Overview of the Commercial Sector in Querétaro
Querétaro, Qro. After a complex first half of the year, the economic outlook for Querétaro’s commercial sector reflects a slight improvement for the second half, with modest growth expected, according to Lorena Muñoz Altamira, President of the Querétaro Chamber of Commerce.
Initial Economic Impact
At the beginning of the year, US trade announcements affected both the national and local economies. However, Muñoz Altamira anticipates a more positive outlook for the second half of the year.
Summer Season and Back-to-School Fervor
“Although significant growth is not expected, there should be a slight increase in previously stagnant contracts with the commercial sector, leading to more economic movement,” she stated.
The summer vacation season is projected to generate a $400 million economic impact, driven by leisure activities and sales from the return to school. This period is expected to activate various sectors, including tourism, hospitality, transportation, logistics, and food and beverage services.
Upcoming Events and Collaborations
Muñoz Altamira also mentioned preparations for the upcoming back-to-school fair, potentially held from August 16 to 18 at the Querétaro State Educational and Cultural Center. The chamber collaborates with the paper industry and the Federal Proconsumer Office (Profeco) for this event.
Additionally, the commercial sector looks forward to participating in the Encuentro Industrial y Comercial 2025, scheduled for September 3 to 5 at the Querétaro Convention Center. The chamber collaborates with Canacintra, Sejuve, and the Automotive Cluster for this traditional and significant event.
Networking Sessions and Annual Growth
To stimulate local commerce, the chamber plans networking sessions to encourage business exchanges among affiliated companies. The commercial sector is a crucial component of the local economy, with an annual growth rate of 1.7% in 2024, according to the Indicador Trimestral de la Actividad Económica Estatal (ITAEE) by the National Institute of Statistics and Geography (Inegi).
Key Questions and Answers
- What is the current economic outlook for Querétaro’s commercial sector? Despite initial challenges, the second half of 2023 is expected to see modest growth in Querétaro’s commercial sector.
- How will the summer season impact local businesses? The summer vacation period is projected to generate a $400 million economic impact, driven by leisure activities and sales from the return to school.
- What upcoming events are Querétaro businesses preparing for? Businesses are gearing up for the back-to-school fair and the Encuentro Industrial y Comercial 2025, collaborating with various organizations to maximize their participation.
- What initiatives are being taken to support local commerce? The Querétaro Chamber of Commerce is organizing networking sessions and promoting business-to-business (B2B) exchanges to stimulate local commerce.
- How has the commercial sector performed in recent years? The commercial sector has shown annual growth of 1.7% in 2024, according to the ITAEE by Inegi.
