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Business and Economy

Mexico slumps to ‘Great Depression’ economic lows

Mexico’s economy could contract by almost 13% this year, the central bank warned on Wednesday, after GDP data showed the pandemic lockdown had thrown the...
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Ravaged by coronavirus, Mexico’s GDP falls record 17.3% in second quarter

Mexico’s economy contracted by double digits in the second quarter as the coronavirus pandemic ravaged Latin America’s second-largest economy and shut factories, kept shoppers and...
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Mexican businesses struggling in pandemic with little help

Mexican business owners are trying to cling to life — often unsuccessfully — in an economic recession profoundly deepened by the COVID-19 pandemic and with...
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Canadian business becomes first to invest in Mexico under new USMCA trade deal

As part of the entry into force of the trade agreement between Mexico, Canada and the United States, USMCA (T-MEC in Mexico), the off-road vehicle...
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Aeromexico becomes latest LatAm airline to file for bankruptcy

Mexican airline Aeromexico said on Tuesday it had begun restructuring under Chapter 11 proceedings, the latest Latin American airline to run into serious trouble as...
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Mexican economy shrinks record 17.3% in April

Mexico’s economy posted a record contraction in April, official data showed on Friday, as the effects of the coronavirus lockdown devastated economic activity, particularly in...
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Beach vendors in Puerto Vallarta are happy to be back, even if business is slow

Raymundo, a handicrafts vendor and renter of tables, chairs and umbrellas on the beach in Puerto Vallarta, appreciates being away from home again, doing the...
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Shopping malls, gyms, sports clubs, churches, and hotels reopen in Jalisco with restrictions

Starting this Monday, June 15, the shopping malls, outdoor spaces, gyms and sports clubs that were closed due to COVID19 may restart operations in Jalsico....
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Mexico desperate to reopen 11 million-job tourism industry

An irony of the coronavirus pandemic is that the idyllic beach vacation in Mexico in the brochures really does exist now: The white sand beaches...
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Mexico sheds 344,500 formal jobs in May to push coronavirus losses above 1 million

Mexico’s economy shed 344,526 formal jobs in May because of the novel coronavirus pandemic, pushing the number of lost jobs in the last three months...
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Mexican workers in US are sending record money home despite coronavirus-related economic shutdowns

One might think Mexican immigrants in the U.S. would be sending less money home to their families as a result of the coronavirus. The 11.2...
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International tourism in Mexico fell 78.5% in April; tourism will not recover until 2023

Mexico received 78.5% fewer international tourists in April than in the same month of 2019, going from 3.6 million to slightly less than 780,000 travelers...
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