Puerto Vallarta and the Economy
We do keep an eye on the economy here in Puerto Vallarta. Mexican companies, the national debt and market have all suffered, more than any other country, since the November 2016 election in the United States.
Trade between Mexico and the USA totaled $480 billion in 2016 but took a harsh blow in the past few months. Funds that have been transferred from all the Mexican workers north of the border has dwindled. It has been a long time that Mexico has felt such animosity from the north, not since then President James Polk declared war on Mexico, knowing how week the country was following a long and financially grueling conflict with Spain for independence. Polk won that war and a huge chunk of Mexico became US territory, including what are today California, Texas, New Mexico, Nevada, Arizona and parts of Wyoming and Colorado. In the current political climate, the latest US government wants to build a wall across that border, shutting the two countries off from one another even more. Mexicans have been incensed by this hostility and are not unaware of how it has affected their financial systems. In 2015, nearly one third of money sent to Mexico by Mexicans working in the US was from the state of California; over 14% came from Texas. To begin to argue land rights and immigration law is futile, but it is an observation that points to a major contribution of Mexican economy and how this is compounding the problem.
We in Puerto Vallarta have not allowed this downturn to have much of an impact and Mexicans are pulling themselves up by their bootstraps. Before the new administration in Washington DC began its hysterics, threats and “alternative facts,” Mexican businesses had advanced at a more rapid pace than any rising market since 1995.
There is a bright light on the horizon for Mexico, despite recent bad news. Markets are expecting a reversal, which it bases on the measure of future price swings. There is reason to be optimistic, very optimistic. In what traders refer to as a “golden cross,” in economic recovery; there is every indication of the peso beginning to rise. Much of these expectations have to do with the 45th president of the United States inability to find agreement in regards to delivering on his intimidating threats. Without Congressional support, these ideas of a raving maniac fall flat and so far, Nafta stays in place and no bricks have been delivered to build his so-called wall.
Bloomberg predicts Mexico will be a leader in 2019 and here in Puerto Vallarta, we are more inclined to listen to wisdom with facts and logic.
Que es cómo es.
Thanks to our guest blogger Adam Garcia for this article! (opinions expressed are his own)
Do You Want To Live The Ultimate Villa Experience? Thinking Of Renting a Puerto Vallarta Luxury Vacation Villa or Condo? Let Our Beston Properties Team Find You The Perfect Luxury Vacation Villa Rental in Puerto Vallarta or Riviera Nayarit, Mexico. Try Our ‘Perfect Villa Finder’ Tool Here.
For more information about Puerto Vallarta, Mexico or a Villa for rent contact Beston Properties offers the finest Luxury Villa Vacation Rental Accommodations in the Puerto Vallarta and Punta Mita area. Our private rental homes and Condos offer a full range of services from a full staff including chef and a concierge to organize any tours, spa services in the home or Car Rental. We have offices located in Puerto Vallarta and have all the local information from Vallarta weather and maps. All of their agents are personally familiar with each of the accommodations, amenities and staff to help you find the best rental property in Puerto Vallarta. Our concierge services will be happy to give you information on the best restaurants for dining out in Puerto Vallarta we can make reservations and give you directions. We have all the most current information to guide you for your holiday in Puerto Vallarta from our daily weather report to maps and directions.. WE can arrange activities with any tour company including Vallarta Adventures, one of the most popular companies in Banderas Bay. We represent the best quality of homes for rent by owners who care about your comfort and hope you return for many years of unforgettable Mexican holidays. For more information check out our luxury accommodations.
