After 2013’s slowdown, when an estimated 1.2% GDP growth took place, consensus is that the economy will accelerate to 3.4%, as a result of increased external demand following the U.S. recovery, a higher government expending and improved domestic demand.
This year the economic reform agenda will continue moving forward to improve the competitiveness of the Mexican economy. The expected global expansion for 2014-15 will gain traction pulled by the developed world economies.
A significant example of a sector that will boost the economy of the State of Nuevo León, where Monterrey is the capital, is the automotive industry, a leading economic engine contributing to over 20% of total manufacturing industry’s GDP and over 3.5% of Mexico’s overall GDP.
According to the “Competitive Alternatives” report by KPMG, which identifies and compares potential countries and cities for the relocation or establishment of new operations, Monterrey is ranked as one of the top cities possessing the most efficient low-cost structure.
Source : Cushman & Wakefield