Oaxaca Growing Economically Despite the PandemicBy Juan Pablo Guzmán Cobián | Wed, 08/04/2021 - 09:01
The COVID-19 pandemic resulted in discouraging scenarios worldwide, severely affecting economies, truncating projects and, undoubtedly, provoking a significant slowdown in Mexico. At the same time, people's spending has also been hit. This discouraging panorama had its exceptions, however. Efforts in Oaxaca, for example, led it to consolidate a sustained growth trend of over 4 percent in 2020.
This was possible due to the good performance of the primary sector, which registered growth of 11.5 percent, while the distribution and consumption of goods increased by 33.6 percent. Likewise, in 1Q21, Oaxaca registered the country’s best performance in terms of the production value of construction companies, presenting an annual variation of 240 percent, meaning an increase of MX$253 million (US$12.6 million) over the same period in 2020.
The state, led by Gov. Alejandro Murat, is positioned as one of the most successful, ahead of Queretaro and the State of Mexico. Historically, Oaxaca had never achieved these heights, ranking no higher than 30th in the different national indexes. Today, the state is No. 1 for growth and in the reduction of extreme and in-work poverty.
The growth trend in which Oaxaca finds itself is a constant that will find a great ally in the culmination of the highway to the coastal region, a debt that was owed not only to the inhabitants of the state but also to the thousands of tourists who arrive in this region to enjoy the beaches. In addition to this, the roadwork on the Isthmus, Acayucan la Ventosa and the Oaxaca-Tuxtepec highway will be completed. These will be triggers for the development of the state, creating an inter-oceanic land route. Oaxaca is also the leading example of the Interoceanic Corridor, strengthening the creation of a commercial corridor and projecting more than half a million jobs over the next 10 years.
Oaxaca's objective is undoubtedly to reverse the reality of poverty. The only way to do this is to create jobs and better living conditions for the people here. The projects in Oaxaca do not cease. The first Gastronomic Center in the country and Latin America is being built, which will create sources of employment, attract more tourism and strengthen the gastronomy and wealth of our state. In Oaxaca, we create, build and grow. The conditions and opportunities are there. For Oaxaca, the time is now.