Yellow Papers / Mexico: Why are there a large number of Spanish companies established in this country?

As we have already advanced on occasion, since 2018 we have been operating in Mexico, specifically in Mexico City and with Jorge Olmedillo as director. Today, we have a team focused mainly on the areas of Internationalisation and Recruitment & HeadHunting. 

In the area of Internationalisation, we help foreign companies to open, develop or even establish themselves in this great country.  

On the other hand, in the area of Recruitment & Headhunting, we help both Mexican and foreign companies in the selection and recruitment of professionals. In this regard, we collaborate with a large number of Spanish companies established in Mexico. Why is this? Spain is the second largest investor in Mexico, with a total of 6,570 companies in the country. Today, there are a total of 21,000 Spanish expatriates and 150,000 people with dual nationality residing in different areas of the country.  

For its part, the stability offered by this country has made it the second country in the world, after China, with the greatest presence of Basque companies. Mexico is a priority country for the Basque Country when it comes to doing business, with more than 150 companies with headquarters in the Basque Country. Moreover, according to Spri data, 174 Basque companies currently operate in this country with 232 establishments, of which 113 are productive, more than 70 have commercial offices and 50 are in the service sector. 

The Aztec country is also a key destination for our exports and, of all Spanish exports to Mexico, 14% correspond to the Basque Country. It is the ninth largest recipient country and stands out for its sales of capital goods, railway products, automobiles and components and electrical machinery.  

But do you know why it is such an interesting country and why there are so many Spanish companies established there?  

1. Firstly, it is a country with an extremely strategic position in America, being the gateway to trade and investment between Europe and America. 
2. It also has a total of 13 free trade agreements with 46 countries. 
3. It is the eleventh most populous country in the world with a young and well-qualified human talent. 
4. That there are so many foreign companies relocating to this country is due to its cost competitiveness. 
5. And finally, as we have already mentioned, it is a country with a large amount of foreign direct investment. 

In short, we are talking about a market with great opportunities for business investment thanks to a combination of key factors that, together with the current economic situation, make Mexico a key investment destination.