Industry 5.0

Tourism

The travel industry has transformed due to the evolution of business models and the changes in consumer habits, most of all because globalization increased the demand, even with the pandemic. According to Deloitte, between 24% and 34% of travelers in the world feel confident to take an international flight.

Despite the long road to recovery that awaits, the travel industry in our country and the world continues to make attractive offers for consumers and according to the World Travel & Tourism Council (WTTC) by 2032, the travel industry will add a total of 5.5 millions new jobs just in Latin America, with an interannual economic growth rate of 3.2%.

By 2021, a gradual recovery is expected. According to a study presented by the Center for Research and Tourism Competitiveness (CICOTUR by its acronym in Spanish), the arrival of international tourists will increase this year to around 27 million travelers, 10.9% more than the previous year.

In terms of foreign exchange earnings, it is estimated that revenue from international visitors will amount to 13,700 million dollars, which presumes a continuous advance in tourism with a safe recovery.

Agri-food business

The following years will be key for the agri-food industry due to the ratifications of the changes in the USMCA (US-Mexico-Canada Agreement), which achieved great benefits for Mexican producers.

The demand for agricultural products has always been constant, especially because between 1960 and 2000 the world population doubled, which has meant that this sector has always faced the challenge of supplying food for the entire population.

According to the FAO (Food and Agriculture Organization of the United Nations), in 2050 it will be necessary to produce 50% more food for human and animal consumption, as well as biofuels given that the United Nations Projection states that the world population will reach 9.73 billion.

However, the real challenge is to work with sustainable agriculture, through a more efficient use of land, labor and other inputs such as technological advances, social innovation and new business models to produce food, preserving the scarce natural resources and minimizing waste.

Automotive, Aerospace and Space

For decades, the automotive industry in Mexico has been one of the most important in the manufacturing sector. It currently represents approximately 3% of the gross domestic product (GDP), with about 30 billion dollars in revenue per year and creating more than 500,000 direct jobs.

The geographical proximity to the U.S. automotive market and the free trade agreements with several countries and trading blocs allows more affordable transportation costs and shortens time to market for suppliers.

Also, Mexico is a country with significant competitive advantages for the aerospace industry such as low costs combined with high productivity and skilled labor, which implies great opportunities as the industry grows stronger to build lighter, faster and more efficient aircrafts, as well as improve time to market.

One of the biggest opportunities for the space industry in Mexico is the design and development of satellites which will represent a large market in the next decade. During the First National Congress of Space Activities (Conaces) it was established that the total value of the complete aerospace industry represents $1,367 million dollars, from which 27% corresponds to the space industry alone with the maintenance, design and development of satellites.

Entertainment & Media

This industry is in constant evolution and in the process of adapting to new business models, so companies are under permanent stress to match the changing consumer expectations and behaviors.

This sector is becoming increasingly diverse and complex, and faces the challenge to quickly identify opportunities in a fast-paced world where digitalization has changed the rules of the game.

One of the most outstanding trends in the entertainment industry is the screenless display, because for the first time it begins to leave behind the traditional course and faces a hybrid reality.

It is estimated that by 2030, 90% of devices made for entertainment will be more similar to screenless displays than to the traditional versions we are used to; because through these devices, entertainment, work and even social interaction spaces will be integrated.