Yucatán’s economic recovery predicted to be a long slog

A woman with a protective face mask pushes a basket of flowers along a residential street in the Xochimilco district of Mexico City, Friday. As Mexico moves toward a gradual reactivation of its economy Monday, the number of new coronavirus infections grows higher every day, raising fears of a new wave of infections that other countries have seen after loosening restrictions. AP Photo: Rebecca Blackwell
Yucatán’s slow but gradual economic recovery for is predicted through 2022. File photo

Economist Álvaro Cano Escalante projects a slow but gradual recovery for Yucatán’s economy through 2022.

At all levels of government, leaders have expressed cautious optimism regarding the future prospects of the economy. But given the numbers of business closures and lost jobs, the situation remains uncertain.

The state government of Yucatán has begun to roll out its plan to reactivate the economy and has been working with the private sector to share information pertaining to safety protocols specific to each industry.

According to Ernesto Herrera Novelo, Yucatán’s secretary of economic development, the state’s economy has held up better than those of other states. Returning to pre-2020 levels in key industries such as tourism will be extremely challenging, he added.

The recent announcement by the federal government of a nationwide COVID-19 vaccination program has sparked hopes across the country that a turning point in the fight against the virus might be on the horizon and bring along with it improvements to the economy.

The relative success of the Buen Fin holiday promotion, with retail sales only 9% below record-setting 2019 levels, along with the arrival of the holiday season, have been a boon for retailers which have been struggling for months, government sources indicate.

Carlos Rosado van der Gracht

Born in Mérida, Carlos Rosado van der Gracht is a Mexican/Canadian blogger, photographer and adventure expedition leader. He holds degrees in multimedia, philosophy and translation from universities in Mexico, Canada and Norway.