Mexico is a beautiful country and I have in the past visited most of it . I also lived there for years as well but now it is very appealing. The inconvenience, crime ,payola ,crooked police ,cartel violence and general feeling of unrest and becoming a victim Mexico is off my list . The real estate is way overpriced and the agents selling are the worst ever .. Bye Mexico , hello Southern Italy !!
Last November I visited the beautiful city of Merida. On November 25th I read where the largest Shipbuilder in the WORLD (Fincantieri - from Italy) had signed a 40 year agreement to begin building the largest
shipyard in Latin America. I immediately headed to the little town of Progresso and was amazed at the numerous possibilities that could happen when the massive work force (estimated at 700 full time workers and possibly 2,500 during peak times) would begin arriving to man the shipyard. Housing, Restaurants, Stores, Groceries, the list is massive and the opportunities look endless. After three days in Progresso I began to contact family and friends about the possibilities of investing in Progresso. I had to be in Puerto Vallarta the following day so I left with great enthusiasm but a few weeks later while still in Puerto Vallarta the former Governor was executed only blocks away from my location. Shortly after that numerous areas in Jalisco began to have numerous murders. I was considering moving to Puerto Vallarta and traveling on the short flight back to Merida if we could find the right investment. The whole wonderful idea of moving to PV and working on a project near Merida was perfect and really appealed to me. However as I read about the Cartels STILL murdering and abusing the people of Jalisco, I can't help but wonder how long it would be until the Cartels would set their sites on Progresso and Merida. I will be the first to admit that in the US we have a very violent society and many murders do occur daily. My tolerance for this lifestyle has reached it's end and I have been looking for a new country to call my home and I absolutely love the culture and the people of Mexico. Unfortunately my plan to sell my current business and move to Mexico has slowed way down. As I consider investing my life's savings I must be realistic about the good and the bad and the thought of what the Cartels will do once the money begins to flow through Progresso is definitely making me reconsider my investment in Mexico.
It used to be attractive but after hearing the news story from their about two drug dealers had killed an entire family that was in a car and was driving down the road and they were innocent but they were just killed for no apparent reason.
Mexico is great and all but after the news reports that I've been hearing I don't like it but at the same time in some places I actually kind of feel sorry for the innocent people.
Mexico is a wonderful place but not a place to invest in property because when you sell, the tax system is referred to capital gains has nothing to do with or without a gain. after the acountants lawyers realtors and notaries get your piece of the pie. you get ripped off for tax. One example, buy for 140,000nand sell in 4 years for 140,000band after paying everyone and some under the table, you get to pay excess of 12000. Not an incentive to buy property for a gringo
Sorry. It just seems to me it is still risky for anybody who has no influence and resources to get the go-ahead from those in government who are in power for anyone to make a big investment worthwhile.
A major corporation, sure. But for a small investor, investment are still at risk from the political environment, not supply/demand economics.
I love Acapulco but the drug related gangs crimes make it hard to see the positive in investing. I would love to buy a property but I just don’t feel safe.
Amazon thinks it is good,But Mexico is busy with Killings so they can't get with the rest of the w are thruout the government.A real shame!!!orld...Between PEMEX and road building this shows what moral problems
The Constellation brewary in Mexacali was a poster child to the fact that AMLO flaunts the law at his fancy. What firm would want to invest $1.6 Billion USD only to have it canceled when it is almost completed with a vote of the people where only 50,000 people of the valley that has a population of close to 1,000,000. Only the people voted that wanted it to be canceled having been misinformed that the brewary would use their water.
As long as AMLO is President it’s not attractive. Too much corruption and his devotion to fossil fuels will keep Mexico from entering the 21st century economically.
Look at the Don Diego Project. Odyssey Marine has filed a $3.5 BILLION LAWSUIT thru NAFTA since the Mexican government Sermant - denied permits for phosphate which Mexico desperately needs for corn and other veggies ! The supreme ruling court ruled 12-0 to allow yet the Sermanant group said no.
AMLO/MORENA Violations of Energy contracts, and disfavor of renewables should discourage any Foreign investment. BAD for Mexico.
Focus on Mexico hydrocarbons, bad, and last century.
I have various investments in Mexico, and corruption makes it difficult to get any project off the ground
It would be an interesting study to see how much foreign investment in Mexico grew while Trump was prez in the U.S. That NAFTA fight and the Border Wall threat saw Mexico open its gates to investments from China and Russia, something Mexico had always fended-off in deference to the U.S.
I'd say the findings would be surprising...