Mexican Business News Update on 04 May 2023

Stay up to date on the latest Mexican business news with Mexicanist. From booming car sales to developments in the hotel industry, read on for all the latest updates!

Mexican Business News Update on 04 May 2023
Airports on the Mexican Stock Exchange capture more business travelers.

Hola amigos! It's time for some spicy Mexican business news! From soaring car sales to the growth of the hotel industry, we've got all the updates you need to know. So grab your tacos and let's dive in!

First up, let's talk about the automotive industry. According to Inegi, car sales increased by a whopping 16.8% in April, the highest figure since 2020! The first four months of 2023 saw a total of 412,736 units sold. Looks like Mexicans are revving up their engines and hitting the road!

Moving on to the stock market, it seems that airports are taking off due to 'nearshoring'. OMA, GAP, and Asur are capturing more business travelers, and analysts expect this trend to continue for the rest of the year. Unfortunately, the drop in crude oil has reduced revenues for Orbia and Alfa. Bummer!

In other news, the IFT has eliminated regulatory burdens for radio and TV concessionaires, saving the sector an estimated 79 million pesos per year. Way to go, IFT!

Posadas, the hotel company, announced a 19% revenue growth in the first quarter of 2023 and revealed their development plan for this year. They plan to operate 22 new hotels with 3,711 rooms. Looks like the hospitality industry is thriving in Mexico!

The construction and housing cluster in Puebla will be promoted this year. Gustavo Vargas, the president of CMIC, said that digitalization, training, and professionalization will be key to the growth of the industry. Time to build some beautiful new homes!

Georg Fischer, a leading supplier to the tool and mold manufacturing industry, is investing 9 million dollars in a new plant in Apodaca, Nuevo Leon. This will surely create job opportunities for locals and boost the economy.

On the aviation front, an Aeromexico flight from Puerto Escondido to Mexico City was diverted to Oaxaca due to technical revision in the cabin. Don't worry though, the airline ruled out an emergency. Safety first, amigos!

Customs agents from 85 countries will meet in Cancun. Customs brokers of the Americas Alliance represent a market of 800 million dollars a year. This is a great opportunity for the customs industry to connect and grow.

Water treatment is proving to be a lucrative industry in Mexico, as Ideal's revenues grew by 15.1% between January and March 2023. The company recorded an operating cash flow of 3 thousand 767.5 million pesos, 12.2% higher than the same period last year. It's always great to see companies contributing positively to the environment and their bottom line!

If you're looking for a new job, Viva Aerobus is hiring a purser in Mexico City in May 2023. Check out their salary and requirements and see if it's a good fit for you!

Lastly, analysts predict a clearer economic slowdown in the second quarter due to high inflation, the effect of the rise in interest rates, and the weakness of economic activity in the United States. Let's hope the Mexican economy weathers the storm!

That's it for today's Mexican business news update. Stay tuned for more exciting updates!