Mexico broke a record in its net arrivals of Foreign Direct Investment in the first quarter of 2021
On May 20 the preliminary figures of the foreign direct investment (FDI) were released. The Secretary of Economy Tatiana Clouther said “The FDI within the first three months of 2021 reached their highest level for the same time interval since figures started to be recorded in 1999” and 14% higher than what was captured in the same period last year.
Most of the Foreign Direct Investment received in the first quarter of this year went to the following sectors: manufacturing with 46.6% financial services and insurance representing 14.6%, mining 13.9% and 11.5% to international trade.
In terms of origin, the main sources of investment by country were the United States, with 42.5% of the total, followed by Spain, with 12.1%; Luxembourg, 8.2%; the United Kingdom, 5.5%, and Canada, 4.8%.
Finally, these figures show the strength of the economy and the attractiveness of the country, which should be welcoming news to foreign investors who are interested in forming a company in Mexico as this is a sure sign that the economy is on its way to recovery following the global COVID-19 pandemic. The future is bright for Mexico as new opportunities are being born such as Financial technology (Fintech), which is growing at a considerable pace in Latin America, with Mexico being a focal point for tech innovation. A great example is Guadalajara, considered the epicenter of the country’s tech ecosystem.
Also, Mexico is considered already the 17th largest e-commerce market globally, and with a large population of over 128 million people, rapidly growing internet coverage that reached 70.1% in 2019, offering great prospects in online sales in the future, especially with the proximity of the US and Canadian markets.
Not to mention Mexico’s Tourism industry which is expected to rebound after the pandemic and could potentially reach $17 billion by 2025.
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