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While U.S. Struggles, Mexico City is Awash in Luxury

December 27th, 2012 at 10:38:52 PM permalink

Member since: Oct 24, 2012
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By Ruth Samuelson Published April 13,2011

Quote: Fox News
These days, Mexico City has a seemingly insatiable hunger for the upscale. While the United States cautiously soothes its nerves after the financial crisis, the Federal District is awash in immense construction projects, luxury brands and product-shilling American celebrities. Madonna opened her first gym, Hard Candy Fitness, here in late November, and Katy Perry, Olivia Wilde and Paris Hilton have all swung by for promotional events in recent months.

“With the U.S. market set to be challenging for luxury brands in the next few years, there is opportunity for retailers in South America with its emerging markets such as Brazil and now, Mexico,” said Kate Ormrod, an associate analyst at Verdict, an arm of business research firm The Datamonitor Group.

The number of wealthy individuals in Mexico – defined by Verdict as those with financial assets over $150,000 – is projected to grow by 12.9 percent annually to 531,000 individuals in 2014. In comparison, the number of wealthy individuals in the United States – those with financial assets of over $300,000 – is set to grow by 10 percent in the same period, said Ormrod, by e-mail.

The changing image of Mexico. If you have travelled to a Mexican city that was not a coastal or border city, please post your impressions.

December 28th, 2012 at 1:59:57 AM permalink
Fleastiff Member since: Oct 27, 2012 Threads: 62 Posts: 7831	Quote: Pacomartin If you have traveled to a Mexican city that was not a coastal or border city, please post your impressions. If you have traveled to a Mexican city that was not directly involved in the drug trade, please post your impressions of how these narcotics trafficking dollars are ending up in such non-frontline cities.

December 28th, 2012 at 8:04:13 AM permalink
Wizard Administrator Member since: Oct 23, 2012 Threads: 239 Posts: 6095	Quote: Pacomartin The changing image of Mexico. If you have travelled to a Mexican city that was not a coastal or border city, please post your impressions. I wrote about this already, but I was in Mexico City a year ago and was very impressed with it. As a basis of comparison, I found it nicer than Buenos Aires. Knowledge is Good -- Emil Faber

December 28th, 2012 at 8:19:03 AM permalink

Pacomartin

Member since: Oct 24, 2012
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Quote: Fleastiff
If you have traveled to a Mexican city that was not directly involved in the drug trade, please post your impressions of how these narcotics trafficking dollars are ending up in such non-frontline cities.

While the drug trade is significant, the wholesale earnings from the drug trade in Mexico certainly don't add up to more than 4% of the GDP, and probably a whole lot less. You can overstate the issue, Mexico is not run by the cartels.

Certainly if the drug trade were cut in half, the Mexican economy would have a huge benefit. Tourism, and business dollars would be much more likely to be invested in the country. The huge personal protection business in Mexico would be channeled into more productive areas.

December 28th, 2012 at 8:23:13 AM permalink

Nareed

Member since: Oct 24, 2012
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Quote: Wizard
I wrote about this already, but I was in Mexico City a year ago and was very impressed with it. As a basis of comparison, I found it nicer than Buenos Aires.

Yes, well, Reforma is impressive. and aprts of Downtown are nice. But if you ever make it down here again, I'll take you on a tour of the awful aprts of town like the industrial area in Vallejo or El Molinito.

But for a really all-over ugly city try Chilpancingo in Guerrero state.

Donald Trump is a one-term LOSER

December 28th, 2012 at 9:18:10 AM permalink
Pacomartin Member since: Oct 24, 2012 Threads: 1068 Posts: 12569	Quote: Nareed But for a really all-over ugly city try Chilpancingo in Guerrero state. It seems like a lot of the venders in Tijuana are from the Chilpancingo region.

December 28th, 2012 at 4:32:48 PM permalink

Dfens

Member since: Nov 2, 2012
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I've spent a good amount of time in Mexico as part of my job. I did travel to the outskirts of the port cities but rarely far from it.

From what i saw the wealth is concentrated to a few individuals and companies. The income inequality is very apparent (according to the Organization of Economic Cooperation and Development the US is fourth in the world and Mexico is second). You see the wealthy living in the port cities in huge homes with servants and guards. Then there's a small contingent of middle class and then a crap ton of poor.

The smaller cities that are not on the coast or in ports are typically dominated by the poor.

I have a good impression of the major Mexican port cities. In fact I preferred getting an assignment to Mexico than to some major US cities.

March 20th, 2013 at 10:19:46 AM permalink

Pacomartin

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The American news is awash with this news story that says that Mexico will drop out of the top 10 tourist destinations in the world. The announcement was made by Mexico's top tourism official.

This article seems very misleading. With 5 of the top 10 nations being in Europe, where tourists can visit another country by riding a short train trip without the need to change currency, go through border control or even procure a passport, that kind of tourism is a different level and should be comparable to quick vacations from the Northeast USA to Florida or the Gulf Coast.

The idea that picturesque Austria which is surrounded by major metropolitan areas from multiple countries should replace Mexico with slightly higher tourist numbers should be a 'shrug your shoulders' non-issue. Instead it is another opportunity to run stories about drug cartels in Mexico and terrify more people. Notice that none of the articles point out which country will displace Mexico on the list.