Mexico’s economy has shown remarkable growth in recent years, thanks to changes implemented by the current government and a well-functioning market. According to Jorge Arce, general director of HSBC Mexico, this is due to government initiatives such as pension reform and the elimination of labor subcontracting, which have created a positive environment for growth.
Mexico remains strong in agriculture and consumer sectors, with full employment and a robust economy. Looking ahead to 2024, Arce notes that while there has been a slowdown in certain sectors, the country is still strong in these areas. He attributes this strength to both government initiatives like the Afore reform and minimum wage increases, as well as dynamic private sector investments.
Regardless of the outcome of the upcoming election, Arce believes that the next government should focus on maintaining Mexico’s openness to the world and improving education, healthcare, infrastructure, and security. He emphasizes the importance of continued investments in key areas like water, energy, logistics, and human capital to sustain economic growth.
Security remains a crucial issue for investors considering Mexico. While foreign investors show strong interest in Mexico now looking beyond initial assessments to make real investments and take advantage of opportunities for nearshoring. In conclusion, Arce highlights that continued investment in key areas such as education, healthcare and security is essential for sustainable growth in Mexico.
