Mexico’s economy has been climbing steadily over the last several years and with continual growth comes the attention of people that are in the business of making money.
Dan Restrepo, a senior partner at the Center for American Progress who served as special assistant to President Obama on issues related to Latin America, explains that companies are seeing enormous opportunity not only with the Mexican market but the growing U.S. Latino population.
Restrepo says, “You’re seeing U.S. companies recognizing the value of being part of, in essence, two emerging markets: Both Mexico as an emerging market and U.S. Latinos as an emerging market.” He continued, “If U.S. Latinos were a standalone economy, we would be the world’s 12th largest economy, we would be a member of the G-20. That’s 55 million people, roughly a trillion and a half dollars in purchasing power. Companies are starting to realize that there are plays into Mexico that are also plays into this kind of shared economic space.”
With more than $5 billion spent on advertising in 2015, Mexico is the most important advertising market in Latin Americas Spanish-speaking countries, according to e Marketer.
“You turn on your television and you see the T-Mobile ads about free roaming in North America or call packages that include the U.S. and Mexico as a single cellular market,” said Restrepo. “That’s an example of where we’re headed.”