As more and more major manufacturers opt to leave China for locations closer to their corporate headquarters,Mexico stands to benefit more than any other country from this new trend. China no longer offers the bargain it did even just a few years ago,due mainly to their strengthening currency and rising minimum wage,in a trend that some of the world’s top economists are predicting will continue in the coming years.
Mexico,on the other hand,is expected to remain a low-cost manufacturing option for global companies for years to come. The North American Free Trade Agreement (NAFTA) has helped Mexico increase the amount of goods it can ship north of the border since it was signed into law back in 1994,and today around 70% of the country’s exports are shipped to the United States. This number is expected to reach at least 75% this year,based partially on the fact that Mexico’s exports rose 13% in 2011 alone,reaching an impressive $336 billion at the year’s end.
In addition,Aeroportuario del Sureste (ASUR) has announced a significant increase in passenger traffic at nine of Mexico’s regional airports,growing by 10% in January as compared to the same period in 2011. Many of these passengers have been business executives who are traveling to destinations throughout Mexico real estate from around the world in record numbers to check out the country’s multitude of new manufacturing opportunities.
When it comes to the growing Mexican export sector,U.S.-based trucking and logistics firm Celadon Group currently has six freight terminals located in Mexico,while wireless phone service provider NI Holdings is investing in 3G Spectrum here. In addition,Mexican media firm Grupo Televisa has the best long-term outlook in the company’s history,thanks in part to Mexico’s rising middle class,which is growing by leaps and bounds due to the country’s growing number of manufacturing jobs.