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WHAT HAPPENED IN THE PAST FEW WEEKS?
12% increase in the minimum wage and an operation against Chinese trade in Mexico City. Tariff threats from Donald Trump, recalling that even if there is a treaty in force, the US can impose tariffs under Section 232. The Bank of Mexico raised its inflation forecast for the end of 2024 to 4.7%, and increased its estimate of economic growth for 2024 to 1.8%. The formal review of the T-MEC is scheduled for 2026.
Our region is turbulent. We are the only North American country in Latin America, and that is our great strength. Let us move intelligently with all these factors, for development and stability.
In keeping with the current situation, in this link you can see an interesting interview with Jorge Avalos, President of the Association of Industrial Parks. A recurring theme that is heard in the area of relocation is the need for collaboration between the public and private sectors to take advantage of opportunities and promote growth.
On the paradox of inflation and tariffs, a good paper by Bain and Company.
KEY TRENDS SHAPING 2024
These trends are redefining the business environment in 2024, driving companies to adapt and evolve to stay competitive in an ever-changing market:
● AI: Generative AI, in particular, revolutionizes business processes, enabling task automation, content creation, and predictive analytics. Companies that integrate AI into their operations can improve efficiency and deliver personalized experiences to their customers.
● Sustainability remains a priority. There is a growing trend towards the circular economy, which seeks to reduce, recycle or eliminate waste from the design stage.
● Accelerated Digital Transformation. Digital transformation efforts to optimize operations and improve customer experience. Cybersecurity has become a critical concern. Companies are investing in robust measures to protect their data and ensure the privacy of their customers.
● Attracting and retaining talent in a new hybrid work environment.
FINTECH AS A SERVICE
The word FaaS may seem forbidden, but there are some models and conversations that are close to Fintech as a Service.
This could be a payment aggregator connected to SPEI that offers integrated financial services that facilitate digital transactions for businesses and consumers. The model removes barriers for businesses, especially SMEs, allowing them to access advanced technologies without the need to develop or manage complex infrastructures. In return, FaaS generates recurring revenue.
The schemes are developing and evolving so quickly that we must ask ourselves how obsolete the famous Fintech Law has become.
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