Mexico

We are delighted to announce that the 2023-2024 IFP location will be Mexico!

Economy
Mexico is one of the most emerging economies within Latin America, with a substantial development through expanding industrialization, an increasing middle class and a productive workforce due to a positive demographic process. The economic growth rate reflects the development of Mexico with an annual GDP growth of 2.3% in 2022 and an expected growth rate of 1.6% in 2023. Mexico continues to promise appealing business opportunities for companies looking to expand into Latin America. The Netherlands being a consistently significant source of Mexico’s foreign direct investment (FDI), a number of Dutch enterprises have already established successful operations within the country.

Business culture
The culture in Mexico is characterized by a blend of traditions where different influences come together. The country’s culture is a mix of indigenous roots, Spanish colonial heritage, and modern practices. This creates a diverse and dynamic environment for doing business. Indigenous Mexican  culture tends strongly towards hierarchy, both in personal interactivity and in the way business is structured. Personal relationships are also important in Mexican business culture. Mexicans spend a lot of time and effort building relationships and getting to know the people they do business with. Networking is an important part of this process.