According to World Bank Data, the Gross Domestic Product (GDP) in Mexico was worth about $ 1,200 billion USD in 2019.
Aside from being above the regional average of economic status, there are many reasons why Mexico is a prime choice to expand your operations.
Mexico is home to a pro-business environment and an economy that is slowly growing. It is an ideal spot to register a company and start your business.
Keep reading as we break down why, when, and how new businesses should set up in Mexico.
Why Start A Business in Mexico?
Mexico has a unique culture and business environment.
In Mexico, there are 4.2 million small and medium-sized enterprises (SMEs) that generate 52% of Mexico’s GDP, according to the National Institute of Statistics and Geography.
Mexico is also the twelfth largest exporter in the world. Forty-six countries hold free trade agreements with Mexico, more than any other country in the world. Exported goods take up a bigger majority of Mexico’s economy than any other country its size.
Mexico’s top export is manufactured products, but it also exports silver, fruits, vegetables, coffee, and cotton.
With so much international interaction, building a global presence in Mexico is not a difficult milestone for a small business to achieve.
Not only will your business have demand for your service or products inside the country but there is potential for demand to grow beyond Mexico’s borders and into the USA or Latin America.