Visa and The SABER Research Institute have released a study that shows the economic impact Mexican nationals have on San Antonio and the South Texas region.
The fact that Mexican nationals spend large amounts of money in our state has been assumed for years, and this report finally confirms with data that those beliefs are more than true.
"Spending in excess of $2.5 Billion in a 20 county region. More than 25,000 jobs that can be tied to that spending, and here in Bexar County alone more than $370 Million in spending," said Mayor Julian Castro.
To be precise, the study shows that Mexican nationals spent $2,377,235,906 in 2011 and $2,684,318,765 in 2012, a 12.9 percent increase, in a 20 county region which includes several border counties, Bexar County, and several other surrounding counties.
"San Antonio has always had a special relationship with Mexico. There are still so many people who cross the border today to visit relatives, and more and more we've also seen Mexicans who have established a second home or business here in the city," said Mayor Castro.
The study shows that Mexican nationals spent $398,142,513.40 in Bexar County last year, with more than 50 percent of the total being spent on Clothing, Appliances and Furniture, and Dining out.
"The 21st century global economy will belong to those communities that reach out to places around the world, particularly their neighbors, and forge strong friendships based in understanding and based in economics," said Mayor Castro.