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Quintana Roo, Oaxaca, and San Luis Potosí Lead Mexico's
Economic Growth in 2024

Mexico



In 2024, Quintana Roo, Oaxaca, and San Luis Potosí emerged as Mexico’s top economic performers, significantly surpassing the national growth rate of 3.2%, according to data from the National Institute of Statistics and Geography (INEGI).

Top Performers

Quintana Roo led with a remarkable 10.2% growth, driven by a surge in tourism and substantial investments in infrastructure, including the Maya Train and the Tulum airport. Oaxaca followed with an 8.3% increase, fueled by tourism and local industry improvements. San Luis Potosí ranked third with a 7.9% growth, benefiting from nearshoring investments and a thriving manufacturing sector.

Top Five Growth States

The other top states included Aguascalientes and Campeche, both at 5.2% growth.

Additional states surpassing the national growth average were:
•⁠ ⁠Tabasco: 5.1%
•⁠ ⁠Sonora: 4.9%
•⁠ ⁠Yucatán: 4.8%
•⁠ ⁠Colima: 4.4%
•⁠ ⁠Hidalgo: 4%
•⁠ ⁠Durango: 3.9%
•⁠ ⁠Mexico City: 3.8%
•⁠ ⁠Querétaro: 3.5%
•⁠ ⁠Michoacán: 3.5%

2024 has showcased Quintana Roo, Oaxaca, and San Luis Potosí as Mexico's standout economic performers, each significantly exceeding the national growth rate. Their successes, driven by tourism, infrastructure investments, and manufacturing, highlight the potential for regional growth across the country. As these states continue to capitalize on their strengths, they set a positive precedent for future economic development in Mexico.

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Sally Sudol

MANAGING DIRECTOR RIVIERA MAYA

The Agency is a full-service, luxury real estate brokerage and lifestyle company representing clients worldwide in a broad spectrum of classes, including residential, new development, resort real estate, residential leasing and luxury vacation rentals.

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