Sunday, May 19, 2024

Walmart to invest over 1B pesos in Quintana Roo expansion

Anticipating an influx of tourists when the Maya Train is completed, Walmart plans to invest more than 1 billion pesos (US $59.3 million) to open 28 stores in the state of Quintana Roo.

“I am pleased to announce that during 2024 and 2025, we will continue to expand in this great state, in this region,” Walmart México Senior Vice President Javier Treviño said. 

The retail giant, which opened its first Quintana Roo store in 1995 — a Sam’s Club in Cancún — will build 25 more stores next year, bringing to 77 the number of Walmarts, Bodega Aurreras and Sam’s Clubs in the Caribbean state.

“Our primary goal is to help people save money and live better,” Treviño added, “We are proud of what we have accomplished in Quintana Roo, and we are excited about the potential for growth here.”

Beyond increasing its presence in Quintana Roo, Walmart also intends to strengthen links with local suppliers and small businesses in the area. 

Treviño told Expansión magazine that the Maya Train, the interoceanic trans-isthmus train, and the growth of nearshoring were all reasons to be bullish on the regional economy. Treviño also told the publication that Quintana Roo’s proximity to the train networks and its ports make it an ideal hub for exports.

Quintana Roo Governor Mara Lezama at an event announcing the Walmart investments in her state. (Mara Lezama/X)

Treviño also pointed to ongoing housing development projects in the state and new investment in tourism infrastructure as additional reasons for the company’s optimism. The state boasts four international airports: in state capital Chetumal, Tulum, Cozumel and Cancún.

The new stores will provide nearly 1,000 full-time jobs, bringing the total of Walmart employees in the state to more than 5,000. Treviño said 23 of the new stores will be located in the Benito Juárez municipality — home to Cancún — four in the municipality of Solidaridad — which includes the resort town Playa del Carmen — and one in the Tulum municipality.

The company invested nearly US $1.5 billion to remodel existing stores and build more than 160 others in Mexico and Central America last year. Executives at Walmart México told Reuters in February that 160 was the highest number of stores it has added to the region in a single year over the past decade. Upwards of 5 million people shop each day at its more than 3,000 stores across Mexico, the company says.

The company is also planning new investment in México state, funneling 1.2 billion pesos (US $71.1 million) through the end of next year to build 43 stores and two distribution centers.

With reports from Expansion and La Jornada Maya

Have something to say? Paid Subscribers get all access to make & read comments.
Waiters carrying trays in a hotel

Is Mexico getting too expensive too fast?

Mexico News Daily CEO Travis Bembenek explains how increased wages without increased productivity can cause serious problems for businesses.
The expansion at Nestlé Purina's Silao plant will create 94 new jobs.

Nestlé Purina to invest US $225M in Guanajuato

The new investment is intended to significantly enhance the company’s production in Mexico, its fourth-largest market in the world.
Construction workers setting up the metal support rods to a building, an image to illustrate foreign investment in Mexico

Foreign direct investment in Mexico hits historic high in first quarter

Foreign investment in Mexico was $20.3B in Q1, an increase of almost $1.7B compared to the same period last year, the Economy Ministry says.