Mexico on Pace to Pass Italy as 10th Largest Economy

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Services for Real Estate Pros with Mexico Real Estate

 

Euromonitor International, one of the world's leading independent providers of business intelligence, said yesterday, that Mexico will overtake Italy to become the world’s tenth largest economy within the next 9 years.  

 

By 2020, Mexico’s GDP (gross domestic product) output will reach $2.84 trillion, compared with Italy’s projected $2.46 trillion, putting Mexico only a step away from reaching other major world economies including France, UK, Brazil and even Germany.

 

Trumping China, Mexico’s close proximity and duty-free access to the U.S. via NAFTA currently makes Mexico the cheapest place to manufacture goods bound for the U.S.  In fact, many Chinese manufacturers are now moving their manufacturing facilities to Mexico, making China a top investor in Mexico’s burgeoning economy.

 

Mexico is also benefiting from one of the world’s lowest business tax structures, cheap labor costs, lower unemployment, double-digit bank loan growth and a 4.5% economic surge out of the recession, higher than many other major world economies, including the U.S.  Mexico is also seeing massive foreign investment from banking sectors, institutional investors and private real estate developers.  

 

For example, Playa del Carmen in Mexico’s Riviera Maya was recently named “the fastest growing city in the world” by the Guinness Book of World Records.  The sleepy town of Tulum, just 40 miles to the south, with the imminent construction of a new International Airport and the influx of 3 million new visitors, is anticipated to grow even faster.  Some of the world’s largest real estate development companies and service providers are bidding to be involved in this economic expansion, including Carlos Slim’s (world’s wealthiest man), IDEAL Construction.

 

by Michael Zenn

www.investmentpropertiesmexico.com

 

 

 

 

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Investment Property

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Rainmaker
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Yvette Chisholm
Long & Foster Real Estate, Inc. - Rockville, MD
Associate Broker - Rockville, MD 301-758-9500

Very interesting information....thanks very much for posting.

Aug 11, 2010 11:38 AM #1
Rainer
30,525
Investment Properties Mexico
Mexico Real Estate - Miami, FL

Glad you found it helpful.  

Aug 11, 2010 11:43 AM #2
Rainmaker
126,582
Will Handley
Progressive Inspection Service - San Juan Capistrano, CA
Certified Master Inspection Services

Something is not right about those numbers.  I know PEMEX the mexican oil company sells that much oil per quarter.  Mexico now ranks #3 in agriculture and has massive auto, textile and technology sectors as well.  Could the article mean $2.84 Trillion rather than billion?

"By 2020, Mexico's GDP (gross domestic product) output will reach $2.84 billion, compared with Italy's projected $2.46 billion, putting Mexico only a step away from reaching other major world economies including France, UK, Brazil and even Germany."

Aug 11, 2010 11:45 AM #3
Rainer
30,525
Investment Properties Mexico
Mexico Real Estate - Miami, FL

Thank you so much Will, it was an error.  We really appreciate your fantastic eye!

Aug 11, 2010 12:00 PM #4
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