is running approximately 25% ahead of 2020 through the first eight months of this year. (El Financiero, October 1, 2021)

Continue reading Recent and upcoming investment in Mexico

COVID, investment both up in January

COVID-19

The COVID-19 pandemic continued to lash Mexico in January with no respite in sight.  The number of new cases and deaths reached historic highs during the month, and the country’s level of excess mortality ranked second highest in the world.  Mexico City and 13 other states remain at red on the epidemiological traffic light, signifying the highest level of restriction on economic activity and movement.  Hospital bed occupation in the capital is close to 90%, and only one of Mexico’s 32 states, Campeche, is at the green or lowest level of restrictions.  At this time, both President Andrés Manuel López Obrador and Carlos Slim, Mexico’s wealthiest man, are ill with COVID-19. Continue reading COVID, investment both up in January

Recent and upcoming investment in Mexico

Information collected from media reports over the last month:

  • Logistics: Mexican industrial warehouse operators IRESA and Basal launched a joint venture called Qualianz, the companies reported. The US$70 million venture offers cold and dry storage at 28 locations in support of the food industry cold chain in Mexico. (El Financiero, March 18, 2020)
  • Telecommunications: Mexican cable television, telephone and internet service provider Megacable reported plans to invest approximately US$400 million during the current year. Programs include installation of fiber optic infrastructure and upgrades to their streaming platform and broadband internet services. (Reforma, March 16, 2020)
  • Sports: Mexican hotel operator and real estate developer Mundo Imperial increased its projected investment in a new tennis arena in Acapulco to US$15 million. The 10,000 seat Arena MIA complex is currently under construction and scheduled to open in early 2021. (Reforma, March 12, 2020)
  • Healthcare: Mexican private hospital operator Grupo Angeles plans to establish a new upscale hospital in Mexico City, local media reported. The US$65 million project will remodel an existing building which will be fully equipped with latest-generation medical equipment. (El Financiero, March 11, 2020)
  • Mining: Mexican mining firm Industrias Peñoles plans to open three new mines in the country this year, the company reported. The US$850 million expansion of operations will boost production of silver and other metals. (El Financiero, March 11, 2020) Continue reading Recent and upcoming investment in Mexico