Economy of Jalisco
Encyclopedia
Since the foundation of the New Kingdom of Galicia
Nueva Galicia
El Nuevo Reino de Galicia or Nueva Galicia was an autonomous kingdom of the Viceroyalty of New Spain. It was named after Galicia in Spain...

, the Mexican
Mexico
The United Mexican States , commonly known as Mexico , is a federal constitutional republic in North America. It is bordered on the north by the United States; on the south and west by the Pacific Ocean; on the southeast by Guatemala, Belize, and the Caribbean Sea; and on the east by the Gulf of...

 state of Jalisco
Jalisco
Jalisco officially Estado Libre y Soberano de Jalisco is one of the 31 states which, with the Federal District, comprise the 32 Federal Entities of Mexico. It is located in Western Mexico and divided in 125 municipalities and its capital city is Guadalajara.It is one of the more important states...

has established itself as a main hub in the national economy
Economy of Mexico
The economy of Mexico is the 13th largest in the world in nominal terms and the 11th by purchasing power parity, according to the World Bank.Since the 1994 crisis, administrations have improved the country's macroeconomic fundamentals...

 and as the business centre of the western portion of the country. Although its economic strength is mainly concentrated in the capital, Guadalajara
Guadalajara
Guadalajara may refer to:In Mexico:*Guadalajara, Jalisco, the capital of the state of Jalisco and second largest city in Mexico**Guadalajara Metropolitan Area*University of Guadalajara, a public university in Guadalajara, Jalisco...

, the rest of the state enjoys a growing prosperity in diverse economic areas. Forest products are obtained along the coast, and mining for silver
Silver
Silver is a metallic chemical element with the chemical symbol Ag and atomic number 47. A soft, white, lustrous transition metal, it has the highest electrical conductivity of any element and the highest thermal conductivity of any metal...

, gold
Gold
Gold is a chemical element with the symbol Au and an atomic number of 79. Gold is a dense, soft, shiny, malleable and ductile metal. Pure gold has a bright yellow color and luster traditionally considered attractive, which it maintains without oxidizing in air or water. Chemically, gold is a...

, mercury
Mercury (element)
Mercury is a chemical element with the symbol Hg and atomic number 80. It is also known as quicksilver or hydrargyrum...

, copper
Copper
Copper is a chemical element with the symbol Cu and atomic number 29. It is a ductile metal with very high thermal and electrical conductivity. Pure copper is soft and malleable; an exposed surface has a reddish-orange tarnish...

, and precious stones is an important activity. The beverage tequila
Tequila
Tequila is a spirit made from the blue agave plant, primarily in the area surrounding the city of Tequila, northwest of Guadalajara, and in the highlands of the western Mexican state of Jalisco....

, distilled from the juice of the agave
Agave
Agave is a genus of monocots. The plants are perennial, but each rosette flowers once and then dies ; they are commonly known as the century plant....

 cactus
Cactus
A cactus is a member of the plant family Cactaceae. Their distinctive appearance is a result of adaptations to conserve water in dry and/or hot environments. In most species, the stem has evolved to become photosynthetic and succulent, while the leaves have evolved into spines...

, is named for the town of that name
Tequila, Jalisco
Santiago de Tequila is a town and municipality located in the state of Jalisco about 60 km from the city of Guadalajara. Tequila is best known as being the birthplace of the drink that bears its name, “tequila,” which is made from the blue agave plant, native to this area. The heart of the...

 in Jalisco and is one of the state’s best-known products. Since the state is home to two UNESCO World Heritage Sites, tourism is an important economic engine. In 2006 20 million local and international tourists visited the state, contributing to an economic revenue
Revenue
In business, revenue is income that a company receives from its normal business activities, usually from the sale of goods and services to customers. In many countries, such as the United Kingdom, revenue is referred to as turnover....

 of 25 billion pesos, 11% higher than in 2005. Guadalajara is served by one of the country’s busiest airports and is one of the state’s major tourist centres. Puerto Vallarta
Puerto Vallarta
Puerto Vallarta is a Mexican balneario resort city situated on the Pacific Ocean's Bahía de Banderas.The 2010 census reported Puerto Vallarta's population as 255,725 making it the sixth-largest city in the state of Jalisco...

 is becoming a major tourist destination among young students. The state ranks number three in terms of nominal GDP behind Nuevo León
Nuevo León
Nuevo León It is located in Northeastern Mexico. It is bordered by the states of Tamaulipas to the north and east, San Luis Potosí to the south, and Coahuila to the west. To the north, Nuevo León has a 15 kilometer stretch of the U.S.-Mexico border adjacent to the U.S...

 State. Since the adoption of the North American Free Trade Agreement
North American Free Trade Agreement
The North American Free Trade Agreement or NAFTA is an agreement signed by the governments of Canada, Mexico, and the United States, creating a trilateral trade bloc in North America. The agreement came into force on January 1, 1994. It superseded the Canada – United States Free Trade Agreement...

 (NAFTA) in 1994 the state has been experiencing a high rate of investment. Jalisco, like many other industrial states in the country, has evolved from a producer of cheap, low-quality goods into an exporter of sophisticated products, from auto brake systems to laptop
Laptop
A laptop, also called a notebook, is a personal computer for mobile use. A laptop integrates most of the typical components of a desktop computer, including a display, a keyboard, a pointing device and speakers into a single unit...

 computers. 86% of the population is urban
Urban area
An urban area is characterized by higher population density and vast human features in comparison to areas surrounding it. Urban areas may be cities, towns or conurbations, but the term is not commonly extended to rural settlements such as villages and hamlets.Urban areas are created and further...

, higher than the national average of 76%.

Economy of Guadalajara

Guadalajara is one of the ten largest economic cities in Latin America
Latin America
Latin America is a region of the Americas where Romance languages  – particularly Spanish and Portuguese, and variably French – are primarily spoken. Latin America has an area of approximately 21,069,500 km² , almost 3.9% of the Earth's surface or 14.1% of its land surface area...

 in terms of GDP, third in Mexico just behind Mexico DF and Monterrey
Monterrey
Monterrey , is the capital city of the northeastern state of Nuevo León in the country of Mexico. The city is anchor to the third-largest metropolitan area in Mexico and is ranked as the ninth-largest city in the nation. Monterrey serves as a commercial center in the north of the country and is the...

. The geographical location of the city and its communications infrastructure make it very favourable for commerce and trade with the rest of the country, and the city attracts investors and commerce worldwide. In 1987, the Expo Guadalajara Convention Centre was created and has since been recognized as the most important centre of its kind the country. Guadalajara has more than 25,000 lodging rooms.

The city is the national leader in investment of shopping malls. Many shopping centres have been built, such as Plaza Galerias, one of the largest shopping centres in Latin America. Plaza del Sol
Plaza del Sol
Plaza del Sol is one of the largest shopping malls in the urban area of Guadalajara, Jalisco, Mexico, located in the municipality of Zapopan. Built at the end of the sixties by the architect Alejandro Zohn, it was the first mall in Latin america...

, designed by Guadalajara architect Alexander Zohn, is one of the busiest places in the city.

Guadalajara is experiencing fast-growing development
Regional development
Regional development is the provision of aid and other assistance to regions which are less economically developed. Regional development may be domestic or international in nature...

. A product of the current development projects, Puerta de Hierro
Puerta de Hierro
Puerta de Hierro is one of the wealthiest districts in Zapopan, Mexico as part of the Metropolitan Area of Guadalajara...

 has become one of the most important districts in Guadalajara. Buildings in Puerta de Hierro include Aura Altitude, a project of 42 floors that has been recently finished. The construction of Andares
Andares
Andares is a shopping mall located in Zapopan, Mexico in the Guadalajara metropolitan area. This outdoor and indoor shopping center is set in Puerta de Hierro...

, a shopping complex, is almost completed. More buildings are on their way in the Puerta de Hierro district, such as Torre G, Torre Zapopan and Pleyades. Providencia Country has many scheduled apartment projects.

In its 2007 survey entitled "Cities of the Future", FDi magazine
FDi magazine
fDi Magazine is an English-language bi-monthly news and foreign direct investment publication owned by The Financial Times Ltd and edited in London. The A4 glossy pages reach a circulation of 14, 768 ABC “senior decision-makers involved in overseas investment” across the world...

 ranked Guadalajara highest among major Mexican cities, and designated Guadalajara as having the second strongest economic potential of any major North American
North American
North American generally refers to an entity, people, group, or attribute of North America, especially of the United States and Canada together.-Culture:*North American English, a collective term used to describe American English and Canadian English...

 city behind Chicago
Chicago
Chicago is the largest city in the US state of Illinois. With nearly 2.7 million residents, it is the most populous city in the Midwestern United States and the third most populous in the US, after New York City and Los Angeles...

. FDI Magazine also ranked the city as the most business-friendly Latin American city in 2007. Due to its economic opportunities and its high human development index
Human Development Index
The Human Development Index is a composite statistic used to rank countries by level of "human development" and separate "very high human development", "high human development", "medium human development", and "low human development" countries...

, Guadalajara has been dubbed the "city of the middle class
Middle class
The middle class is any class of people in the middle of a societal hierarchy. In Weberian socio-economic terms, the middle class is the broad group of people in contemporary society who fall socio-economically between the working class and upper class....

."

Statistics

Jalisco - External trade in millions of dollars
Year Exports Imports
1994 3.01 MMD N/D
1995 3.92 MMD N/D
1996 5.05 MMD N/D
1997 6.51 MMD N/D
1998 7.76 MMD N/D
1999 12.27 MMD N/D
2000 14.1 MMD 16.1 MMD
2001 15.6 MMD 17.2 MMD
2002 16.2 MMD 17.6 MMD
2003 14.3 MMD 14.1 MMD
2004 14.7 MMD 18.7 MMD
2005 15.9 MMD 21.4 MMD
2006 18.5 MMD 24.2 MMD
2007 27.0 MMD 33.9 MMD


External links

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