Mexico’s Global Economy at a Glance
Mexico dominates the global tech scene and as the technology culture mature in the region — the United States is leading the way in the technology sector. The largest media tech giants, venture capitalists and IT entrepreneurs are moving and expanding operations to its country in search of finding stability, growth opportunities and global prosperity.
Top 10 Fintech Companies in Mexico
- Kubo financiero
Mexican employees get paid twice a month — on the 1st and the 15th of the month. They have the same basic rights when it comes to standard hours, severance pay, health care and should be given safe and good working conditions. American companies are looking at profitability, do not hire Mexican workers directly but go through a staffing company and the benefits that are offered to these employees are significantly reduced.
American Companies are Looking at Cost Effectiveness Strategies:
- Strategic cost management
- Process automation
- Materials management techniques
- Labor infrastructure – Cross Training
Today, Mexico is one of the fastest growing economies in Latin America and the leader in the development of science and technology programs. Mexican employees produce the same product as their American counterpart but at lower wages and still deliver the highest product quality, proficiency, and competence and the quantity can be produced at a much lower cost.
Mexican workers work long hours, speak two or more languages and are well educated and are competent, knowledgeable workers.
Companies with the Largest Revenue in Billion Mexican pesos I Cloud, Information and Communication Sector
- IBM – 7.65 Multinational information technology compan Opens 7th office in Mexico – Opened one more office in Mexico as the U.S. technology giant intensifies its efforts to tap into a growing demand for intelligent solutions in the Mexican corporate sector.
- KIO Networks – 6.90 Data center, cloud and managed services, application management, cyber security and data analytics company
- Telmex – 4.95 Mexican telecommunications company headquartered in Mexico City that provides telecommunications products and services in Mexico, Argentina, Chile, Colombia, Brazil, Ecuador, Peru, Venezuela and other countries in Latin America.
- Oracle – 3.01 Multinational computer technology, enterprise software and cloud computing company
- Microsoft – 2.89 Multinational computer technology develops, manufactures, licenses, supports and sells computer software, consumer electronics, personal computers, and related services
Mexico is the world’s fifth-biggest Facebook consumer with over 85 million users and YouTube with 16.90 million recording 16.90 million unique visitors per month. According to Spotify’s “newsroom,” the Swedish company has more than 200 million users around the world. More so, Forbes says that Mexico City is the fifth most populated city in the world with just over 21.5 million inhabitants by mid-2018.
Globalization in its true form have components that make it attractive for businesses and some include education, trade politics, production, financial gains of both countries. One advantage of globalization is that consumers have many wider choices of goods and services and high growth potential in exchange for an equity stake.
Mexico is the Newest Tech Hub for Global Business
Many US technology companies find Latin America the perfect spot to take up shop and Mexico is the go-to place for global reach and technology dominance. Recently Mexico is the topic of political discussion and across the globe with American businesses and investors looking for solutions to financial uncertainty.