Discover why Mexico has become an attractive destination for digital nomads and foreign companies, offering a conducive environment for growth and investment in the digital market.
Since remote work has become more common, so has the ability to work from anywhere in the world, leading to a boom in digital nomads who are transforming work habits into more flexible ones. This community of remote workers/travelers, which had already existed thanks to the internet, grew significantly after the COVID-19 pandemic. Since then, Mexico has become the 5th top destination worldwide for these nomads.
In 2022, a total of 11,518 Americans received a temporary resident card in Mexico, according to data from the Secretariat of the Interior (Segob). This figure represents an increase compared to 2021, when 9,086 cards were issued, and to 2020, the year of the pandemic, when 5,393 cards were issued—less than the 6,564 authorized in 2019. In other words, from 2020 to 2022, the number was close to doubling.
What do digital nomads like the most?
«The food is delicious»: In Mexico, there is an abundance of fresh and delicious dishes. The variety is impressive, and most foods are not processed. You can enjoy a unique and flavorful gastronomic experience.
«The climate is extraordinary»: The central region is ideal for a moderate temperature. If you like the heat, you can find places near the sea. And for cooler environments, the surroundings of Mexico City can be perfect for you. There are options for all preferences.
«Healthcare is accessible»: Routine medical care, specialist services, and medications are more affordable compared to other countries. Quality healthcare can be received without breaking the bank.
«We feel comfortable working here»: Mexico has a large number of cafés, remote work hubs, and office spaces where nomads can set up their temporary office. Additionally, the internet connection is fast and reliable, and the people are friendly and welcoming, creating a favorable environment for remote work.
In addition to enjoying all of the above, the best part is that digital nomads can collaborate with local businesses to grow their own ventures. These companies already have the cultural and market knowledge.
A digital growth engine and business innovation
In recent years, Mexico has become a territory of great interest for the arrival of new foreign investment. Whether in the automotive, energy, technology, or service sectors, the country’s economic growth is highly benefited, especially in the digital environment. Foreign direct investment in Mexico could range from $35 to $40 billion in 2023, leading to a 1% growth in Gross Domestic Product (GDP).
Focusing on the technology sector, the companies whose announcements will gain strength in 2023 are mainly Google and Microsoft, contributing $1.2 billion and $1.1 billion, respectively. These companies have recognized the potential of the Mexican market and are investing in nationwide advertising. In addition, e-commerce and marketplaces in Mexico will also receive a significant boost in the coming months. Mercado Libre, the leading e-commerce platform in the country, plans to invest approximately $1.475 billion in three strategic states: Jalisco, State of Mexico, and Nuevo León. This marks a historic investment in the country.
Not only have large corporations set their sights on Mexico, but many foreign companies have also established their presence in the country. In fact, 47% of Mexico’s top 500 companies are of foreign origin.
These companies generated sales of 7.2 trillion pesos in 2021, accounting for 35% of the total sales accumulated by the top 500. Walmart, General Motors de México, and Grupo Financiero BBVA are among those with a significant presence and sales in Mexican territory.
«The key to success in business is knowing which way the world is heading and striving to get there ahead of everyone else.»
Bill Gates
We are in the top 3 for social media usage
We cannot overlook the power of social media. Mexicans spend an average of 8 hours per day on the Internet, and 92.6% of Internet users have seen online advertising, with 46.6% making purchasing decisions after seeing advertisements. Mexico ranks third globally in social media usage, providing a great opportunity for your brand to connect with an active and engaged audience.
Mexico has become an attractive destination for digital nomads and foreign companies, thanks to a combination of these factors:
- Excellent quality of life
- Welcoming work environment
- Growth potential in the local market
If your business is seeking new opportunities, Mexico is the perfect place to establish yourself. With a favorable business environment, a growing market, and local experts in digital marketing, you can boost your brand and take full advantage of the advantages our country offers. Mexico has a solid digital infrastructure, a receptive audience, and a culture that values e-commerce and online advertising.
Don’t miss the opportunity to be part of the digital marketing boom in Mexico. At Viral Amplifier, we understand the power of social media and provide the necessary assistance to boost your online presence. Discover how you can create effective content and position your brand using the best available tools and native knowledge of the Mexican and Latin American markets. Visit our website and find out how we can help you transform your business and capitalize on your full potential.