BUSINESS OPPORTUNITIES THE LATAM MARKET HAS TO OFFER
Mexico stands at a key moment for urban mobility: The country is facing the need to reduce greenhouse gas emissions primarily generated by the use of motor vehicles which account for 23% of the national emissions. In addition the high costs associated with automobile use, such as emissions traffic congestion accidents and sedentary lifestyles mean that the accumulated cost is up to 5% of the GDP in cities. Reducing these costs is a priority due to the environmental impact and disproportionate negative impact on lower income sectors.
Regulatory changes, especially those generated at the local level, have been building mobility as a recognizable and enforceable right in legal frameworks. This progressive recognition is centered around the provision of a high-quality and accessible mobility systems that allow the equitable, sustainable and effective circulation of all people and goods to satisfy their needs and full development.
HIGHLIGHTED MOBILITY PROJECTS IN MEXICO
CABLEBUS LINE 3
The new line will connect with Metro Constituyentes and the fourth section of Chapultepec forest . It is expected to start operating in December 2023, according to Jesús Esteva, Mexico City's Minister of Works. Authorities claim that the project will benefit 36,000 users in its first stage, with a projection to expand up to 70,000. Moreover, it will have the capacity to transport up to 3,000 passengers per hour on its 180 cabins.
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FLOATING ROADWAY IN CHAPULTEPEC
The work will connect Molino del Rey, in the first section of Chapultepec forest, with Avenida de los Compositores in the second section. Overall, the roadway will be 248 meters long and will facilitate the transit of cyclists, joggers and pedestrians. The project will also include the restoration of sidewalks, replacement of lighting fixtures, installation of signs and construction of pedestrian plazas. All with an investment of 286 million pesos and as part of the project "Bosque de Chapultepec: Nature and Culture", which will present 11 new and renovated places in the four sections ofthe forest. The estimated inauguration date is December 2023.
SAN LAZARO CETRAM MOBILITY HUB
The San Lazaro Modal Transfer Center (Cetram) is one of the strategic mobility hubs in the west of Mexico City. Its remodeling consists of expanding the facilities and connections to make transfers more efficient and safe, as well as organizing the transportation systems that coexist within it. Cycling and pedestrian walkways will be added, and the building will have a shopping plaza with stores, restaurants and gardens. Although there is no formal date for its opening, the official website of Mexico City's Ministry of Urban Development and Housing (Seduvi) estimates that the renovation will be completed in 2023.
INDUSTRY TRENDS IN MEXICO
INFRASTRUCTURE
Having one of the highest urbanization rates, it is essential for Latin America to improve the infrastructure.
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PARKING
More than 40% of everything built in Mexico City is parking spaces.
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ROAD SAFETY
Due to the growing incidence of road traffic crashes, Mexico has pledged an overly aggressive fatality reduction target of 50% by 2020.
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SMART MOBILITY
Unlike many other regions in the world, Latin America is still very much reliant on traditional forms of public transportation.
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TRAFFIC MANAGEMENT
Traffic in Latin America is epic. Bogotá, Mexico City, São Paulo, and Rio de Janeiro rank the top 10 most congested cities on the planet.
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URBANIZATION
Latin America is one of the regions with the highest urbanization rates in the world (about 80%). Therefore it is essential to identify which strategies are most effective in reducing the costs of congestion and improving accessibility, as well as how this may substantially improve the general public’s quality of life and productivity.
TIPS & TRICKS FOR DOING BUSINESS IN MEXICO
Let us give you an introduction to Mexico’s business culture:
- Mexicans generally dress conservatively and both men and women will wear suits in a formal business setting. Jeans are generally not appropriate.
- Always start with small talk. Trust plays a very important role in establishing relationships, sometimes even more than professional competence or experience.
- Mexico has a culture that enjoys negotiations. You should too!
Download the full list of tips and enjoy your event.
Sources: INEGI, ITDP Mexico, PAHO.