FoxNews reports this week that Mexico's unemployment rate fell again last month to 5.1%,down from 5.4% just a month ago as Mexico’s strong economic recovery continues to gain steam. In fact,Mexico’s unemployment performance is currently stronger than any other economy on the globe,save South Korea and the Netherlands,easily beating out the U.S. (9.9%),Canada (8.1%) and China (9.4%).
That’s not so surprising given the fact that last week Moody’s said Mexico’s economy is surging out of the global recession with a 4.3% growth rate,faster than any other modern economy including the U.S. And,Bloomberg put Mexico’s peso at the top of the list of any other country’s currency for its performance against the dollar (7.5%),thus far this year. They both predict Mexico’s economic expansion will continue throughout 2010.
According to KPMG,Mexico already has the lowest business tax rate of any other major country,which has already attracted over 18,000 American businesses (General Motors,GE,Home Depot,Starbucks,Ford Motors,Bristol-Myers Squibb,Kimberly Clark,and Xerox,etc) who are already committed to invest $20 billion more this year alone.
Mexico is also enjoying one of the fastest growing real estate markets in the Americas. Playa del Carmen in the heart of Mexico’s Caribbean Riviera Maya,which a few years ago had only dirt streets,was recently named the “fastest growing city in the world” by Guinness Book of Records. Tulum,just 30 minutes to the south,with the arrival of a new international airport is poised to grow even faster.
From all of the recent economic data coming out of Mexico these days,one thing seems to be clear,if stories of drug violence,illegal immigration,or swine flu have made you hesitate about investing in Mexico then perhaps its time you should take a closer and more serious look.