Investors are becoming increasingly interested in the opportunities that await them due to the economic growth in Sonora, Mexico. In an article last year, The Balance stated, “Mexico is quickly becoming an emerging market heavy-weight.” This is showing to be especially true of the state of Sonora, and as the ties between Arizona and Sonora continue to grow, so will Sonora’s economy. In fact, an article by Marketplace shared the thoughts of Claudia Pavlovich, the governor of Sonora: “Our two states together as a mega-region are a more attractive place for creating new business.”
In the same article by Marketplace, the plan for creating that mega-region was unfolded:
“Officials in Arizona have big dreams about turning the region into a manufacturing hub. Their sales pitch to do that? Lots of cheap land, nearby international ports and a budding partnership with supply chains in Sonora, Mexico. But in today’s economic and political climate, turning this dream into a reality is taking some creative solutions.”
That article was written just over a year ago, and it’s safe to say that the dream described is already materializing as cross-border real estate investment is increasing, tourism numbers are at all-time highs, and a new airport is opening at the Sea of Cortez in October.
Arizona Commerce Authority has affirmed the incredible economic growth in Sonora as well as its ongoing potential. They released an article earlier this year in conjunction with the Arizona-Sonora Business Expo. The article, entitled Inaugural Business Expo is Latest Step in Growing Arizona-Sonora Partnership, stated, “The Arizona-Sonora region features core strengths in high-growth industries, including aerospace, mining, construction, manufacturing, medical devices, renewable energy, and tourism. The region offers an incredible strategic advantage for companies when it comes to trade, investment, and economic development.” Such reports are both exciting and enticing to the investment community.
It is not only investors who are enthralled with the strengthened cross-border relationships and business growth, though. In the aforementioned article by Arizona Commerce Authority, Governor Doug Ducey was quoted: “‘Arizona’s relationship with Mexico – our number one trading partner – can serve as a model for other states to follow. The Arizona-Sonora region presents a competitive platform for growth, a robust supply chain, modern transportation infrastructure, top-ranked higher education institutions, and a talented workforce.’” While both Arizona and Sonora are currently reaping the benefits of this economic growth, there is great potential for that to be expanded to other areas as well.
Are you an investor wanting to be a part of this tremendous growth in Sonora? Santo Tomás can help you! We have incredible real estate investment opportunities in Sonora, about 40 miles south of Rocky Point.