Surging Private Jet Sales Hint At A Bright Future For Mexico

Surging Private Jet Sales Hint At A Bright Future For Mexico

The Mexican economy is booming, and that includes for those among the super-rich in Tierra Azteca, as some call the US’s neighboring country to the south. Opportunities abound, and there are hints of that in the economic data. For one, Mexicans – or expatriates in Mexico – are buying more private jets. For example, sales of private jets in Mexico have typically been fewer than Brazil’s, but last year that changed – a trend expected to continue as Mexico’s economy continues to grow and Brazil’s stalls.

“It’s a matter of following the money,” according to Brian Foley, a Sparta, New Jersey-based aerospace consultant. “It’s Mexico’s turn for now.” “We’re so motivated by the Mexican market that we decided to open a sales office in the country,” Breno Correa, sales and marketing director of Embraer executive jets in Latin America, told Bloomberg. “We already have one operations maintenance center in Monterrey and we’re looking at installing a second one in or around Mexico City.”

Mexico benefits from its proximity to the US, which has the world’s largest private aviation infrastructure, according to Rolland Vincent, president of Rolland Vincent Associates in Plano, Texas. For Embraer, Mexico is a major opportunity, as the firm expects to expand its 2 percent market share in the country to 16 percent in the coming years, Correa said. “Early on, preowned business jets would go into Mexico after they had served in the U.S.,” Vincent said. “That now has transitioned. It’s almost completely new purchase activity.”

Although the Mexican peso has been declining against the US dollar in recent months (making this a great time for a Mexican vacation with US dollars), the Mexican economy is definitely improving. Private jet sales are just one symptom of many. According to the Wall Street Journal:

“Mexican Finance Minister Luis Videgaray, who has gone to some lengths trying to reassure Mexicans and investors that higher economic growth will eventually occur, said the rate cut will encourage growth and investment by lowering the cost of borrowing.
The decision takes advantage of low inflation, and is consistent with what other central banks are doing, Mr. Videgaray told reporters during a visit to Portugal, noting that the European Central Bank cut rates this week and adopted other measures to stimulate the euro-zone economy.”

Here you can see the performance of the Peso compared to the Dollar:

Mexico Economy 2015

Growth in the fourth quarter of 2014 can be attributed to retail sales, manufacturing, and construction, which represented the largest contributors to Mexican growth in the fourth quarter of last year.

Mexico Economy 2015

“Economic growth was boosted by retail sales, manufacturing and construction. The industrial sector expanded 2.4 percent (2 percent in the third quarter), driven by a 4.6 percent increase in manufacturing (3.3 percent in Q3) and a 5.9 percent surge in construction (3.7 percent in Q3),” according to Trading Economics. What’s more, unemployment has decreased to multi-year lows. December’s official unemployment rate was 3.76%, below the previous month’s 4.53%. Since 2009, the official unemployment rate has decreased from near 6% to under 4%. This might be an admirable number for individuals in the US, who are stuck dealing with an official unemployment number of 5.5%.

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About the Author

By Michael / Administrator

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on Mar 23, 2015

Danish entrepreneur working out of Acapulco, Mexico. CEO @ WB Innovations LTD

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Luis Fernando Domínguez Mora
Luis Fernando Domínguez Mora
01:09 19 Mar 14
I’ve been using Hoteles Acapulco web page for long time. I’ve checked it a few times against other pages and here it always gave me the best deal without any hidden costs that pop out in the last moment. Frankly speaking I haven’t tried to book a car with Hoteles Acapulco, I didn’t need to, but I have booked two different hotels and once a hotel and flight package. The three times I used the web page I was very satisfied. It is easy to follow, I’m not an internet geek and I didn’t have any problems with the booking and the whole booking process was pretty fast. Once I wanted to stay at Acapulco Playa Suites that I had already known but instead I chose a promotion they offered at that time at Acapulco Copacabana Hotel and I paid almost the same. I have already recommended their services to my friends and they were also happy with their vacation.
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Morten Nyboe Bach
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High Quality service, helping the customer instead of themselves, and very good prices as well compared with other sites. High praises from here!!
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John Nyboe Bach
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Great hotel prices and the staff was very helpfull!
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Esta bien el hotel
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Excelente promociones y muy buena servicio.
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I booked a trip with flight and hotel included and it was very user friendly, was even able to modify my trip and add transportation. Nice to have it all under one roof. Email support always answered in a timely manor. Will use MexResorts for our next trip for sure.
Mark Brown
Mark Brown
13:34 13 Sep 18
My first time booking with MexResorts and everything went smooth. Staff was nice and their online system is great. Rates are competitive and I will definitely be using them again in the future.
Owen Bryant
Owen Bryant
19:42 14 Sep 18
Very competitive rates and a solid booking process. Was able to get set up with an all inclusive resort for our family trip to Cancun. Can definitely recommend MexResorts.
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16:56 14 Sep 18
I booked a trip to Mexico with their online system and had no issues and when I had some questions regarding my booking phone support was super helpful!
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04:05 13 Sep 18
I have booked with Mex Resorts a few times now and every time has been a breeze. Thumbs up to the phone support, always nice and helpful if any issue should arise.
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