August Sees Largest Drop in International Tourism at Mexico’s Top Tourist Destinations, Including Puerto Vallarta Puerto Vallarta, Mexico - August has marked a concerning turning point for Mexico’s major tourist destinations, showing the largest decline in international passenger traffic this year. According to the latest report from the Sustainable Tourism Advanced Research Center (STARC), international passenger traffic at key airports, including Cancun, Puerto Vallarta, and Los Cabos, has contracted by…
The Mexican Peso Weakens and it’s a Bad Time to Invest in Mexico According to Analysts The economic outlook for Mexico in 2024 has taken another hit as private sector analysts have once again downgraded their growth expectations. According to a recent survey conducted by the Bank of Mexico (Banxico), specialists now predict that the nation's Gross Domestic Product (GDP) will grow by just 1.6 percent in 2024, marking the fifth…
End of the Superpeso Continues in September as the Mexican Peso Continues Losing Streak Puerto Vallarta, Mexico - The Mexican peso continues its decline on Monday, driven by growing concerns over a controversial judicial reform that could soon be approved following the commencement of congressional sessions on Sunday. The peso was trading at 19.7399 per dollar, reflecting a 0.15% decrease from Friday's Reuters reference price, marking the currency’s continued…
Superpeso: How Peso Depreciation is Raising the Cost of Food, Technology, and Transportation in Mexico Puerto Vallarta, Mexico - In a recent turn of events, the Mexican peso has faced significant depreciation against the U.S. dollar, as the price of the dollar soared to over 21 pesos at Mexican banks. The interbank exchange rate, which is primarily used for closing contracts, exports, and debt transactions, also saw the dollar climb…
Mexican Peso Faces Continued Decline as Key Events Loom: Four Factors to Watch The Mexican peso has been on a downward trend for the past three months, and experts predict that this decline could continue until the end of the year. Several factors are contributing to the depreciation of the currency, and the coming months will be critical in determining whether the peso can recover or continue to…
Dollar Crushes the Peso Surpasses 20 Peso Barrier Puerto Vallarta, Mexico - The exchange rate of the Mexican peso against the US dollar has surged past the 20 peso mark, reaching 20.11 pesos per dollar on Thursday, representing a depreciation of 0.87% compared to Wednesday's closing value. At the start of the trading day, the dollar was quoted at 20.14 pesos, its highest…
The Mexican Peso Closes Another Day of Loses Today Puerto Vallarta, Mexico - The Mexican peso closed trading on Tuesday with notable losses, reflecting increased investor nervousness surrounding the ongoing discussion of a controversial judicial reform in the Congress of the Union and anticipation of critical employment figures from the United States. The local currency depreciated to 19.8711 pesos per dollar by the close…Peso Suffers Relapse in Afternoon With Weakest Peso in Two Years Puerto Vallarta, Mexico - The Mexican peso has been trading above 20 units against the U.S. dollar for the second consecutive day, as both internal and external factors drive market fluctuations. On Friday, the peso reached 20.09 pesos per dollar on the wholesale market, following Thursday’s closing rate of 19.93 pesos per dollar. The depreciation…
Air Canada and Viva Aerobus Sign New Interline Agreement That Benefits Travel to Puerto Vallarta from Canada Air Canada and Viva Aerobus have announced an interline agreement aimed at enhancing the connectivity between Canada and Mexico, providing Canadian travelers greater access to Viva Aerobus's extensive domestic network of 59 destinations across Mexico. This partnership seeks to streamline travel for passengers by offering connections on a single ticket, improving both convenience and efficiency…
Tactical Group reinforces security in Vallarta Puerto Vallarta, Mexico — In an effort to enhance safety and deter criminal activity, the Tactical Operations Group (GOT) has increased its presence in Puerto Vallarta. This is part of a broader strategy initiated by the Citizen Security Commission aimed at curbing crime in key areas of the city through heightened surveillance and increased police…Business and economy news on PVDN covers stories and events related to finance, industry, and commerce in Puerto Vallarta and nationally. This can include coverage of stock markets, economic indicators, and company earnings reports, as well as updates on mergers and acquisitions, new business ventures, and industry trends. Business and economy news may also cover issues related to labor, such as employment rates and wage growth, as well as government policies and regulations that impact the business world. This type of news is important because it provides insight into the financial health of companies and industries, as well as how the economy as a whole is performing. It can also help investors and business owners make informed decisions about their investments and operations, as well as provide valuable information for individuals looking to manage their personal finances.
Mexico is a country with a large and diversified economy, and is one of the largest economies in Latin America. Its economy is characterized by a mix of traditional industries such as agriculture, mining, and manufacturing, as well as modern service sectors such as finance, telecommunications, and technology.
In recent years, Mexico has implemented significant economic reforms aimed at increasing competitiveness and attracting foreign investment. These reforms have included privatization of state-owned companies, liberalization of trade and investment policies, and improvements in education and infrastructure. As a result, Mexico has become an increasingly attractive destination for foreign investors, particularly in sectors such as automotive manufacturing and aerospace.
Despite these reforms, Mexico’s economy faces several challenges, including income inequality, corruption, and the impact of the COVID-19 pandemic. Mexico has one of the highest levels of income inequality in the world, with a significant portion of the population living in poverty. Corruption remains a major challenge in the country, with some estimates suggesting that it may cost the Mexican economy as much as 10% of its GDP.
The COVID-19 pandemic has also had a significant impact on Mexico’s economy, with the country experiencing a sharp contraction in GDP in 2020. However, the government has implemented various measures to support the economy, including fiscal stimulus packages and monetary policy measures aimed at increasing liquidity and supporting businesses.
Mexico’s economy is closely linked to that of the United States, with the two countries sharing a close economic relationship due to their proximity and strong trade ties. The United States is Mexico’s largest trading partner, and a significant portion of Mexico’s economy is dependent on exports to the United States. The recent renegotiation of the North American Free Trade Agreement (NAFTA), now known as the United States-Mexico-Canada Agreement (USMCA), has further strengthened this economic relationship and provided greater stability for investors.
In conclusion, Mexico’s economy is characterized by a mix of traditional and modern industries, and has undergone significant reforms aimed at increasing competitiveness and attracting foreign investment. While the country faces several challenges, including income inequality and corruption, it has a strong economic relationship with the United States and has taken significant measures to support the economy in the face of the COVID-19 pandemic. With continued efforts to address these challenges and build on its economic strengths, Mexico has the potential to continue to grow and develop in the years to come.
