With a population of 118 million, Mexico offers a potentially significant market for international retailers. The country not only boasts the second-largest population in Latin America, but the region’s second highest per-capita income. It also has an expanding consumer class that is relishing its new-found spending power. Foreign Affairs recently noted that Mexico’s middle class “now comprises anywhere from 40 million to over 60 million Mexicans,” depending on how it’s measured. “These individuals and their families own cars, houses, and every modern appliance, as well as new cell phones.” The good news is that Mexico’s consumer class is poised to expand for years to come. HSBC predicts that the proportion of Mexican households earning at least $50,000 a year will surge from 11% in 2012 to 21% in 2017.
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