Chinese brands have exploded onto the Mexican market, and are on track to capture a 20% market share by the end of the year. (Jenson/Shutterstock)
More than 80,500 Chinese cars were sold in Mexico in the first eight months of this year, with Chinese brands on track to account for 20% of the domestic car market.
The Mexican Association of Automotive Distributors (AMDA) said on Wednesday that Chinese car imports have increased by 62.6% during 2023 so far, growing their market share from 5.7% to 19.4%.
MG was the top-selling Chinese-owned brand, with more than 35,000 cars sold so far in 2023. (MG Motors/Instagram)
“The arrival of Chinese brands increases the [number of available] offerings and has contributed to the updating of the inventory available in our market,” AMDA president Guillermo Rosales said at a press conference.
Four brands currently dominate the market for Chinese-owned brands in Mexico. MG Motors sold 35,322 units in the first eight months of 2023, followed by Chirey Motor with 26,174, JAC with 12,840, then the Motornation collection of 3 brands, with 6,208.
According to consultancy J.D. Power Mexico, more Chinese firms are now entering the market, including BYD, Omoda, Jetour, GWN Motors and Geely Autos.
“We know that there are seven more confirmed brands that are going to start operations in Mexico and this will give us, not an exponential growth, but a substitution, a fight for the market,” said J.D. Power’s director, Gerardo Gómez.
BYD manufactures vehicles for Bimbo, Lala, Cemex and FEMSA, as well as for ride-sharing app DiDi. (User3204/Wikimedia)
BYD, which first started to explore the Mexican car market a year ago, exemplifies this growing competition. The Chinese company already supplies trucks to brands including Bimbo, Lala, Cemex and FEMSA, as well as manufacturing vehicles for ride-hailing app DiDi. On Thursday, it launched the ‘Dolphin,’ its first electric vehicle for the Mexican domestic market, of which it expects to sell up to 30,000 units next year, according to BYD Americas’ president, Stella Li.
“We will import the vehicles at first, but we have plans to produce vehicles in Mexico,” Li told El Financiero newspaper. “We are doing the research, but we haven’t decided the location yet.”
The arrival of new Chinese brands is just one factor driving dynamism in Mexico’s car market. According to Rosales, traditionally popular brands in Mexico – such as Nissan, Volkswagen and General Motors – are also bringing new models onto the market as they recover from the drop in demand caused by the COVID-19 pandemic.
“We can observe it on the sales floors of the distributors, with increasing coverage and approaching normal conditions,” Rosales said. “We expect this to continue in the coming months, and foresee a 2024 with greater competition among all participants.”
According to the national statistical agency (INEGI), sales of new cars in Mexicogrew by 23.8% last month, reaching 113,873 units, the strongest year-on-year growth Mexico’s automotive industry has seen in the month of August for 23 years.
San Miguel de Allende, Guanajuato is one of the most-searched Mexican destinations for vacation home buyers, according to Point2. (Shutterstock)
Large numbers of people in the United States aspire to own a home in Mexico, a recent analysis suggests.
Mexico is the “most wanted destination for U.S. homebuyers looking for a home in the Americas,” according to the real estate company Point2 Homes.
Beach destinations like Tulum are some of the most desirable locations for second home buyers. (Jared Rice/Unsplash)
That conclusion is based on the number of people in the U.S. doing web searches using Mexico-relevant real-estate related keywords such as “homes for sale in Mexico” or “Puerto Vallarta homes.”
The news division of Point2 Homes – which conducted the web search analysis – reported that the average number of Mexico-related real estate searches in the U.S. was 136,530 per month during the 12 months to the end of June, up 3.3% from a year earlier.
Such searches surged almost 60% in a 12-month period prior to the publication of Point2 Homes’ 2022 study, which noted that Mexico had retained its title as “the king of vacation destinations and locations for second homes” for United States citizens.
Point2 said in its latest report that “Mexico remains undefeated” as the most desirable country in the Americas for U.S. homebuyers, despite only a modest annual increase in related web searches.
Mérida, Yucatán has become an increasingly popular destination for foreigners. (Shutterstock)
“With more than 130k monthly visits, this land of endless, dazzling beaches and rich culture continues to attract buyers,” the company said.
Point2 said that the only modest increase in online interest in homes in Mexico compared to a year earlier “could prove that the pioneers leading the work-from-everywhere movement are all done searching and buying, leaving the laggards behind.”
“Or, it could be that this year, American buyers have zoomed in on other destinations,” the company said, noting that interest in purchasing a home in Canada – ranked as the “second most wanted destination” in the Americas – had surged 54% in annual terms.
The “most sought-after locations” for home ownership in Mexico, Point2 said, were the Jalisco resort city of Puerto Vallarta, Guanajuato’s colonial gem San Miguel de Allende, Baja Sur hotspot Cabo San Lucas, trendy Tulum in Quintana Roo and Yucatán capital Mérida.
Who is interested in buying property in Mexico?
Point2 Homes’ internet traffic data showed that men were responsible for just over 58% of Mexico-relevant real-estate related searches in the United States in the 12 months to the end of June, while almost 42% of searches were made by women.
U.S. residents aged 35 to 44 made 23.7% of the Mexico real estate-related searches during the period, more than any other age cohort.
According to the Point2 survey, the 35-44 age demographic was responsible for the largest percentage of searches compared to other cohorts. (Point2homes.com)
Those aged 25-34 and 45-54 were each responsible for just over 20% of total searches, while Americans in the 55-64 bracket accounted for 15% of searches. The percentages for those aged 18-24 and 65+ were 12% and 8.5%, respectively.
“The surprising part is that people in the youngest age bracket (18 to 24 years old) are driving traffic to Mexico’s real estate pages more than retirees,” Point2 said.
“People aged 65 and over, who might be interested in warmer climate areas to buy a home and retire to are outnumbered by their much younger peers.”
Just over 57% of Mexico-related real estate searches in the U.S. over the past year were for houses, Point 2 said. About one-third of the searches were for apartments while just over 10% were for land.
According to Point2, potential buyers are looking mostly for houses, and primarily in coastal destinations like Cabo San Lucas. (John Cafazza/Unsplash)
In a statement to The Epoch Times, Andra Hopulele of Point2 offered some insight into what buyers are looking for.
“First off, it should be a better version of the home they already live in and boast all the amenities they love or would love to have; and second, the location should be exceptional. That’s why beach and waterfront properties in countries like Mexico, Puerto Rico and Costa Rica immediately come to mind,” she said.
Around the web
Bloomberg reported earlier this year that low crime rates in the state of Yucatán had led to an influx of real estate investors, “some from the U.S. and Canada, who have renovated old houses in downtown Mérida and put them up for rent on Airbnb Inc.”
The news organization said that a three-bedroom luxury home in the historic center of Mérida “might cost about [US] $700,000, while an apartment by the beach overlooking the Gulf of Mexico could go for $340,000.”
The Times cited data from statistics website Statista that showed that the average home price in Mexico City was about 2.9 million pesos in the first quarter of 2022, “making it Mexico’s most expensive market,” but still “more affordable than many markets in the United States.”
Statista’s data for the first quarter of 2023 shows that the average price of a home in Mexico City was 3.66 million pesos (about US $213,000), a 26% increase in the space of a year.
Nayarit had the second most expensive real estate among Mexico’s 32 federal entities, according to Statista, followed by Morelos, Baja California Sur and Querétaro.
Durango had the cheapest average housing price followed by Tamaulipas, Zacatecas, Tlaxcala and Hidalgo.
A giant "Chucky" doll ended up in handcuffs after its own was arrested for threatening behavior. (TerrorActo/X)
Police in the northern Mexican city of Monclova, Coahuila have arrested a large “Chucky” doll for allegedly threatening passersby.
The doll, made famous by the 1988 horror film “Child’s Play”, in which it was possessed by the soul of a criminal before carrying out a series of murders, has long been a fixture of the Halloween season.
The doll was taken to the local police station. (César Cespada/X)
According to local media, the doll was operated by a man known as Carlos “N”, who used a large knife to threaten people on the street and demand money. When police arrived at the scene on Wednesday, Carlos and “Chucky” were both arrested and handcuffed, and were charged at the scene with disturbing public order and endangering the public.
Images of the handcuffed “diabolical” doll quickly spread on social media. Authorities in Monclova say the police officer who carried out the arrest has since been sanctioned for her failure to carry out her duties in an appropriate manner. The officer claims that the doll was handcuffed at the request of local media.
While Carlos “N” was released later that day, there have been no reports on whether “Chucky” has remained in police custody.
At 113th, Grupo Bimbo was the highest-ranked Mexican company on the list. (Pedro Hiriart/Muca UNAM)
TIME magazine and research provider Statista have released a list naming the 750 companies that are “changing the world”. 10 Mexican companies made the final list, and Grupo Bimbo was revealed to be the highest-ranked Mexican firm, falling just outside the global top 100.
Where does Grupo Bimbo rank compared to other global companies?
Mexico City-based Bimbo are the largest breadmaker in the world. (Grupo Bimbo)
The world’s largest bread maker ranked No. 113 in the World’s Best Companies list, just after logistical giant Fedex and above Swedish fashion chain H&M.
Grupo Bimbo ranked as the fourth best company in the Food & Beverage category beating PepsiCo (No. 124), Danone (No. 230), Heineken (No. 290), Keloggs (No. 305), Hershey (No. 425) and Kraft Heinz (No. 642).
Employing more than 145,000 people in 34 countries throughout the Americas, Europe, Asia and Africa, Grupo Bimbo also beat multinationals in other industries including Santander (No. 134), Hyundai (No. 151), Chanel (No. 154) and Expedia (No. 336).
“Since our founding 78 years ago, we seek to be an agent of change that positively impacts the communities where we operate in, contribute to caring for and regenerating natural systems, as well as always offering the best products with the highest quality to all our consumers,” General Director of Grupo Bimbo Daniel Servitje said in a statement regarding the company’s ranking.
Which other Mexican companies made the list?
Banorte was the second-highest-ranked Mexican company on the list, at 242nd overall. (Banorte)
Coming in as the second best Mexican company was Banorte at No. 242. FEMSA (owners of convenience chain OXXO) followed at No. 285, then department store group Liverpool came in at No. 294, América Móvil at No. 348 and Cemex at No. 388. Grupo México (a conglomerate that owns mines and railways) was listed as No. 463.
Other Mexican firms on the list included Grupo Elektra, Lala, Carso and Gruma.
What were the criteria?
The ranking was based on a formula which considered employee satisfaction, financial growth and sustainability achievements (ESG).
Companies were ranked for employee happiness, revenue growth and sustainability. (Grupo Bimbo)
TIME’s economic correspondent Alana Semuels explained that the rankings show “just who dominates the world order with fast-moving tech and business-services companies unseating the manufacturers and consumer-goods companies that once drove the global economy.”
Big tech companies dominated the upper echelons of the list. Microsoft, Apple, Alphabet (formerly Google) and Meta ranked as the five best companies in the world.
There are work opportunities in Mexico that could be made available to migrants in the country, according to the Coordinating Business Council (CCE). (Cuartoscuro)
Mexican employers are working on an initiative to offer temporary employment to migrants in transit through the country, according to Francisco Cervantes Díaz, president of the Mexican Business Coordinating Council (CCE).
Cervantes said at a press conference that he had already discussed the idea with the director of the National Immigration Institute (INM), Francisco Garduño.
Francisco Cervantes, head of the Business Coordinating Council (CCE) made the announcement at an event in Oaxaca on Wednesday. (Carolina Jiménez/Cuartoscuro)
“[Migrants] are looking for an opportunity, and we could offer them well paid job opportunities,” Cervantes said. “There is a lack of workers, we can find a way with the federal government to give temporary permits and training; it’s a matter of humanity.”
Cervantes made the remarks to reporters following the signing of the Oaxaca Initiative, which seeks to promote foreign investment in the southern state. Oaxaca Governor Salomón Jara Cruz and U.S. Ambassador to Mexico Ken Salazar were also present.
“Through our group Friends for Oaxaca, we believe that we can contribute to the development of this state through a work route that allows us to shore up the south-southeast,” Cervantes said.
Cervantes also stressed that Oaxaca in particular has a need for additional labor, given upcoming infrastructure projects such as the Interoceanic Corridor of the Isthmus of Tehuantepec (CIIT), which includes 10 new industrial parks in Oaxaca and Veracruz.
Oaxaca has seen an uptick in the arrival of migrants coming up from Mexico’s southern border. (Cuartoscuro)
Oaxaca is also one of the stateslocated on the route most commonly taken by migrants from the Guatemalan border to Mexico City and the United States.
Although the idea of offering temporary work to migrants is still in its early stages, Cervantes said that the CCE’s Executive Committee is working on a database to help make it a reality.
President Andrés Manuel López Obrador announced a government plan to assist migrants in May, which would offer one-year visas to Central American migrants to work on public infrastructure projects in Mexico such as the Interoceanic Corridor and the Maya Train.
“We need a workforce for these projects, especially… skilled labor,” AMLO said at the time, stressing the need for engineers, ironworkers and other tradesmen. He even said that the government would launch a campaign to attract migrants, by spreading the word in Central America that salaries in Mexico are increasing.
However, the government has yet to release any data on the progress of this program.
President López Obrador highlighted the latest inflation data published by INEGI at his Friday morning press conference. (MARIO JASSO/CUARTOSCURO.COM)
Inflation continued to decline in the first half of September, but the annual headline rate remains above the central bank’s target ahead of a monetary policy decision next week.
Annual headline inflation was 4.44% in the first half of the month, the national statistics agency INEGI reported Friday, down from 4.64% in August. Consumer prices rose 0.25% compared to the second half of August.
This chart shows annual headline inflation rates from the first half of June 2022 through the first half of September 2023. (lopezobrador.org.mx)
The annual core inflation rate, which excludes volatile food and energy prices, was 5.78%, down from 6.08% in August. The core index rose 0.27% compared to the second half of August.
The annual headline rate is slightly lower than analysts forecast while the core rate is slightly higher. Inflation has declined every month since February, after the headline rate spiked to almost 8% in January.
The publication of the latest inflation data comes six days before the Bank of México (Banxico) board meets to discuss interest rates. Banxico targets 3% headline inflation with tolerance for one percentage point in either direction.
The central bank’s benchmark interest rate was raised to a record high of 11.25% in March and kept at that level following monetary policy meetings in May, June and August.
Given that the headline rate remains above the Banxico target, it appears likely that board members will vote once again in favor of maintaining the record high rate next Thursday.
After the Aug 10. monetary policy meeting, Banxico said, “In order to achieve an orderly and sustained convergence of headline inflation to the 3% target, [the board] considers that it will be necessary to maintain the reference rate at its current level for an extended period.”
The central bank raised its benchmark rate by 725 basis points during a hiking cycle that began in June 2021 and didn’t end until its decision in May to maintain the 11.25% level.
At the U.N. on Monday, Foreign Minister Alicia Bárcena reiterated Mexico's commitment as part of the Global Coalition to Address Synthetic Drug Threats. (@SRE/Twitter)
Fentanyl seizures in Mexico have increased tenfold in the last five years compared to the previous five, according to Foreign Minister Alicia Bárcena Ibarra, who said Mexico accounted for a quarter of global seizures from 2020 to this year.
Bárcena shared the figures at the 78th session of the United Nations General Assembly,during a presentation on how Mexico is confronting the threat of trafficking of synthetic drugs like fentanyl.
Fentanyl seizures in Mexico have increased tenfold in the last five years compared to the previous five, according to Foreign Minister Alicia Bárcena’s progress report at this week’s United Nations General Assembly. (Gob MX)
“The actions implemented between 2020 and 2023 by our country represent 25% of fentanyl seizures globally,” she said, adding that a 1,049% increase was seen between the period 2014-2018 and the period from January 2018 to March 2023.
Mexico’s recent successes in the fight against fentanyl also include the arrest in January of drug trafficker Ovidio Guzmán – son of notorious Sinaloa Cartel capo Joaquín “El Chapo” Guzmán – who was extradited to the United States last week.
Bárcena stressed that international collaboration is crucial in the fight against the potent synthetic opioid fentanyl, which caused 70,000 deaths in the United States last year alone.
She highlighted Mexico’s participation in the Global Container Control Program to monitor drug trafficking through seaports, as well as two pilot programs to track chemical imports and detect emerging precursors.
Bárcena stressed that international collaboration is crucial in the fight against the potent synthetic opioid fentanyl, and recognized Mexico’s role in the illegal drug trade. (Gob MX)
U.S. authorities accuse Mexican cartels of manufacturing fentanyl using Chinese precursor chemicals and then trafficking the substance over the border.
“Mexico has established very close communication with China, with India and with Korea because we want to analyze the chains of the precursor chemicals of fentanyl production and we want to help in this terrible pandemic,” Bárcena said.
China, however, has denied responsibility in the fentanyl supply chain, and refused to join Mexico in the Global Coalition to Address Synthetic Drug Threats launched by the U.S. in July. Mexican President Andrés Manuel López Obrador, on the other hand, has previously denied that fentanyl is manufactured in Mexico, claiming it comes directly from China.
While Bárcena’s speech accepted Mexico’s role in the illegal drug trade, she stressed that combatting arms trafficking is crucial to undermining the power of organized crime.Most illegal weapons in Mexico are trafficked from the U.S.
Fentanyl caused 70,000 deaths in the United States last year alone. (Guardía Nacional)
Bárcena also advocated addressing the fentanyl crisis from “a preventive approach through public health,” focusing on the “structural causes” that lead to addiction.
In her remarks at the launch of the Global Coalition, Security Minister Rosa Icela Rodríguez added that cultural, moral and spiritual values form the “principal vaccine” against this social and public health problem, and must be reinforced.
The temporary closure of Bridge 1 may last days or weeks as Texas border authorities respond to increasing numbers of migrants arriving in Eagle Pass. (Cuartoscuro)
Another land crossing from Mexico to the United States has been temporarily closed after the mayor of Eagle Pass, Texas declared a state of emergency due to “a significant influx of immigrants.”
On Wednesday, U.S. Customs and Border Protection (CBP) temporarily suspended vehicle processing operations at Bridge No. 1 connecting Piedras Negras, Coahuila, to Eagle Pass “in order to redirect personnel to assist the U.S. Border Patrol with taking migrants into custody,” the agency said in a statement.
U.S. authorities closed Bridge No. 1 on Wednesday, but Bridge No. 2 (Camino Real) remains open to crossing vehicles. (epbusiness/X)
“In response to this influx in encounters, we will continue to surge all available resources to expeditiously and safely process migrants. We will maximize consequences against those without a legal basis to remain in the United States. CBP will continue to prioritize our border security mission as necessary in response to this evolving situation,” the statement added.
Authorities also shut down the international railway bridge in Eagle Pass, although Bridge No. 1 remained open for pedestrian crossings.
The measures took effect at 6 p.m. Wednesday “until further notice,” Maverick County, which includes the city of Eagle Pass, posted on X, formerly Twitter. “All vehicles must use Bridge No. 2 to cross into Mexico and/or the United States,” the post reads.
“The closure is due to the significant influx of migrants in the region,” the county added.
Migrant crossings at unofficial points along the U.S.-Mexico border have increased in the last week, leading U.S. authorities to close bridges in El Paso and Eagle Pass. (Anna_Giaritelli/X)
In addition, the U.S. Department of Defense (DOD) will send some 800 new active-duty personnel to the border, where 2,500 National Guard members are already serving, Department of Homeland Security (DHS) officials said Wednesday.
Migrant crossings along the U.S.-Mexico border surpassed 8,600 over the last 24 hours, DHS officials said, according to a CNN report. The busiest border sectors include Del Rio (where Eagle Pass is located) and El Paso, Texas.
The influx has strained federal resources and overwhelmed already-crowded facilities, officials have said.
According to authorities in Piedras Negras, more than 8,000 migrants have gathered in the northern area of the state of Coahuila. Most are from Central America, they said.
The bridge closures will negatively impact many families who do business on both sides of the border. (Wikimedia Commons)
On Tuesday, local officials had requested intervention from the Mexican government so as to avoid the bridge closures, which affect cargo trucks and families that have activities in both Texas and Coahuila.
Earlier this week, CBP issued a “temporary suspension” of cargo processing at the Bridge of the Americas on the Ciudad Juárez–El Paso border. CBP said in a statement that it needed its officers in the area to assist in processing migrants arriving outside of official crossings.
The U.S. and Canada have challenged current energy policy under the USMCA free trade pact, but stopped short of asking for a dispute settlement panel. (Shutterstock)
The United States has once again pressured Mexico to address concerns over the energy policies implemented by the current Mexican government.
In a meeting in Mexico City with Deputy Economy Minister for Foreign Trade Alejandro Encinas Nájera on Wednesday, the Deputy United States Trade Representative Jayme White “underscored the pressing need for Mexico to address the serious concerns that the United States has raised during the ongoing consultations under the USMCA regarding Mexico’s energy measures,” according to a statement issued by the Office of the United States Trade Representative (USTR).
Deputy U.S. Trade Representative Jayme White with Deputy Economy Minister for Foreign Trade Alejandro Encinas Nájera. (Secretaría de Economía/X)
In July 2022, U.S. Trade Representative Katherine Tai requested dispute settlement consultations with Mexico under the United States-Mexico-Canada Agreement, or USMCA, regarding policies that favor the Federal Electricity Commission and state oil company Pemex over U.S. energy companies that operate in Mexico.
“We have repeatedly expressed serious concerns about a series of changes in Mexico’s energy policies and their consistency with Mexico’s commitments under the USMCA,” Tai said at the time.
“These policy changes impact U.S. economic interests in multiple sectors and disincentivize investment by clean-energy suppliers and by companies that seek to purchase clean, reliable energy.”
The dispute settlement consultations are ongoing 14 months later even though the United States has been pushing for prompt resolution almost since the beginning. The U.S. so far has decided against requesting the establishment of dispute settlement panel to deal with the matter, even though it could have done so 75 days after it first asked for consultations.
U.S. Trade Representative Katherine Tai with Mexico’s Economy Minister Raquel Buenrostro earlier this year. Tai has repeatedly emphasized U.S. concerns about Mexican energy policy in relation to the USMCA trade pact. (Katherine Tai/X)
President López Obrador, a fierce critic of the 2014 reform that opened up Mexico’s energy sector to foreign and private companies, remains reluctant to change the government’s nationalistic policies.
Ambassador White raised other concerns during his meeting with Encinas, whose father is Deputy Interior Minister for Human Rights Alejandro Encinas Rodríguez.
White “reiterated concerns about the recent surge in U.S. imports of certain steel and aluminum products from Mexico and the lack of transparency regarding Mexico’s steel and aluminum imports from third countries,” the USTR statement said.
Mexico has requested a USMCA review of antidumping quotas on steel, while the U.S. has expressed concern about a “surge” in Mexican steel imports to the United States. (Shutterstock)
The USTR also said that White and Encinas “discussed the importance of making progress in the ongoing USMCA consultations regarding Mexico’s enforcement of its fisheries-related environmental laws.”
Among other matters discussed by White and Encinas were “the regulatory environment for medical device manufacturing” – a growing sector in Mexico – the “importance of competition in the telecommunications sector” and “conducting procurements in accordance with USMCA obligations in an open and transparent manner.”
The USTR readout of the meeting didn’t mention the dispute between Mexico and the United States over the former’s genetically modified corn policies. The U.S. government last month requested the establishment of a dispute settlement panel to resolve that issue.
The meeting between White and Encinas came ahead of the second USMCA Small and Medium Enterprise Dialogue, which was held in Mexico City on Thursday.
Since he arrived in Mexico in the 1990s, he has watched Mérida flourish, hosting an extraordinarily diverse and peaceful community as well as becoming a prime destination for savvy real estate investors seeking a slice of Mexico’s booming property market.
The Yucatan peninsula is its own little place in Mexico. “Mérida and the Yucatan have a potent magnetism, and I say that in a corporeal sense”, Mitchell says. He explains that when the Chicxulub crater crashed into the Gulf of Mexico off the coast of Yucatan, it created beautiful cenotes (deep water sinkholes), and the entire area near the crater’s impact is imbued with a magnetic feeling. “People get attached. There’s beauty and magnetism here like nowhere else I’ve been”. And, he says, “There is no snow – no freezing temperatures. April to September is our hot season, so the best time to visit is November through March”. His favorite month is June when the trees are in bloom and there are carpets and canopies of orange from the Flamboyant trees.
With its unique blend of beach, rich Maya heritage, vibrant urban development, and a diverse expatriate and Mexican community, word has it that Mérida is the place to be in Mexico. The mass of new investments is the result of Mérida being one of the safest cities in Mexico. “It’s a positive push-up and has had a big effect on our growth”, Mitch says. “Colonial homes are around 60% of our sales, beach properties are around 30%, and 10% are ranches and haciendas. There are plenty of appealing new builds, and even the one bed and bath condos are flying.” Mexican president Lopez Obrador has poured a wealth of capital resources into the Yucatan area, which now is home to the largest infrastructure project in Mexico – The Maya Train.
“I was in Denver when Denver was booming, but I’ve never seen anything like what’s happening in Mérida real estate. And the boom is sustainable.” After the pandemic, people wanted to detach from the big cities and move away. “We’re still closing deals from 2021 when our sales were off the charts.”
Mitchell Keenan, owner of Mexico International Real Estate.
Whether you love culture or cuisine, Mérida has it all
Twice voted “Cultural Capital of the Americas” in 2000 and 2017, he speaks about a great sense of people coming together in business and the arts, with investments in infrastructure that rival anywhere in Mexico. Not only offering pristine, beautiful beaches and cenotes, there is also a wealth of Maya ruins, hotels, restaurants and arts venues. “My partner Miguel and I moved here because Mérida absolutely offered the best lifestyle for us, in Mexico. There is an extraordinary diversity of community: musicians, artists, retirees, young entrepreneurs, Mexicans from all corners of the country.” He reiterates it is possible to live well and less expensively and that “you don’t have the kinds of cultural divisions that you see in other countries.” Even though the Maya are still here in enormous numbers, foreigners are welcomed. The three tiered theater, Teatro José Peón Contreras, is currently being rebuilt. Culture is affordable for everyone, offering lots of free events and NGO community initiatives, like the Full Moon Jazz Festival in February, whose profits go to Telchac Education, “keeping kids in school”.
Like any growing city, the traffic has increased. Still, the government is making investments in new bus services and the refurbished train station, which welcomes both the famous and infamous Maya Train, making travel around the peninsula easy, fast, and luxurious. “There is no doubt the train will be great for tourism and the local economy,” Mitch says.
“The chefs here are super-trending,” Mitch also informs us, citing the recent convention presenting 50 of Latin America’s best chefs. Mérida’s restaurant row, Paseo de Montejo, is full of gourmet dining options. “Oliva Enoteca is fabulous, and Hennessey’s Irish Pub, an Irish pub run by Sean Hennessy & Colm Cooney, offers the best food at the best prices.” Young celebrity chef Nidia Sanchez, who owns Yerba Santa in the iconic historic mansion, El Minaret, came from Chiapas through Mexico City and offers inventive recipes solely inspired by her mother’s home cooking.
This melting pot of nationalities still intrinsically values Mexico’s cultural roots. “There’s no city quite like this in all of Mexico!” Mitch opines.
Why Mérida is one of the safest cities in Mexico
With the genuine philosophy of “we’re here to help”, Mérida has a robust federal, state, tourist and traffic police presence. Still, there’s a fascinating more profound cultural history as to why this non-invasive “army” feels more like a vigilant but friendly family who keeps the population safe. The original elite of the elite families of Yucatán, all multi-billionaires, wanted to keep this area safe for their families and their offspring. “Pemex discovered oil off this coast, but the families held sway, and Pemex was not allowed to drill nearby and construct oil platforms like in Campeche,” Mitch tells us. Unlike the party capital of the coast, Cancun, Mérida has a cultivated, civilized and safer mindset with its notable community policing policy, insisted upon by these elite founding families.
Mérida delivers excellent healthcare at affordable prices
With ER visits costing as little as $35-$50, Mérida residents have a wide range of hospitals and clinics. “Amongst my clients and friends, the elderly have received treatment for everything, and they all rave about doctors’ pricing and the numerous new modern, updated clinics and hospitals.” Mérida also has its fair share of medical tourism and offers specialization in orthopedic, cosmetic, LASIK, dental and cancer treatments.
One survey of 100 expats conducted by Life in Mérida said they preferred their experience with a Mexican doctor because they had more confidence the doctor cared about their well-being and was knowledgeable, thorough and kind. They also said they didn’t feel hurried and the doctor would often share a personal phone number for follow-ups, questions and concerns.
As Mérida continues to shine as a beacon of opportunity in world culture, business and real estate investment, Mitch and his team have cultivated an intimate knowledge of the modern-day city and a wealth of connections and friends over 30 years. “We’re here to share our know-how, enthusiasm, and love for everything this city has to offer,” he tells us.
Don’t delay discovering this tantalizing slice of the Yucatan peninsula and seizing the array of lifestyle opportunities arising from Mérida’s growth spurt!
