Mexico’s Growing Need for Business – Oriented Branded Hotels
By Jane L. Rogers and Research assistance provided by Raul Duarte, Jul 12, 2011
The growth of populations, businesses, and private investments in regions across Mexico signals a need for more branded hotels to accommodate an influx of business travelers.
Having seen significant expansion over the past several years, it has become clear that Mexico’s urban and industrial corridors offer growth opportunities for developers of business-oriented hotels and brands.
The national economy remains on a stable, long-term trend of post-NAFTA growth and investment, and the media’s focus on peripheral drug-related violence notwithstanding, the vast majority of markets in Mexico remain safe and hospitable to businesses and business travelers alike.
Foreign Direct Investment and Mexico’s Strengthening Economy
Despite a year-over-year loss of 6.6% in 2009, Mexico’s economic recovery took hold during the second half of that year, driven largely by the rising level of exports to the United States. Mexico’s economy grew by 5.5% in 2010 and is expected to grow another 4 to 5% in 2011.
This increase in economic activity has been bolstered by strong foreign direct investment, which in 2010 equated to $17.72 billion (USD). Of this total, 59.7% went to the manufacturing sector, while the commerce and financial sectors received 14.2% and 13.8%, respectively.
