Doing Business in Mexico
Mexico has a privileged geographical position and many other reasons to attract investors and international groups looking to set up there. The recognized expertise of its workforce, its competitiveness, and its immediate proximity to the world’s largest consumer market, the United States, is the ideal mix for doing business.
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/ The Mexican market in a few words
With a gross domestic product of around $1.5 trillion in 2023, Mexico is one of the largest economies in the world and the second largest market in Latin America. The country is the largest exporter in Latin America and also an attractive location for foreign investment. Some states have developed long-term economic plans and offer incentives depending on the location, industry, etc. incentives, including tax reductions.
Mexico is an important trading partner for Germany and other European countries. Germany is Mexico’s fourth most important supplier, with an average share of around 4% in recent years. Mexico’s strengths include a large domestic market of inhabitants, a large (well-educated) labor force and good connections to the US market, thanks to the US-Mexico-Canada Agreement (UCMCA). Mexico also has a free trade agreement with the European Union and is a member of the Trans-Pacific Free Trade Agreement (CPTPP).
A large part of Mexico’s development is in the export industry. The automotive sector is an important industry; about 80 % of the vehicles produced are exported, mainly to the USA. There are still opportunities for German companies, especially Tier 2 and Tier 3 suppliers, as production has not been local so far and is very important, especially because of the current problems in the supply chain.
In the food production sector, packaging machinery, equipment, etc. are still needed. Other sectors with growth potential are environmental technology, plastics processing, construction and alternative energy. Some of the most important reforms the country will implement are in the energy sector. It is part of the government’s comprehensive plan to become energy-independent in the coming years.
127.5 M
Population
MXN
Currency
1.5 tn
GDP (Dollar)
3.9%
Economic Growth Rate
/ ALTIOS in Mexico
With strong expertise in business setup, ALTIOS Mexico supports mid-cap companies in their incorporation and expansion processes in Mexico and the LATAM region.
Mexico is strategically located as an ideal hub for businesses looking to access markets across the region. It serves as a gateway connecting North America with Central and South America, facilitating easier logistics and access to a diverse range of markets.
ALTIOS Mexico is established in the country since 2011 with an office in Mexico City and provides a wide range of integral and tailored-made services:
- Growth Strategy: Market expansion, JV/Strategic Business Partnerships
- Global HR Solutions: Recruitment, Payroll Management / Incubation
- Subsidiary Set-up & Management: Incorporation & Domiciliation, Compliance, Accounting, HR, Tax
- Investment: Cross-Border Acquisition, Greenfield / Brownfield Investment
We have established a strong network of partners and stakeholders across Latin America (banks, trade associations, private equity funds, government agencies and industrial clusters), facilitating collaborations and strategic partnerships for our clients to foster business growth and successful market entry strategies.
In this video, Jorge Prats, Head of Advisory for Mexico & LATAM, explains how attractive Mexico is for setting up a company and how it serves as a gateway to the Andean countries and the Southern Cone.
/ Set Up a Business in Mexico
/ Ready to grow in Mexico?
Our team of friendly experts loves nothing more than helping businesses like yours get off to a flying start in Mexico.
