Inflation in Quintana Roo reached 8%, however, at the national level it is expected to close the year at close to 10%.
At least six thousand businesses are at risk of lowering their curtains in Cancun this 2022, due to low sales, inflation, and a complicated economic outlook, for which they seek support from rescue programs.
Rafael Ortega Ramírez, president of the National Chamber of Commerce, Services and Tourism (Canaco-Servytur), explained that they are concerned about the country’s economic situation, especially inflation, since the cost of products increased by up to 20%, and It is necessary to carry out actions so as not to reduce the number of companies, especially micro, small and medium-sized ones, which also affects employment.
“The purchasing power of people decreased, since they have to spend on basic supplies such as food, health, school, and many things remain out of reach, such as clothing, shoes, entertainment, which results in low sales for companies focused on these items”, he explained.
The businesses that offer products or services that are not considered essential are the ones in the red, and, according to Ortega Ramírez, if inflation continues to rise, they will end up closing sooner or later.
In that sense, he explained that they will seek support in the next state administration to propose launching some type of program that helps reduce the mortality of economic units.
MSMEs the most vulnerable to inflation
According to data from the National Institute of Statistics and Geography (Inegi), during the pandemic, 31% of the businesses that disappeared in the entity were Micro, Small and Medium Enterprises (MSMEs), being the most vulnerable.
Ortega Ramírez explained that an SME generates about 10 jobs, so it is important to keep them open and promote more openings.
Inflation in Quintana Roo reached 8%, however, at the national level it is expected to close the year at close to 10%, which would lead costs to continue to rise and this will affect family income.
“We are confident that something can be done in favor of business and thereby achieve greater investment attraction and no more closures,” he explained.