The Mexican economy has begun to grow stronger, thanks to an increase in quality factories and investments from large corporations such as General Motors. Mexico is frequently competing with other countries when it comes to business, and the country looks to make gains on one of its rivals. Mexico has concentrated efforts in expanding its factory production in order to compete with traditional economic powers such as China, and the economy is getting help from companies like GM. The auto giant has recently made plans to invest in Mexican operations, moving critical manufacturing duties into the country. The boost in the Mexican economy could have an affect on many people who send money to relatives in the country, and the surge could create jobs and possibly bolster currency.
A recent report by the Boston Consulting Group expects Mexico's manufacturing advantage over China to continue to grow. Mexican workers typically produce more goods per hour than the Chinese in similar positions, according to the report. The ratio of quality work to the lowest price is better in Mexico than China, and it speaks to the dedication and work ethic in the country. The production is helping to stabilize the economy, and families who send money to loved ones can rest easier knowing the impending financial strength in Mexico.
The BCG report predicts that Mexican factories will produce more than U.S. $60 billion in goods per year. Most of those products are exported to other countries, including the U.S.
"We know there's a lot of work leaving China for Mexico, because it's cheaper," said Harold Sirkin, a BCG senior partner. "Products made in Mexico contain four times as many U.S. made parts, on average, as those made in China."
The relationship to the United States is a positive one for both countries, and many of Mexican exports head toward the U.S. The free trade agreements employed by Mexico have raised the global appeal of importing and exporting with the country, according to the BCG report.
Sirkin added that many companies, including those in China, are looking to expand their factories into Mexico. Several industries are gaining particularly well within the country, such as electronics, appliances, machinery, and automobiles.
GM expanding into Mexico
One company attracted to the affordability and quality in Mexico is General Motors. According to Reuters, GM has recently detailed a plan to invest U.S. $691 million into its factory operations in the country. Specifically, the company wants to add an engine factory in Toluca and a new factory in Silao, and also perform upgrades to the current factory in San Luis Potosi. Most of these locations would focus on transmissions and next generation technologies built by GM.
The attraction GM has with Mexico has to do with the quality of labor, and the affordability of the work force. Manufacturing in the country is more cost-effective than in other parts of the world, and the location helps – being close to the U.S. reduces the costs normally associated with importing and exporting. According to Reuters, many automakers are interested in expanding to Mexico, and some analysts feel that the Mexican economy might become Latin America's biggest, eventually overtaking Brazil.
The current GM facilities in Mexico have 15,000 employees, and that number is expected to grow significantly with the addition of several new locations. This will bolster the economy, and help improve finances for both Mexico and the U.S.
"The automotive sector is today one of the pillars of the national economy, representing more than 20 percent of manufacturing GDP and continues to be, for many reasons, a fundamental industry in attracting investments to productive sectors of the economy," said Ernesto Hernandez, president of GM Mexico.
Overall, the Mexican economy is trending positively, and many people who are financially invested in the country can take comfort in that.
Mexico's National Pyrotechnic Festival is an annual tradition that features stunning fireworks displays. Various Mexican residents and those who live outside of the nation and send money to citizens back home frequently enjoy this event, as it features nine days of fun-filled activities for attendees of all ages.
The Huffington Post points out that around 100,000 people visit the festival every year, and it continues to be a popular attraction for both local residents and tourists. This event takes place in Tultepec and often features music, dancing, food and, of course, fireworks, which make it a one-of-a-kind gathering.
What to expect from the National Pyrotechnic Festival
When it comes to the National Pyrotechnic Festival, perhaps the best advice is to expect the unexpected. Each year, new attractions are introduced that help make the event unique.
For example, the news source notes that contests are often held throughout the gathering, including competitions that involve building wooden monuments filled with essential materials to create dazzling light sequences. Each display is expected to last around 30 minutes, and regardless of who wins, participants can enjoy first-rate sights and sounds.
Additionally, the National Pyrotechnic Festival features "pamplonas" (Running of the Bulls), which is commonly considered its main attraction. During pamplonas, about 250 moving bull-shaped wooden frames are filled with fireworks. Once these are lit up, they create majestic displays that usually last for hours.
Why is the National Pyrotechnic Festival an ongoing attraction?
Those who want to experience thrills and excitement during a Mexican excursion should consider checking out the National Pyrotechnic Festival. Gizmodo reports that this festival has been around since the mid 19th century and continues to draw many tourists to Tultepec every year, a trend that may continue in the near future.
The Mexican tourism segment could profit if more visitors are drawn to the National Pyrotechnic Festival going forward. This event, which celebrates the country's development and use of fireworks, may allow numerous Mexican businesses to boost their sales for years to come.
Meanwhile, the National Pyrotechnic Festival might also help Mexico extend its global reach. Because the nation offers a unique celebration that attendees can look forward to year after year, the country could promote the gathering to visitors. If the event continues to grow, many Mexican companies and residents may benefit, and the nation could increase its revenue as well.
The NBA season recently came to a close, but preparations are already underway in many areas for the 2013-14 schedule. In fact, Mexico City will host an NBA game next season, which could have major effects on numerous Mexican residents and those who live outside of the nation and send money back home.
NBA officials announced that the Minnesota Timberwolves and San Antonio Spurs will face off during a regular-season contest in Mexico City on December 4, 2013. The game will take place at Mexico City Arena and is part of the NBA's efforts to extend its global reach.
Mexico City is a popular NBA destination
The 2013 matchup will mark the 21st time the NBA has hosted a game in Mexico. However, the matchup is the first time the Timberwolves will play in Mexico, while it will be the fifth time the Spurs have visited this country.
Dating back to 1990, the NBA has played 18 regular-season games outside of the U.S. and Canada. Mexico has hosted the most NBA matchups, aside from the United States and Canada, and offers numerous marketing opportunities to the association.
Timberwolves president Chris Wright points out that his team has a great chance to boost its international presence thanks in part to its upcoming matchup against the Spurs in Mexico City. While his squad has done plenty of work over the years to build a talented roster, the NBA may be able to get more people around the globe interested in basketball if it hosts additional contests in Mexico City and other international venues in the future.
"With the huge international presence on our current roster and our increasing global popularity, this is a natural fit for us," Wright said. "The NBA has done a phenomenal job in growing our game globally and we're excited to be a part of history as the NBA continues to expand its brand internationally."
Building a global brand
The Olympian reports that the NBA will also host a regular-season contest in London this season between the Atlanta Hawks and Brooklyn Nets. By promoting games in Mexico City, London and other regions around the globe, the association may be able to boost its profits for years to come.
Additionally, the Mexican economy could significantly benefit from the upcoming NBA matchup in Mexico City. In fact, if more Mexican youths start playing basketball, the sport may quickly become a popular choice for adolescents throughout the nation.
Over the next several years, Mexico could establish itself as an innovator in the global economy. In fact, the country's recent investments may set it up for long-term economic growth, which could significantly impact those who already live in the nation and people who send money to friends and family members back home.
According to ABC News, Mexico is poised to perform in the international technology sector for a number of reasons. Not only does this country have a tremendous pool of talent to help fill job vacancies, but it also has shown it is willing to invest in local businesses for years to come.
More investments in the Mexican economy
For many countries, the effects of the economic recession of the late 2000s are still being dealt with today. Many nations want to make significant economic improvements, but often lack the resources and know-how to help their citizens.
Mexico, on the other hand, is in great position to thrive. The news source points out that this country could quickly become Latin America's technology leader thanks in part to the work of its dedicated leaders.
After the economic downturn, the nation has been garnering attention from various domestic and foreign investors, which could help it increase its profits. Meanwhile, new technology sector investments may allow the country to reach new heights in the immediate future.
Tech startups profiting in Mexico
NPR reports that numerous technology firms that are looking to establish themselves in Mexico have benefited from a gradually improving global economy. While many of these startup businesses might have encountered financial hurdles in the past, various companies are profiting because of Mexico's proximity to the U.S.
"I think it's safe to say that without the U.S., the Mexico market would not be doing very well," Morgan Yeates, an analyst with IT consulting firm Gartner, told the news source. "More and more partnerships are happening between the U.S. and Mexico."
Companies that want to bolster their international reach may consider investments in Mexico as well. This country offers many growth opportunities, as it is located near the U.S. and features numerous employment seekers who are ready to contribute to the technology segment and other industries.
In the future, several Mexican businesses could increase their revenues if they continue to explore partnerships with U.S. firms. The Mexican economy may grow accordingly, and more of the country's job seekers could find plenty of employment opportunities so they can accomplish their career goals.
Mexico continues to be an appealing destination for automotive manufacturers around the globe. For instance, General Motors recently announced plans to invest $691 million in the country, which could significantly impact the nation's residents and those who live outside of Mexico and send money to friends and family members back home.
According to Reuters, GM intends to set up a new factory in central Mexico in the near future, allowing the company to take advantage of a lucrative international automotive market. As the global economy recovers from the downturn of the late 2000s, GM may be able to noticeably boost its profits thanks in part to this recent investment.
GM Mexico president Ernesto Hernandez notes that Mexico may be able to overtake Brazil as Latin America's top automotive manufacturer over the next few years as well. Because Mexico features a talented labor force, GM can make the most of its growth opportunity by investing in its operations in this country.
"The automotive sector is today one of the pillars of the [Mexican] economy, representing more than 20 percent of manufacturing GDP and continues to be, for many reasons, a fundamental industry in attracting investments to productive sectors of the economy," Hernandez told the news source.
GM will add jobs to the Mexican economy
While unemployment was a major problem during the recession, more Mexican job seekers could benefit from GM's recent investment. The news source reports that this automotive manufacturer already employs about 15,000 staff members at its Mexico locations and plans to add team members to its staff soon.
With the second largest vehicle output in Mexico, GM has already established its presence in the nation. However, the next few years may prove to be vital for the company's long-term success.
By increasing its presence in Mexico, GM will be able to create top-notch vehicles that can be enjoyed by motorists worldwide. This automotive supplier has operated in Mexico for 78 years and continues to be a major contributor to the Mexican economy.
Meanwhile, Mexican citizens could reap the rewards of GM's investments as well. The business will continue to search for ways to provide dependable support to drivers, and numerous Mexican workers can help this company achieve its long-term goals.
New cars released in Mexico
To extend its global reach even further, GM also unveiled new options to Mexican consumers recently. The Detroit News notes that this automobile provider began offering OnStar services to Mexican motorists this month, allowing more people than ever before to stay safe while driving.
"This is an important step in GM's global growth and in making connectivity services available to more consumers around the world," GM spokesperson Mary Chan told the news source.
Available since 1996, OnStar makes it simple for motorists to receive immediate support if an accident occurs. Currently, OnStar services are offered to millions of drivers in Canada, China and the U.S., but the recent expansion into Mexico may make it simple for motorists to safely navigate the roads throughout the nation.
A Mexican OnStar call center has also been launched to assist motorists who require urgent assistance. Live operators will be readily available to help drivers should they encounter problems, making it simple for them to get the support they need around the clock.
GM continues to make a difference in the lives of many Mexicans, a trend that is likely to continue. As this automotive supplier evaluates various ways to bolster its global reputation, it could make new investments in Mexico that may help the nation over the next few years.
The Mexican economy is diverse, relying on numerous industries to thrive. In fact, the nation’s walnut suppliers could see significant profits over the next several years, especially if the country continues to rebound from the global economic downturn of the late 2000s.
According to FreshPlaza, the country’s walnut suppliers produced 60,000 tons in 2012, a figure that may rise this year. Gloria Baca Marquez, president of the Walnut Product System Mexican Committee, added that these companies enjoyed substantial profits as well.
How will Mexico’s walnut production affect the global economy?
In 2012, several Mexican walnut producers were concerned about the sector due in part to the decline in consumption in 2011. While there was significant overstock in many suppliers’ warehouses in 2012, numerous providers watched their profits increase throughout the year.
If more walnuts are shipped around the world, Mexican residents and those who live in the U.S. and send money to family members and friends back home could benefit. As Mexican leaders search for ways to boost the nation’s profits, walnuts may help the country improve its global reputation.
Mining could also play a significant role in Mexico
Numerous mining investments could allow the Mexican economy to expand in the near future. Mining.com contributor Cecilia Jamasmie points out that the nation’s mining industry could receive around $8 billion in investments this year.
Meanwhile, this total may significantly rise by 2018 as well. In the next five years, several mining industry experts predict that investments in this area could exceed $25 billion.
Because many investors are interested in gold and silver around Mexico, this country could significantly profit thanks in part to its mining sector. Currently, the nation ranks fifth globally for its mining investments.
Additionally, Mexican leaders could see notable increases in how much is spent on exploration. The nation does not charge investors based on mining production or profits, but instead issues a 30 percent income tax and fees depending on how much land companies use for mining.
Mexican job seekers may be able to pursue careers in the mining industry, as new opportunities could become available soon. If more mining companies consider the opportunities in Mexico, the county’s jobless rate could decrease, and more of the nation’s residents may be able to contribute to the area’s economic growth for years to come.
Visiting Mexico is perfect for travelers of all ages, including those who are looking for fun-filled excursions that take them to exotic destinations. In fact, there are numerous Mexican hot spots featuring must-see attractions around the nation that many vacationers might not know about.
For example, Querétaro is a Mexican colonial town that has its own charm. This hidden gem has preserved its downtown over the years and has many beautiful spots that have helped it earn the nickname “Pearl of the Baijo.”
Additionally, those who visit Querétaro can find out more about what makes Mexico’s culture and history unique. The town highlights the nation’s multiethnic population, and even many Mexican citizens who work in the U.S. and send money to family members back home regularly will enjoy trips to this destination.
Mexico’s tourism sector may grow
Claudia Ruiz Massieu, Mexico’s secretary of tourism, is one of several Mexican officials who wants the country’s tourism segment to grow exponentially over the next few years. In fact, she called Mexico’s tourism sector a significant economic driver for the country, as it may help the nation boost its profits quickly.
As Mexican leaders explore ways to promote myriad tourist attractions, these administrators are making various improvements across the country. For example, Querétaro Today notes that the Mexico’s transport and communications ministry is examining the benefits of a potential high-speed rail link between Mexico City and Querétaro. The train would travel between 120 and 140 miles per hour, which would make it easier for visitors to make trips back and forth from Mexico City to Querétaro without delay.
“The Mexico-Querétaro train is a dream that we can achieve,” ministry spokesperson Gerardo Ruiz told the news source. “If they managed to build trains in the last century, I don’t see why we can’t achieve it in the 21st century.”
Mahahual-Chetumal Bridge could also impact many visitors
Mexican officials plan to construct a 20-mile bridge across Chetumal Bay, helping both residents and visitors. The bridge would extend over water to connect the two destinations, even allowing people to explore Xcalak, Mexico’s southernmost Caribbean outpost.
Meanwhile, several Mexican destinations are also proving to be popular choices for many brides and grooms. SmartPlanet notes that Puerto Vallarta and the Mayan Riviera were among the top selections for newlyweds in 2012, and roughly 200 weddings were held in these areas last year.
Egyptian conductor Hisham Gabr has earned global recognition for his work with a variety of international orchestras. Recently, Mexican residents had two opportunities to enjoy live performances from Gabr, as he visited the country in May 2013.
According to Ahram Online, Gabr performed a wide range of music in Mexico on May 10 and May 12. The performances included works from Mozart and other world-renowned composers that helped make them enjoyable for classical music aficionados around the nation.
Who is Hisham Gabr?
Gabr was born in 1972 and has performed extensively at the Cairo Opera House over the past few years. Meanwhile, Gabr has also collaborated with numerous orchestras in the past, such as the Macedonian Philharmonic Orchestra and Astana Philharmonic Orchestra.
Additionally, Gabr appeared with a Mexican orchestra during his recent performances, giving attendees opportunities to watch local musicians as well.
More music is becoming available throughout Mexico
While Mexico has garnered global praise for its music, more residents and those who live in the U.S. and send money to family members back home may have varying musical preferences. Thankfully, Spotify, a music streaming service, is now readily available across Mexico and could have far-flung effects on the area.
BBC notes that Spotify, which already has 24 million users worldwide, launched its service in Mexico in April 2013. As more people purchase smartphones, the need for Spotify and other music streaming services has increased among consumers, which could make Spotify a top choice for those in Mexico.
The International Federation of the Phonographic Industry (IFPI) stated that Mexico is the 16th largest digital music market around the globe, and as such, the nation may significantly benefit from Spotify. If more Mexican residents invest in smartphones over the next several years, consumers could use Spotify to listen to music on their mobile devices without delay.
Mexico's digital music market has grown significantly in the past few years, a trend that may continue as new technologies are unveiled. IFPI officials noted that this market has grown 17 percent since 2008, and the figure could rise further thanks in part to Mexico's ongoing recovery from the economic downturn of the late 2000s. Many countries were negatively affected by the recession, but more Mexican residents could spend money on music downloads and performances as the nation's economy improves.