The Main Hub
The massive metropolis of Mexico City, which was until January 2016 referred to simply as DF or Federal District, is home to the headquarters of the main national and several international banks, as well as insurers, and international financial services companies with Latin American clients. It is also the main hub for the media and Mexican PR and marketing agency scene. The main industries in Mexico City are related to construction, and the production of plastics, furniture, cement, textiles, yarn, iron, and steel, while tourism is a huge and thriving economic generator. Many arts, education and cultural institutes also have their headquarters in the city that is home to some nine million people.
Those who live in the capital city generally command a higher wage than those living in smaller cities, and in rural Mexico. And many are not afraid to part with their cash, in a city known for its big spenders, the luxury and prestige goods industry is thriving. The economy of this city alone is of around the same value as the entire economy of neighbouring country Peru, with a GDP of around USD$411 billion estimated for the greater Mexico City region, or around 22% of Mexico’s entire GDP.
There are certain parts of the city that are best avoided by foreigners, but overall, Mexico City does not have a major crime problem. The city also offers the world’s largest surviving aggregation of buildings dated from 17th to 19th century, and was awarded a coveted prize by Harvard University for its strides in preserving the wonderful architecture.
Public spaces are benefiting from government investment and their renewal by bringing modern uses to dated spaces has led to a veritable cultural renaissance, with an exploding culinary scene, in what is unquestionably one of the most important economic centres in Latin America.