Mérida has gained prominence in the economic sector in recent years.
According to financial specialists, the “nearshoring” trend, also known as relocation or relocation, has gained prominence in the economic sector in recent years, which has driven transnational companies to relocate their operations to Mexico, although initially, this phenomenon favored the Northern and Bajío regions, it has recently begun to transform other areas, such as the city of Mérida and its metropolitan area.
According to a recent report by BBVA bank, investment in real estate, including residential, commercial, and industrial developments, is booming in the region and Mérida stands out for receiving a greater flow of Foreign Direct Investment (FDI), evidencing sustained growth in real estate investment.
“The effects of ‘nearshoring’ have evolved notably. In 2021, there was an increase in the entry of manufacturing companies, especially in the automotive and electronics industries. Today, there is a real estate boom in Merida and other parts of Yucatan,” the report concludes.
Juan Carlos Izaza, a specialist in Corporate, Transactional, and Real Estate Law, explained that this phenomenon is due to the need for relocated companies to form a new local workforce, which in turn creates opportunities in the construction of housing, services, education, and transportation.
“Companies also require well-equipped and connected industrial spaces, and industrial parks in regions such as Merida are attracting significant investments,” he noted. “For decades, the South-Southeast of Mexico has been considered an important source of natural resources and has a privileged geographic location to connect and establish commercial alliances with Europe, which will truly transform this region into a hub of progress and social and economic development,” said the lawyer.
Investment hubs
He added that Mexico’s immediate objective is to channel new FDI towards these growing areas such as the South-Southeast of Mexico, including Yucatan, which has a privileged geographic location to establish commercial connections with Europe.
“This region is destined to become a hub of economic and social development, as demonstrated by the recent Decree of June, which encourages investment in the Industrial Hubs of Well-being Progreso I and Mérida I in Yucatan. This decree, promoted by the Ministry of Finance and Public Credit (SHCP) and the Government of Yucatan, offers tax incentives and administrative facilities to companies that establish themselves in these areas,” recalled Juan Carlos Izaza.
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