What about Mazatlán’s economy?

The tourism and fishing are the main industries in Mazatlán. The city is home to the main beach resorts and has the second largest fishing fleet in Mexico. Most of the seafood processed in the city is shrimp and tuna.The last years the pacific pearl has shown and exponential growth, even with the pandemic which wreaked havoc worldwide, and this growth and development place this paradise in the “top five most competitive cities of México”.  According with the Mexican Institute for the Competitivity, this city is in the fourth position in the category of 500 thousand to 1 million of inhabitants, over Cancún, but only under Saltillo, Culiacán and Durango.  

According to the same Mexican Institute for the Competitivity data, Mazatlán climbed and climbed and hotel occupancy was the jewel in the crown, from place number 7 that it was in 2020, it climbed 6, what does that mean? That placed it in first place nationwide in this sub-index.

In August 2022, Mazatlán international sales were US$25.7M and a total of US$10.6M in international purchases. For this month, Mazatlán’s net trade balance was US$15.1M.

The main international sale in August 2022 was Frozen Fish, Except Fillets and Other Fish Meat of Item 03.04 (US$11.3M). The main international sales destinations were Spain (US$10.5M), the United States (US$4.43M) and Vietnam (US$784k).

The port remained in the second position of Stable Economy, likewise, it remained in Exploitation of International Relations. The change is noticeable. In foreign direct investment, Mazatlán remained in position number 47 during 2020, however, in 2021 it climbed 21 more places, managing to position itself in 26th place; it maintained its hotel offer and grew as a port city. As of the third quarter of 2022, the state of Sinaloa registered a foreign direct investment of 721.8 million dollars.

The real estate sector is the one that leads the way in Mazatlán, followed by the hotel and industrial sector. The development in Mazatlán is strong, only the Mazatlán Secretary of Economic Development, Tourism and Fisheries, reported that there are approximately 12 authorized investment projects, including condominium towers, hotel chains and industry.

Its economy, amazing natural environment, touristic attractive and the hospitality of its people, make Mazatlán one of the best places either to live or to invest.

Resources: Recuperado el 19 de diciembre 2022 de https://datamexico.org/es/profile/geo/mazatlan#economy.

Written by LLMI. Jessica Hernández

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