When you think of Mexico, the first thing that may come to mind is ‘Vacation!’ The reality is, Mexico is so much more than just a country to visit. Mexico is the second-largest growing Latin American country. With a promising future ahead, the possibilities of living in Mexico are worth exploring. Here are a few exponentially growing industries on the rise in Mexico.
Bringing in billions of dollars within the last couple of years, electronics/technology has become a booming industry in Mexico. Information processing machines lead in the technology scene bringing in an opportunity for exports out of the country. Electronic manufacturers in Mexico are centrally located in the state of Jalisco and are constantly open for job opportunities for engineers and production altogether. Mexico’s final goal is to be one of the greatest electronic exporters of the world.
Without having to have a resident work visa to purchase property here, it is quite the alluring and financially beneficial industry to continue to rise in Mexico. Creating over 11.1% of Mexico’s overall economic activity, these property investments are a great way to bring in capital. In addition, real estate professionals have calculated a projected growth of 17% in the real estate sector in the year 2019 alone. Because Mexico is so desirable to visit, hotels and resorts fill up quickly leaving rentable real estate for vacationing! Property values are increasing and prices are still affordable making this a very desirable market!
Partnering with the United States, Mexico’s manufacturing industry has seen great amounts of growth. With its dependence on the US market, trade between Mexico and the US has been a mutually beneficial trade opportunity financially and competitively. High-end products such as plastics, aerospace and automotive have been on the forefront of this sector. With a projected growth of 8% in the next year, high-end manufacturing will continue to be a profit for the country of Mexico.
These, along with many more industries, continue to show a bright future for Mexico. At Ron Morgan Properties, we would love to help you take the next step in making a move to Mexico. Whether you’re looking for a house, second home or rental property, our variety of properties have something for everyone looking for a prosperous change. Click the contact button to get more information today!