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Yucatán: Leader in Job Creation and Economic Growth in Mexico

- October 1, 2024

Yucatán stands out in job creation and economic growth, with more than 440,900 insured workers and a 64 percent salary increase since 2018.

Yucatán shows significant economic growth, leading in formal job creation at the national level.

Yucatán excels in formal job creation, economic growth above national levels, and the arrival of new investments over the past 6 years, as a result of the actions of the State Government led by Mauricio Vila Dosal.

To mention some of these results, in the last 3 years, the economy has grown 32 percent more than the national average, according to the Quarterly Indicator of State Economic Activity (ITAEE).

This is a sign of the historic moment Yucatán is experiencing thanks to the actions of the Government led by Mauricio Vila, reflected in the improved quality of life for its families. For example, 2023 was the year with the highest formal job creation in its history, with more than 440,900 workers insured by the Mexican Social Security Institute (IMSS) and the highest salary in our history.

2022 was the year with the most income growth, especially for the most vulnerable, and the highest arrival of foreign direct investment. A historic high of registered employers was recorded, increasing 35% more than the previous administration, according to the IMSS.

Additionally, the daily wage of formal workers has seen significant advances under the administration of Mauricio Vila Dosal, with a 64% increase compared to 2018, according to the IMSS.

Formal employment and entrepreneurship opportunities were also brought closer to the most vulnerable sectors of the population. This contributed to a historic reduction in poverty and extreme poverty, with 236,000 people lifted out of poverty.

Yucatán has overcome the impact of the Covid crisis. Vila Dosal’s administration reported that to date, more than 400 private investment projects have arrived, including Amazon, Mercado Libre, Accenture, Walmart, Heineken, and more, representing 168 billion pesos, with these investments primarily located in municipalities within the state.

In June 2024, the construction of the “Cuxtal II” natural gas pipeline by Energía Mayakán began, a project resulting from negotiations with the Federation to ensure the supply of electricity.

It is worth noting that, as a result of Governor Vila Dosal’s negotiations with the Federation to include Yucatán in the Development Poles for Well-being project, the state now has 2 Industrial Well-being Poles to boost investments throughout the territory and the south-southeast, attracting investments in 11 industry branches.

The State Government has laid the foundations for Yucatán’s economic growth for the next 30 years, with these and many other projects driving a new era of growth and development for this state.

Source: La Razon