Mexico

MEXICO

Historical weakness of the Mexican Peso continues to influence outside investors’ attitudes towards Mexico as a viable investment.
There is a chronic unemployment problem due to an uneducated and untrained workforce.
Problems dealing with loan portfolios and macroeconomic recovery without domestic lending have left the Mexican banking system vulnerable.
NAFTA continues to play a key role in boosting exports and increasing overall productivity.
The official language is Spanish, though various dialects of Indian coexist.

Firms new to the Mexican market should take advantage of market research, matchmaking and counseling services provided by the Commercial Service and Foreign Agricultural Service in Mexico.
Take note of the geographic and socio-economic diversity in Mexico, and adjust market strategies accordingly.
Mexico has a wide variety of distribution channels, and small retailers and family owned businesses dominate the market.

The average workday for a Mexican worker is around ten hours.
Business cards are used extensively.
Mexicans use their professional titles extensively, and show great respect to authoritative and senior figures.
There is great respect for elders in a group.
It is customary for Mexicans to shake hands upon arrival and departure.
Business meetings in Mexico are often conducted over a meal or a beverage.
Business meetings generally take longer than those do in the U.S.
Mexican social etiquette makes it difficult to say no, so what person really wants may be confusing.
The Mexican business world encourages participation in social gatherings in order to succeed.
Punctuality is not observed for social gatherings and appointments.
The Mexican business world is male-oriented.

Dos	Don’ts
Come to meetings with a large supply of business cards Show respect for elders and seniors Shake hands upon arrival and departure Initiate small talk before business meetings Send a small gift or greeting card to business contacts during Christmas	Be overly aggressive while negotiating. It is considered rude. Don’t leave an ungenerous amount when tipping restaurants and bellboys.

Mexico has a Federal republic under a centralized government.

The two dominant religions in Mexico are Roman Catholic and Protestant