MEXICO and the Creative Industries

Mexico is the top creative economy in Latin America, sixth among developing countries and 18th worldwide. According to ProMéxico, Mexico’s trade agency, creative industries rank fifth among the country’s strategic sectors, behind only the aerospace, agricultural, food and automotive sectors.
There are many companies in Mexico that offer cultural, audiovisual and entertainment services. For instance, in 2006, the television content distribution market earned approximately 167 billion usd and is expected to reach 251 billion in 2013.
The advertising market is significant as well, especially considering that it was valued at 479 billion in 2008, with television recording the largest share. Of Mexico’s creative industries, design is the most important component, accounting for 73%, followed by publishing (9.8%), music (5.8%), arts and crafts (5.2%), visual arts (4.6%), new media (1.5%) and audio-visual products (0.3%).
Other sectors are very promising in terms of development, such as jewellery –the country is the leading silver producer in the world– fashion, leather and shoes, decoration and furniture. One sector experiencing a sweet spot, thanks to tax incentives provided by the Mexican government, is film –close to 70 films have been produced. Furthermore, due to the recent boom in the industry, some 30,000 jobs that are directly linked to film production have been created.
According to the 2012 Statistical Yearbook for Mexican Cinema, 67 Mexican films premiered in national theaters and a total of 112 films were produced, of which 63% received government support. It is important to note that in 2012, 36 Mexican films produced with government support received a total of 66 awards in international film events. With regard to digital industries, the use of information technology is ever expanding and will have an effect on creativity and the competitiveness of the Mexican economy, particularly in trade, cultural and social activities.
Also of special interest is that Mexican laws are being adapted to recognize and stimulate projects pertaining to the creative industries, opening a window of opportunity for investors.
Originally published in Negocios ProMéxico, August 2013
*Professor and researcher in the Political and Social Sciences Faculty, National Autonomous University of Mexico (UNAM).