ECONOMIC OVERVIEW

WHY PRO QUINTANA ROO?

Quintana Roo is a State with constant development and diversification of its economy.

Tourist industry is the main strength, with a worldwide recognition of its competitive advantages that gives investors business conditions. We are the main tourism industry of Latin America with a strategic geographic location and air connections to Central America, South America, Europa and Middle East. We have a tropical climate all over the year, and a multicultural society, among others.

OUR MAIN ECONOMIC INDICATORS

Total Population

2018 average

RANK STATE TOTAL POPULATION
25 Quintana Roo 1,709,569

Source: Cómo vamos México

State GDP contributions per sector

GDP in the state 2017
275,084

GDP contribution to the State according to sectors

Year Primary Sector Secondary Sector Tertiary Sector
2015 0.80% 10.87% 88.33%
2016 0.74%  12.58% 86.68%
2017 0.76% 10.96% 88.28%

Economic Average growth rate

Quintana Roo is within the 5 states of highest economic growth of the country, with 4.1% of 2018 growth.

Economic Average growth rate 2018

RANK STATE 2017 AVERAGE ECONOMIC GROWTH RATE
1 BCS 11.2% 14.2%
2 AGS 3.8% 4.4%
3 Q. ROO 4.1% 4.1%
4 OAX -3.5% 3.9%
5 JAL 2.9% 3.6%
  • RATE %
  • Below 0.0%

  • Between 0.0% and 3.4%

  • Between 3.4% and 4.5%

  • Higher than 4.5%

  • (figures in bold are included in period)

Source: Cómo vamos México

Formal job creation (2018)

Quintana Roo is the first state that achieves the formal job creation goal.

RANK STATE 2017 % GOAL ACHIEVED
1 Q. ROO 240% 197%
2 QUE 237% 150%
3 BCS 168% 146%
  • % GOAL

Source: Cómo vamos México

  • In 2018, there was an 8.1% increase in insured labor force.
  • The economy diversification has been a determining factor in job creation. 43,000 new positions at formal jobs were created in 2018.

Occupancy and unemployment rates in 2019:

Occupancy Unemployment Participation according to population at working age Unemployment - Calculated rates according to economically active population Partial occupancy and unemployment Paid work
864,429 25,770 67.8 2.89 8.0 68.6

Source: IMSS
Source: INEGI anuario estadístico

COMPARISON BETWEEN END 2018 – BEGINNING 2019

End 2018 (4th quarter) 1st quarter 2019
3.06 2.89

Source: INEGI. Encuesta Nacional de Ocupación y Empleo. Indicadores estratégicos.
Update date: Thursday, May 16th, 2019.
Link: https://www.inegi.org.mx/app/tabulados/default.html?nc=624

Quintana Roo is the third State local level with the best economic participation rate at the first quarter of 2019.

Rank State Participation Rate
Baja california Sur 67.7%
Colima 67.4%
Quintana Roo 67.2%
Yucatán 65%
Nayarit 64.9%

Employment Participation Rate

STATE CLASIFICATIONS 4th QUARTER 2018

RANK STATE PARTICIPATION RATE
1 Baja California Sur 67.7%
2 Colima 67.4%
3 Quintana Roo 67.2%

IMSS numbers support that at the first quarter of 2019, in Quintana Roo were created more than 11,000 new jobs, meaning an anual growth rate over 5.5%, overcoming the national rate that its of 3,1%.

INEGI has revealed that Quintana Roo has a constant growth of three times the national average, because of the tourist industry that prevails in the State. In 2019, Quintana Roo has achieved being a leader in job creation at the first quarter of 2019, according to IMSS numbers. This was reflected in a superior growth of 5.5%.

Employment Female Participation Rate:

Quintana Roo is within the five main States with higher female participation rate.

STATE CLASIFICATIONS 4th QUARTER 2018

RANK STATE PARTICIPATION RATE
1 Colima 55.5%
2 Baja California Sur 55.0%
3 Nayarit 51.4%
4 Yucatán 50.8%
5 Quintana Roo 50.7%

Source: Cómo vamos México
Source: SEGOB/IMSS

GDP per cápita (2017)

Quintana Roo is in the top 10 states with higher GDP Per Cápita, above national average in 2017.

RANK STATE GDP PER CÁPITA 2017
1 Campeche $528,604
2 Ciudad de México $386,896
3 Nuevo León $298,137
4 Coahuila $255,665
5 Sonora $236,681
6 Querétaro $234,980
7 Baja California Sur $231,188
8 Aguascalientes $214,212
9 Tabasco $201,289
10 Quintana Roo $196,487

Source: Cómo vamos México

Blue Flag Distinction

  • 13 Quintana Roo’s beaches are added to the Blue Flag distinction
  • Blue Flag distinction recognizes coastal destinations that has managed security operations, services and environment, with an excellent standard.
  • Quintana Roo has 13 beaches, 8 of them, had this distinction.
  • Quintana Roo is the best qualified state from Southeast, according to its income.
  • Quintana Roo is leader in country’s Southeast in job creation, according to the end of 2018.
  • Quintana Roo has 38.2 points over national average, which is of 23.8 points.

Source: La Fundación para la Educación Ambiental en México y Blue Flag México
Source: Índice de Desempeño Financiero de las Entidades Federativas

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MONTHLY ECONOMIC INDICATORS