Historical weakness of the Mexican Peso continues to influence outside
investors’ attitudes towards Mexico as a viable investment.
There is a chronic unemployment problem due to an uneducated and untrained
workforce.
Problems dealing with loan portfolios and macroeconomic recovery without
domestic lending have left the Mexican banking system vulnerable.
NAFTA continues to play a key role in boosting exports and increasing overall
productivity.
The official language is Spanish, though various dialects of Indian coexist.
Opportunities
Automotive Parts
Dolls, Toys, and Games
Computers
Laboratory and Scientific Instruments
Environmental Testing and Laboratory Services
Plastic Production Equipment
Electric Power Equipment
Flow Meters and Associated Equipment
Medical Disposables
Commercial Fishing Equipment
Dental Equipment and Supplies
Machine Tools
Materials Handling Machinery
Multi-Modal Equipment and Services
Printing and graphic Arts Equipment and Supplies
Marketing Tips
Firms new to the Mexican market should take advantage of market research,
matchmaking and counseling services provided by the Commercial Service and
Foreign Agricultural Service in Mexico.
Take note of the geographic and socio-economic diversity in Mexico, and
adjust market strategies accordingly.
Mexico has a wide variety of distribution channels, and small retailers
and family owned businesses dominate the market.
Business Culture
The average workday for a Mexican worker is around ten hours.
Business cards are used extensively.
Mexicans use their professional titles extensively, and show great respect
to authoritative and senior figures.
There is great respect for elders in a group.
It is customary for Mexicans to shake hands upon arrival and departure.
Business meetings in Mexico are often conducted over a meal or a beverage.
Business meetings generally take longer than those do in the U.S.
Mexican social etiquette makes it difficult to say no, so what person really
wants may be confusing.
The Mexican business world encourages participation in social gatherings
in order to succeed.
Punctuality is not observed for social gatherings and appointments.
The Mexican business world is male-oriented.
Dos
Don’ts
Come to meetings with a large supply of business cards
Show respect for elders and seniors
Shake hands upon arrival and departure
Initiate small talk before business meetings
Send a small gift or greeting card to business contacts during Christmas
Be overly aggressive while negotiating. It is considered rude.
Don’t leave an ungenerous amount when tipping restaurants and bellboys.
Government System
Mexico has a Federal republic under a centralized government.
Religions
The two dominant religions in Mexico are Roman Catholic and Protestant