Mexico LGBT Trade Mission

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Key reasons why U.S. companies should consider exporting to Mexico:

1.    Mexico is the 15th-largest economy in the world with further growth potential from its young population (median age 28).

2.    Given Mexico’s large, diversified market, most U.S. products and services have ample opportunities. The new U.S.–Mexico–Canada Agreement (USMCA, see below) seeks to generate even more opportunities for U.S. companies.

3.    Mexico generally enjoys stable economic growth, despite sluggishness in 2019.

4.    Close cultural, social, and economic ties make Mexico a natural market to consider for first-time and expanding exporters.

5.    Mexico has made progress on LGBTQI+ issues; however, there are still barriers to full LGBTQI+ equality. Since 2010, same-sex marriage has been legalized in all states and discrimination based on sexual orientation is banned. Further protections for LGBTQI+ people vary depending on the state. Several states have adopted laws permitting same-sex couple adoption and the right to legal gender recognition. The social conditions of LGBTQI+ people also vary across the country. In large cities and states with progressive government officials, LGBTQI+ people’s human rights are protected and there are legal ramifications for acts of anti-LGBTQI+ violence. However, in states with conservative government officials, anti-LGBTQI+ hate crimes occur with impunity. Religion also impacts social and cultural norms around gender and sexuality, and several anti-LGBTQI+ groups oppose legislation striving for full equality for LGBTQI+ people. Despite these challenges, LGBTQI+ Mexicans are experiencing greater and growing acceptance and visibility, particularly in urban centers and among younger generations. This proposed 2023 LGBTQI+ Trade Mission to Mexico will contribute to improve the economic opportunities and development of LGBTQI+ communities both in the United States and Mexico.

6.    The pink market is the set of strategies that companies use to measure and approach a specific market: the gay or LGBTQI+ market, which, although small compared to the rest of the population, has great purchasing power and the ability to generate important market trends.

7.    According to data from LGBT Capital, it is estimated that the global market value of the LGBTQI+ population is around 3.9 trillion dollars. In Mexico, it was estimated at 66 billion dollars at the end of 2019.

8.  The importance of the Pink Market lies in the purchasing power of the LGBTQI+ community compared to the conventional market. In marriages based on the traditional model, it is usually the father who is the financial support of the household. LGBTQI+ couples, for the most part, fall within the DINKY segment (acronym in English to refer to people with double income without yet having children), whose income is allocated to luxury or premium products or services in commercial sectors such as: Travel & Tourism, health and personal care, technology, professional services, financial services, culture and entertainment, living space, and automotive.

9.    According to data from the Mexican National Institute of Statistics and Geography (INEGI), analyzed by the Mexican Federation of LGBT Entrepreneurs (FMELGBT), this market could contribute around 80 billion dollars to the national GDP. On average, LGBTQI+ people spend 15% more than a heterosexual person.

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The forum fee will include registration for the LGBTQI+ Mexico Executive Matchmaking Forum, including conference materials and admission to all sessions and networking events with industry and government representatives, country market briefings, and logistics support.  It also includes business-to-business appointments with pre-screened potential business partners in Mexico City.

Forum participants will arrive in Mexico City on or before August 2nd to attend the opening Forum briefing event. On Thursday, August 3rd, forum participants will participate in one-on-one meetings, and a networking reception. More specific, the forum participants will engage in business-to-business appointments, each of which will be with pre-screened potential buyers, agents, distributors, or joint-venture partners in Mexico City. In the evening, participants will participate in a travel fair focused on LGBTQI+ friendly U.S. destinations. Finally, on Friday, August 4th, participants will be offered city tour focused to the LGBTQI+ community.

*Note: The final schedule and potential site visits will depend on the availability of host government and business officials, specific goals of mission participants, and ground transportation.
 

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All parties interested in participating in the U.S. Department of Commerce LGBTQI + Mexico Executive Matchmaking Forum must complete and submit an application package for consideration by the U.S. Department of Commerce. All applicants will be evaluated on their ability to meet certain conditions and best satisfy the selection criteria as outlined below. 

Each applicant must certify that the products and services it seeks to export through the forum are either produced in the United States, or, if not, are marketed under the name of a U.S. firm and have at least 51 percent U.S. content by value. In the case of a trade association or organization, the applicant must certify that, for each firm or service provider to be represented by the association/organization, the products and/or services the represented firm or service provider seeks to export are either produced in the United States or, if not, marketed under the name of a U.S. firm and have at least 51 percent U.S. content.  

A maximum of 10 firms and/or trade associations will be selected to participate in the forum on a first come first serve basis.  During the registration process, applicants will be assigned to the respective commercial specialist for company market assessment.   

All selected participants will have the opportunity to have business-to-business meetings in Mexico City.

The number of firms that may be selected for each country are as follows: Ten (10) companies for Mexico City.

The Forum is open to U.S. firms already doing business in Mexico who are seeking to expand their market share and to those U.S. firms new to Mexico.