Who is the heavy hitter in Latin America? This is a questions many have asked and continue to ask, however the answer keeps changing or rather evolving, and tomorrow’s answer may surprise you.
Years ago Mexico was the ‘big fish in the pond’, then Argentina, and before that it was Brazil. But, are things changing? Are things returning to the past?
Take for example, these few but very interesting facts about the US neighbour to the South:
The World Bank ranks Brazil 126th in the world, for ease of doing business, while Mexico comes in at 53rd. Brazil’ economy has slowed from 8% in 2010 to a mere 2.7% this past year, while Mexico is expected to grow by 4%.
Mexico’s auto industry generated more than $23B USD, that is more than its oil or tourism trade.
So what does this all mean? It means an increase of liquid cash in the hands of Mexicans, which means property prices will continue to rise.
In 2011 Mexico saw a rise of 4.5% in property prices and that is set to continue in 2012 as well as in the foreseeable future. Add to that the upcoming elections, where both candidates’ views closely mirror those of the US, while Brazil sees itself as an alternative to the North American super power.
Mexico’s growth is crucial for the US. The more Mexico rises, the less America will need to worry about illegal immigration; studies show migration patterns have already been reversed. Increased numbers of Mexicans are returning to their homeland, then those immigrating to the North, and they are returning with cash in the pockets.
Brazil remains a bigger economy, and will likely stay that way for a while.
However, don’t let perceptions of Mexico fool you. Despite all the violence, and being overshadowed by its flashier neighbors, it is quietly on the rise. The big Mexican property portal metroscubicos.com, is set to reap this quiet and sustainable world wind.