Mexican economy continues to grow

tony nguyen

Mexico has emerged as the runaway winner in the recently published ‘Fastest Growing Currencies’ summer survey.

With demand fuelled by low-cost all-inclusive deals and direct BA flights to Cancun, Mexico saw a record growth of 144% compared with a year ago. This took the Latin-American country into the Post Office's top 20 bestselling currencies for the first time, at number 19.

Aside from Mexico, research reveals that after last year's Latin-American surge led by Brazil; this year's surprise success has been Argentina.

With a year-on-year sales increase of 120%, the Argentinean Peso was second only to Mexico in the growth table.

Like Mexico, its success may have been stimulated by the introduction of a direct BA service to Buenos Aires earlier in 2011.

Brazil is also set to attract a number of British visitors (potentially with a view to purchasing property) as the 2014 World Cup draws closer.

The showpiece event is expected to draw in football fans from right across the globe including as far as Africa, Europe and North America.

Considering all of this news, it looks set to be an exciting time ahead for South America with growth across the whole continent a realistic expectation.

Transfer Money to Mexico

If you are looking to invest in Mexico, think carefully about how you will be transferring money to Mexico. Foreign currency exchange rates quoted by banks are almost always worse than the exchange rates available through specialist currency dealers.

So if you are sending money to Mexico – which you will inevitably have to do if you are looking to make a property investment, be sure to compare the market before you buy your overseas currency.

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