Mexico’s Economic Growth One of Many Reasons Google Does Business in Mexico

by Susie Albin-Najera

Mexico is driving the Americas forward.

In a recent interview with Google Country Director, John Farrell, Mexico Today was able to capture some of the many reasons why they do business in Mexico.
Latin America is Google’s fastest growing region in the world and Mexico outpaces Brazil in Internet usage on their cell phones. Ten percent of Google Mexico search queries come from Mexico’s 85 million mobile subscribers. The opportunity to establish efficient operations in a country with strong economic growth, free trade agreements and a demographic boom are just some of the reasons Google does business in Mexico.
Here are some highlights from the conversation with Farrell:

• Mexico is the 11th economy in the world

• Even at current growth rates, it would still take a long time for places like China and India to meet the current incomes levels of Mexico.

• A lot of other countries are overvalued and that presents great opportunities for companies to come to Mexico to establish cost-efficient new business centers.

• Latin America is Google’s fastest growing region, more than China and more than any other region

• Mexico is a big contributor to Google’s overall growth strategy, with almost 40 million Internet users and growing strong, more than 15-20 percent per year

• Mexico is a young population and this is a demographic boom for all of Latin America

• In the next decade, and as young people enter the work force, Mexico’s going to have a much larger economy

• When you look at Mexico’s competitive advantages, it has the U.S. as a trading partner

• Mexico’s government signs agreements with more than 40 countries worldwide, so setting up operations in Mexico becomes a perfect place to reach out to the world

“We’re in a privileged position in a great industry, in a great market,”said Farrell. “We had to be here, it’s a huge opportunity.”