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Wow! 160,000 Companies Left Mexico Due to Insecurity

Article Summary:

Mexico’s never-ending violence is having an expensive toll on its economy, with over 160,000 companies leaving Mexico last year due to violence and insecurity.

Original Article Text From Estrategia y Negocios via Google Translate :

Mexico: Violence is expensive toll on the economy

Over 160,000 companies left Mexico last year due to insecurity in the country, said President of the Employers Confederation of the Mexican Republic, Alberto Espinosa. “Business people and families go to other countries in search of safety and welfare,” said the president of the Employers Confederation of the Mexican Republic (Coparmex). In a message released today, the leader of the employers warned about the spread of organized crime and insecurity in the country at levels “not seen in decades.” Since taking office Mexican President Felipe Calderon in December 2006, some 50,000 people have died from the violence unleashed by drug cartels and other organized crime groups. Espinosa explained that this violence has altered not only the lives of Mexicans, but increasingly affects the economy, and indicated that insurance premiums increased 30% and construction costs have increased to cover the cost to offset insecurity. (Source: Reuters)

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