In 2023, Mexico’s investment soared by 19.7%, fueled by the construction industry and machinery purchases, the National Institute of Statistics and Geography (Inegi) disclosed.
Investment in construction jumped 20.8%, and machinery spending grew 18.5%. These increases signal a vibrant economic environment.
Gabriela Siller from BASE Financial Group highlighted the auto sector and public works as major growth drivers, especially in non-residential projects.
Looking ahead to 2024, she expects continued investment growth, spurred by transportation equipment and ongoing infrastructure projects.
Yet, she predicts a slowdown in the latter half of 2024, as projects wrap up before elections.
By 2025, private sector investment will likely be key, given the next government’s limited budget for new public projects.
Mexico Sees 19.7% Investment Boost in 2023
The government predicts a 2.5% to 3.5% economic growth in 2024.
This surge in investment is crucial. It shows confidence in Mexico’s economy and supports job creation.
Additionally, it sets a solid foundation for future growth, underscoring the importance of strategic investment in sustaining economic development.
This investment upswing reflects Mexico’s strong economic resilience and strategic positioning as a manufacturing and export hub, especially for the automotive industry.
It aligns with global trends, where countries are increasing infrastructure and technology investments to boost competitiveness.
Mexico benefits from its proximity to the United States, attracting foreign direct investment for nearshoring opportunities.
This shift strengthens North American supply chains, enhancing regional economic integration.