MEXICO

Robin, Aman, Stephen

AGENDA

1. PEST
2. Hofstede's Analysis
3. Cultural Differences
4. Business Etiquette
5. Fun Facts
6. Q&A

PEST

1. Part of NAFTA
2. President is Head of State and Head of Government
3. Dominated by 3 parties; PAN, PRD, PRI

PEST

1. 14th largest economy in the World (nominal)
   1. Total GDP: $1.261 Trillion USD
   2. GDP per Capita: $10,307.28 USD
2. Official Currency is Mexican Peso
   • 1 CAD = 11.9958 MXN (3/21)
3. Largest export partner (78% of all exports) is US
4. Some top industries include: electronics, food, beverages, mining

PEST

1. Population of Mexico: 122m (3.5x Canada)
2. Average Age: 26.7
   1. Male: 25.6, Female: 27.7
   2. Age distribution:
      • 0-14   : 29%
      • 15-64 : 64.6%
      • 65+    : 6.4%
3. Very family oriented;  "Weekends are reserved for families"
4. Soccer or Football is the most popular sport

PEST

1. University of Mexico est. 1910
   • Provides world class education in STEM
2. Best paved-roadway network in Latin America
3. 233 Airports
   • Mexico Int'l Airport, largest in Latin America
4. Government pushing for High-Speed rail 

Hofstede Analysis

Cultural Differences

1. Over 80% of the population are Catholic
2. Business relationships usually take precedence over business competence
   • Vital to have a vouch or introduction
3. Did we say Family Oriented already? Must be important :) 

Business Etiquette I

1. Should wear conservative clothing that is not too revealing
2. No eye contact = sign of respect
3. Punctuality is not stringent
4. Lunch meetings last 3-4 hours, little time spent on actual business, used to establish personal relationships

Business Etiquette II

1. People are very warm and friendly, there may be a lot of physical contact
2. Personal space may be a sign of unfriendliness
3. Dislike direct confrontations, when disagreeing they tend to say "Maybe", "Let me get back to you"

Fun Facts

1. Official name for Mexico is "United Mexican States"
2. Largest source of immigration to US is Mexico
3. Chihuahua is a Mexican state! So is Tequila!
4. Education is scarce; average Mexican only finishes grade 6