Mexico
Reuters

Mexico is the best country in Latin America when it comes to technology. Technological investments have propelled the country for the past few years and now boasts the most promising tech scene in the region.

Conversations about Latin America's ecosystem will not be completed without including Mexico. It is the second-largest country in the region that received almost a quarter of technological investments in the region in 2017.

The country has also been the entry point and became the second home of well-known tech companies like Google, Facebook, Uber, and now the biggest online streaming video in the world, Netflix.

It is not surprising anymore why Mexico is getting into the technological scene. But, what made Mexico as the technological hub in Latin America? Here are the things that you should know according to a published article in Launchway Media:

1. Mexico was the first country in Latin America to pass a law that regulates fintech.

Mexico's congress passed a bill in March 2018 that aimed to regulate the growing fintech market in the country. This is a clear manifestation that the country has fully embraced the full potential of technology towards the economy. Moreover, the bill will help to prevent money laundering and corruption.

2. Mexico received almost one-quarter of technological investments in Latin America.

Mexico received the second-highest level of technological investments in Latin America according to LAVCA in 2017. They are next to Brazil. Overall, the country has accumulated $80 million worth of investment and making the country the second biggest player in Latin America. To name a few, most of the technological investors were fintech, edtech, e-commerce and more.

3. Mexico is the fifth-biggest user of Facebook in the world.

Mexico has a total population of approximately 120 million and around more than 85 million of its population have a Facebook account. This means that more than half of the country's population is actively using Facebook. These numbers only speak that Mexico is the fifth-biggest user of Facebook in the world.

4. Goldman Sachs predicts that Mexico will be the world's fifth-biggest economy by 2050.

Goldman Sachs predicted that Mexico has a big potential to become one of the biggest economies in the world by 2050. The giant company also added that with the young and highly connected population that tries to transition into a middle-class, the country is expected to lead Latin America in the coming years.

5. The Mexican government has committed over $600 million startups fund

Mexican government through the Instituto Nacional del Emprendedor (INADEM) has committed a startup fund of over $600 million. Since 2014, the government has distributed an amount of $658 million to over 620,000 entrepreneurs. According to the INADEM, it helped to open 6,000 companies and more than 73,000 jobs.

It is not a big surprise anymore why Mexico became the new haven of technological business in Latin America. In the previous report of Latin Post, it was reported that Netflix will have its new base in Mexico because of its growing customers in Latin America. With this, it is expected that Mexico will become the center of the technological revolution in the years to come.