Why This is Important to Wisconsin: Wisconsin manufacturers may find connections in shipbuilding or port construction.
Boating is big business in Mexico.
With its many seaside resort communities, Mexico has seen a growing number of boat owners, yacht rentals, and boat manufacturers.
According to Florida Yachts International, Mexico is the second-largest boating market in North America. A report, based on Mexican yacht sales, said that yachting generates more than 1 million jobs, grows about 5% a year, and contributes $39 billion a year to Mexico’s gross domestic product.
The report said Mexico has more than 160,000 active boat owners and more than 1,000 yacht rentals, including those that specialize in sailing. The Mexican government initiated a program that provides incentives for people to buy and register their boats in Mexico.
According to the boating marketplace website Getmyboat, the top three locations for boating in Mexico are: Cabo San Lucas, Cancún, and Puerto Vallarta.
The Mexican Association of Boat Manufacturers said there are also about 600 boat producers in Mexico.
With more than 7,000 miles of coastline, Mexico’s 102 ports and 15 terminals are busy with freight shipments and cruise ship stops as well as leisure boats and yachts. The government announced in December 2024 that it is undertaking a $1.6 billion upgrade of six key ports in Ensenada, Manzanillo, Lázaro Cárdenas, Acapulco, Veracruz, and Progreso.
Wisconsin has a strong shipbuilding industry, and companies involved in that field may find opportunities in Mexico. Wisconsin heavy equipment manufacturers with products for dredging, breakwaters, or terminal construction may also consider pursuing options there.
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