Economic Boost and Job Creation
From January to September 2024, Mexico has showcased its economic resilience with 209 Foreign Direct Investment (FDI) projects totaling $64 billion, creating over 99,700 new jobs. This growth reflects the commitment of both the government and the private sector to cultivate a favorable business climate.
Contributions by State
More than 70% of these jobs will be concentrated in 15 states, particularly in Coahuila, Querétaro, and Nuevo León, which together are expected to generate 33,617 new jobs. This distribution highlights Mexico’s economic diversification and expansion.
Growing Sectors
The manufacturing sector leads these investments, representing 56% of public announcements. Key industries such as beverages (42%), automotive (18%), auto parts (13%), iron and steel (9%), and aerospace equipment (2%) are at the forefront of job creation. Notably, the automotive industry alone is expected to contribute 44% of total job creation, equating to 43,842 new direct jobs.
Long-Term Commitment
The Ministry of Economy indicates that these investments will occur over two to three years, underscoring a long-term approach that fosters investor confidence and enhances Mexico’s role in global supply chains.
Conclusion
With a robust regulatory framework, attractive investment incentives, and a growing labor market, Mexico stands out as a prime destination for Foreign Direct Investment. The positive job creation outlook and focus on key sectors make it an opportune time for investors to expand their operations in Latin America. Investing in Mexico offers not just financial returns but also a chance to engage in a promising future.
REFERENCES:
- Saldaña, J. (2024, 2 octubre). 99,000 jobs generated by FDI in Mexico by 2024. MEXICONOW. https://mexico-now.com/99000-jobs-generated-by-fdi-in-mexico-by-2024/
