53rd General Assembly of the World Federation of Exchanges
October 27 - 30 • 2013 • Mexico City


The Country


Mexico is a federal, democratic and representative republic constituted by 31 states and one Federal District.

Mexico City houses the federal government and the nation’s capital city.

A multi-cultural nation with over 115 million inhabitants of which, over 10 million belong to the 56 different ethnic groups.

Mexico is the largest Spanish-speaking country in the world.

An emerging economy, Mexico is quite developed in the industrial context and features significant increases in its sale of goods and services abroad.

Mexico is experiencing four fast, deep, parallel and polarized transitions in the demographic, social, economic and political scenes.

Mexico still faces the challenge of large gaps separating the richer population from those who earn less, as well as the differences between states, regions and rural and urban areas.


Language


Spanish and 67 Indian languages are the official languages here. English is the most commonly used foreign language.


Economy


Mexico’s economic transformation has implied changing the original development model–– based on protecting domestic production mainly by means of substituting imports and strong government presence in basic service provision––to another based on market globalization, reduced government intervention in the economy and the implementation of an export promotion strategy.

Currently, Mexico’s economic systems are more open and integrated towards international trade and economic practice. In this sense, it has signed a sizeable number of trade agreements with countries and regions such as North America, the European Union, Japan and several Latin American countries. In addition, Mexico belongs to the Organization of Economic Cooperation and Development (OECD) since 1994.

This economic transition has stimulated modernization, dynamism and productivity in Mexico. Since 2001, its GDP has grown at an annual average rate of 3%. Because the economic crisis of 2009 the GDP fall by 4%m however since 2012 has been a growth of 3.5%.

Given Mexico’s demographics, however, such growth has not sufficed to generate significant improvements in the country’s economic and social welfare conditions.

A recent World Bank report indicates a continuous decrease in the number of Mexican households living on less than two US dollars a day. Nevertheless, most of the population has not been able to access many of the benefits derived from these economic changes. Indeed, the weak expansion of the labor market has had different effects, such as Mexican worker migration abroad, mainly to the US.

Brazil, Mexico and Argentina, hold positions 9, 12 and 20, respectively, in the world’s top economies (PPP GDP, 2004; The World Bank). Together, they account for a whopping 74 percent of the region's GDP.


GDP Profile


Mexico was one of the Latin American nations most affected by the 2008 recession with its Gross Domestic Product contracting by more than 6%. Moody's (in March 2000) and Fitch IBCA (in January 2002) issued investment-grade ratings for Mexico's sovereign debt. In spite of its unprecedented macroeconomic stability, which has reduced inflation and interest rates to record lows and has increased per capita income, enormous gaps remain between the urban and the rural population, the northern and southern states, and the rich and the poor. Some of the government's challenges include the upgrade of infrastructure, the modernization of the tax system and labor laws, and the reduction of income inequality.


Time Zone


GMT -5, until last Sunday October.

GMT - 6, until first Sunday April.

US: CST.


Climate


The mellow Mexican climate makes it a popular winter and summer destination for tourist sights, city trips.

April and May see the highest temperatures in Mexico City, where lowest temperatures are usually in January and February. The dry season here is November to May, and this is followed by four months of significant rainfall, with average rainfall of 170mm in July.

Click here to get the weather forecast


Visa information


All visitors holding a valid passport or legal travel documents may apply for visitor visas to enter for the purposes of transit, tour, visit relatives, attend international conferences, business, short-term study, short-term employment, and other activities approved by Foreign Affairs requirements. According to the eligibility, there are different ways of visa acquisition.