News Bites

Mexico has all the elements to grow 3.1% in 2013, the Ministry of Finance and Public Credit (SHCP) determined. However, the Bank of Mexico (Banxico) stressed that the country’s economic growth will be between 2% and 3%.

Mexico could attract up to 35 billion dollars of Foreign Direct Investment (FDI) during the first year of the energy reform, which would boost potential GDP growth in Mexico, according to estimates by BBVA Bancomer.

Mexico is competing with Japan to be the second largest car supplier to the US: in just the first half of 2013, Mexico shared 23.4% of the US market, exporting 773,972 vehicles, while Japan had 24.6% and 813,985 units, a difference of only 40,013 units.

The telecommunications sector in Mexico generated an income amounting to 16.579 billion dollars in the first half of 2013, 7.7% more annually, reported The Competitive Intelligence Unit (CUI)

The Mexican film industry could close 2013 with a 9% growth, with an attendance of 228 million people, more than the 209 million in 2012, informed the National Chamber of the Film and Video Industry (Canacine)

Mexico was the most visited country by the US in the first five months of 2013, reporting an increase of 6% in the numbers of travelers, who totaled 2,689,518, according to figures from the US Department of Commerce.

Marriott International, the US luxury hotel chain, will increase its presence in Mexico by 50%, with the opening of 11 hotels.

One comment

  1. Gee . . . I do not know? What I read in this article seems to depend on the consumer spending in the U.S. for Mexican products – vehicles. Much of the construction in both the U.S. and Mexico are due to expensive large government improvement projects. Except for the wealthy class in Mexico, it seems that most of the rest of the population are relatively poor, and dependent on charities.

    The hotel construction in Puerto Vallarta has been extensive, but where will all the travelers to come from to fill the rooms much of the year? In the U.S., four out of five adults are collecting some form of government subsidies and are on the edge of poverty. Over 60 million adults are on food stamps, and most jobs that have remained these past five years of the Obama administration, are being mostly changed to part time or sub-contractor positions to avoid the Obamacare tax.

    How can the world count on America for the economic growth when there is a $17 trillion dollar government defect , plus another some $200 trillion unfunded benefit worker packages. Same with the states, counties and towns.

    Regarding visiting Mexico, air travel has become such a problem because of security, that many vacationers will travel by cruise ship. Resort areas are dependent on their arrival. With all the trouble with the cruse ships, many travelers now avoid them. Plus ports like Puerto Vallarta are being bypassed due to the drug violence.

    Whit I have been hearing from the local merchants in PV, is without the cruse ships, there are few customers visiting their shops. When the visitors walk through their shops, few are buying. The economy in Mexico has been bad in the past – and I do not see it getting any better in the future.

    Like the song that goes like it is ; “All the good time have past and gone”, I find that this is the case in both San Francisco and in Puerto Vallarta, and likely most places everywhere else. War, conflict, migration and cultural changes are negative forces.

    In spite of this, let us hope that the tomorrows will be better days like we have experienced in the best of times.

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