The state of Yucatan, south of Mexico, is undergoing significant economic growth. As a result, major tourism and industrial projects are being developed through domestic and foreign investment. Stay on this page and discover the main factors that make now the best time to invest in Yucatan:
Economic growth
According to data from Mexico’s National Institute of Statistics and Geography (INEGI), in 2021, Yucatan grew by 8%, exceeding the national average of 5.8%. Currently, Yucatan is ranked fourth in economic growth nationally, and one of the five states with the most development along with tourism hubs like Quintana Roo, Baja California Sur, and Nayarit. This has boosted foreign direct investment, which, during the first nine months of 2022, grew a whopping 489%, well above the national average at 13%, according to the Ministry of Economy.
Connectivity
Due to its privileged location, Yucatan currently has great connectivity by air, land, and sea. By air, Yucatan offers 11 domestic non-stop flights to cities such as Mexico City, Monterrey, Oaxaca, and Tijuana, among others, as well as nine international non-stop flights to cities including Miami, Houston, Oakland, Dallas, Toronto, Guatemala, and Havana.
By sea, Yucatan’s port of Progreso receives sightseeing cruises and cargo ships (carrying agricultural bulk, containerized cargo, hydrocarbons, and general cargo) through seven shipping lines from the United States, Canada, Asia, Europe, and the Caribbean.
By land, Yucatan has wide roads that efficiently connect it with other nearby states. In the coming years, projects such as the Mayan Train will boost tourism through different areas of the state of Yucatan and will favor its connectivity with other tourist areas in Chiapas, Campeche, and Quintana Roo.
Infrastructure
Yucatan also has excellent infrastructure to foster industrial growth, as it is a leading state in internet quality and access, since it has the first IXP Node outside of Mexico City, which strengthens IP traffic in the Mexican southeast.
It also boasts nine electricity generating plants with 1936 MW of installed capacity and a natural gas pipeline with a 780 km trajectory with 250 MMSCFD of current capacity, ideal for the infrastructure of industrial parks and new manufacturing businesses.
Tourism
When it comes to tourism, as of 2022, Chichen Itza is the most visited archaeological site in the country, and has held this position since 2020, according to Mexico’s National Institute for Archaeology and History. Likewise, Merida was named as the fourth best city in the world in the Condé Nast Traveler Magazine Reader’s Choice Awards 2022; the only Mexican city in the top 5, it was only bested by Tokyo, Bangkok and Singapore.
In air passenger arrivals, in 2022, Yucatan hit a new record of almost 3.1 million arrivals. As for passengers by sea, Progreso was third in cruise ship arrivals in the Gulf-Caribbean region of Mexico during 2022, according to the Ministry of the Navy. For overnight tourists, during the first 10 months of 2022, Yucatan registered an increase of 65.1% compared to the same period in 2021.
Security
In security, Yucatan has been ranked first in the Mexico Peace Index, which makes it the most peaceful state in the country, according to the Institute for Economics and Peace. In addition, according to the Executive Secretariat of the National Public Security System, as of the first semester of 2022, crime in the state decreased by 66% with respect to the same semester of 2021; Yucatan remains the state with the lowest intentional homicide rate in the country by registering 1.60 cases per 100 thousand inhabitants. Similarly, Yucatán has reported zero kidnapping cases per 100 thousand inhabitants, ranking first in that category.
The outlook for investment
Yucatan has had significant increases in terms of its economy, tourism, social, foreign investment, connectivity and security, which have allowed for an improved quality of life for its residents. This has also opened the doors to major investment projects from domestic and foreign companies, such as Amazon, Walmart, Uchiyama Manifacturing, Grupo Modelo, etc.
Yucatan has established itself as a state with certainty for investments, because it offers the best conditions for doing business, according to the consulting firm Deloitte in 2021. You too can take advantage of this positive outlook to invest to start and grow your business in Yucatan.
Discover Endemico Industrial Logistics SME Park, our industrial lot project in the Mérida-Hunucmá industrial corridor, and choose to invest.
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