Mérida and the Yucatán: an Economic Destination
Mérida is not only a cultural center but a financial powerhouse in Mexico as well, with investors from all over the world flocking to trade, invest, and set up shop in the Yucatán capital. If you’re thinking of investing in property in the area, here are some things you should know about Mérida’s economic profile to see why all kinds of businesses from all around the world are establishing their presence here.
- For the past 30 years, Mexico has adopted the privatization of government-owned companies to cultivate liberal practices in international trade. Mérida, the capital city of the Yucatán state, is no exception.
- Principal industries in Mérida include the food sector, the clothing industry, furniture manufacturers, plastic products, and the gold and metal jewelry and gemstones sector.
- Mérida’s primary employment sectors are agriculture, forestry, hunting, animal breeding, and production. Only 1.35 percent of Méridanos are employed in these sectors. On the other hand, 20.5 percent of Méridanos work in the secondary sectors, which include manufacturing, mining, construction, and energy. Most Méridanos (a whopping 78 percent) are employed in the tertiary sectors, such as commerce, transportation, tourism, health, and education.
- Mérida is second among Mexican cities that enjoy a high quality of life. This attracts more investors from around the world to the city, which is home to the majority of the businesses in the state of Yucatán. There are 45,951 businesses in Mérida – 14 in the primary sector, 15,615 in the secondary sector, and 30,322 in the tertiary sector.
- The past years have indicated Mérida’s strong inclination towards the service sector, which exhibits a strong demand for labor, technical, and professional services.
- Another notable industry in Mérida is manufacturing: of aerospace equipment, accessories, electrical and electronic equipment, and electrical power generation equipment.
On the whole, the future is definitely looking bright for Mérida. As Julio Quesada, the President of the Comision Local de Empresarios Jovenes de Coparmex Mérida has said, “People have a positive outlook on coming to Mérida to invest.”