Today’s article marks the beginning of a new week, and also a new theme. Technology and services find themselves the focus of the content we have to share with you over the next few days, and we will be starting with Mexico’s technology sector, specifically, how opportunities are managing to keep on appearing and evolving, and why this is making investment in the Latin American nation so enticing. Following the pandemic, the economic impact witnessed in communities of all sizes across the globe has led to scepticism surrounding the potential for quick recovery in different markets due to decreased consumer demand and inflation across various industries. However, technology is always updating, and with a market as diverse as it has, there is room to move forward and innovate in such a way that demand remains exponential to development. The story is the same in Mexico, and to best understand it we will look at the numbers for context, followed by some examples of investment potential.
One figure that really puts into perspective the scale of the technology industry in Mexico is that overall, the nation is the third largest IT exporter not in the region, but in fact the world as a whole. This immediately demonstrates to you and any other potential investor that Mexico is a global player in the market, and with such exports amounting to over US$21 billion, the scope for returns is very promising. It is possible you may wonder why investment in such an already established market is so intriguing, and really, it comes back to our previous mention of innovation. This key word comes to symbolise the dynamism of the industry, and therefore, the constantly developing investment opportunities. Linking this with the statistic that 72% of people over 6 in Mexico have an established internet connection, specifically 84.1 million people, means that the diversity of requirements and needs of individuals is only set to increase, furthering the need for foreign investment in new start-ups and subsectors to facilitate growth.
Speaking of start-ups, we have a couple to share with you as examples of innovative technological development taking place in Mexico. The first of which is called Jüsto, a platform where the user can order groceries and other food products for same day delivery. Platforms of this form are already in the United States and Europe, and so you will already know that each one has its own unique operating system and tailor-made service for its customers, or perhaps it has its own niche, whether it is the delivery service, or the places products are sourced from. Therefore, Jüsto presents itself as a contender in the Mexican market space as especially during the COVID-19 pandemic, online shopping boomed, and by offering food product delivery on the same day as it is ordered demonstrates limitless growth potential.
An example from a different technology subsector is Conekta, where businesses and customers can connect to transfer money in different ways, be it through cards or digital wallets. Despite the different service, the need and demand is the same following the pandemic, as banking is further digitalised and in-person meetings with clients in a business setting is reduced, secure flows of capital are becoming increasingly important. The company has a focus on clients and also the bigger national picture, presenting an interesting angle for investors as wider priorities insinuate the potential for growth on local, regional and international levels in a not-so-distant future, so perhaps Mexican technology start-ups really are worth considering for investment this year.
So, if you are interested in finding out more, get in touch with us today! At Creimerman, we are a team of global citizens, working with each client and providing a tailor-made service in order to help make their cross-border ventures a success, and we would love you to be the next.