Mexico, Economy Shows Promise

Mexico, Economy Shows Promise

Mexico is not only one of the “hidden gems” for wine exports, it is an economy that during crisis has grown with a rythm that surpasses the other two giants of its hemisphere, Canada and the United States. Once symbolising emigration, it is now becoming a safe harbour for those, through choice or necessity, seek their fortune far away from the country of origin. The New York Times came to this conclusion in a long article dedicated to its southern neighbor.

In ten years, from 2000 to 2010, the resident born-abroad population in Mexico has doubled to the point of reaching 850,000. This thanks to the greater capacity of its economy to attract capital and resources, not only financial, but also human. Requests for residency increased by 10% since last November and regulatory measures on opening markets to foreign businesses are beginning to become less restrictive.

It is a market with enormous potential, in which food accounts for 7% of imports. The demographic evolution forecasts that it may become an outlet for high value-added foods, like European wines and Protected Geographical Indication (PGI) products.