Investment: Yucatan, Mexico (part two)

Shoppers enjoy top notch retailers at Altabrisa Shopping Center in Merida, Yucatan, Mexico

This is the second article about investing and doing business in the Mexican state of Yucatan.  Please click here to read the article and catch up if you landed here first.

Our last article focused on the safety of the region and its place as a regional capital for millions of people in southeastern Mexico.  We also highlighted the infrastructure already in place and the highly trained workforce here.  The region has a vibrant economy that is growing stronger every year.  There is a lot going on in Yucatan and we think that makes it an attractive place to do business.  If you are interested in our take on the local economy read on.  For a complete listing of articles in a series we are calling, “Investment: Yucatan, Mexico” click here.  

Strong Growth Brings High Quality of Life

All of this growth and infrastructure could not be possible in the region if it was not for the safety and security that the area provides.  This is a big draw for residents that move here from other parts of the country- especially in recent years.  There is currently a strong influx of new residents from northern states who seek a safer environment to do business and raise their families.  Each year brings significant residential and commercial development within the city if Merida as well as outlying areas.

As the population grows so does the need for amenities to support the needs of the community.  The region now features several modern shopping centers featuring big box stores like Sears and Walmart as well as high end retailers Liverpool and Chapur.  Tucked in between these giants are combinations of brand name stores familiar to expats as well as national and regional chains.  There are movie theaters, a symphony, theatre productions, museums of all kinds, art galleries, five-star restaurants, bars and nightclubs that can satisfy just about any cultural or entertainment need.

Combine all the familiar retail and entertainment options with local, family owned business that offer high levels of customer service at extremely competitive prices and you have the best of both worlds.  You can start your day with an amazing espresso at Cafe Latte in the Itzimna neighborhood and then head north to shop for the latest in international fashion at Galerias Merida.  Then you can head over to the Altabrisa shopping center and watch a movie in 3D for less than $5.50 US at Cinepolis, a national movie theater chain.  After your day of indulgence you can fill up on some of the best tacos in the style of central Mexico at one of many inexpensive taquerias dotting the Francisco de Montejo neighborhood.

The terrace cocktail and reception hall at the Opera House- Merida, Yucatan, Mexico

The safety of the region, strong infrastructure, highly-trained workforce, culture and amenities make this a great place to live and invest.  Combine all these features with the fantastic exchange rate between the Mexican Peso and many of the world’s currencies and the environment is right to “set up shop” and be a part of the area’s growth.

The Focus of the Series

Maybe we convinced you to consider investing in the region.  Maybe you already considered opportunities here.  Either way, it is one thing to dream about success here and another to actually make it happen.  Unless you have extensive understanding about local regulations, policies and procedures you will likely hit a few roadblocks on the way to accomplishing your goals.  Despite some challenges we think you will find the process rewarding.  In the meantime we hope to shed some light on topics that can help you avoid pitfalls from some of the most experienced experts in the region.

• Explore the ins and outs of local real estate
• Get tips on tax policies and procedures
• Gain insight on labor laws and employee relations
• Connect to the right government offices for the permits and licenses you need to operate
• Weigh your local banking and investment options
• Find the best contractors based on your needs
• Discover the best transportation options available to make your business a success
• And much more…

We hope to be a resource you can depend on to get the information you need when you need it.  Of course we can’t possibly cover every topic and attack it at every angle.  This is why we hope to lean on you to point us in the right direction.  Share your insight by commenting and offering your advice based on your experiences.  If you have a topic you think others would benefit from learning more about please let us know!  Of course you are always welcome to offer your opinions.

As we explore the many facets to investing and doing business here in Yucatan we have just one thing to say:

It is nice to meet you… Es un placer conocerte… Hach ki’imak in wo’ol in kaholtikech…

Note: You can read the 2009 Yucatan Investors Guide here.  Many of the statistics used in this article were obtained here.