International Spotlight: Mexico

Mariah Hearne

IBS109

International Spotlight: Mexico

Mexico presents a plethora of opportunities and advantages for multinational corporations (MNCs) to have interest. One aspect that can draw attention to the country is their extraordinarily young population, only 6.6% of the population is over the age of 65, with a median age of around 27 years old. This means there is a very large emerging consumer market, as well as, a large pool of potential employees for these companies to utilize due to an increase in the amount of skilled workers that graduate from their schools. Secondarily, Mexico has become a very attractive country to explore business relations with as they have signed more free trade agreements than any other country, more than double China, and quadruple Brazil. Economically and politically, Mexico has become very sound, with modern tax and legal systems in place, and appears to be in a sustainable position moving into the future to further sustain good business.

To some degree, the business world has reached a certain level of environment that propagates respect, accountability, and etiquette which helps to alleviate the stumbling blocks that come with doing business in foreign markets. However, this does not mean that it is not something that must be greatly considered every time a business wishes to reach out to companies and governments to establish business relations. Certain considerations must be made and situations must be evaluated on a country to country basis, for example, things to consider when dealing with the business people of Mexico would include, a more relaxed sense of time, meaning that your meeting scheduled for 2pm, may not start right at 2pm, and that is considered completely acceptable in normal circumstances. One must also understand, that religion, family, and culture are of extreme importance