Economy of Jalisco

rdf:langString Economy of Jalisco

rdf:langString Since the foundation of the New Kingdom of Galicia, the Mexican state of Jalisco has established itself as a main hub in the national economy and as the business centre of the western portion of the country. Although its economic strength is mainly concentrated in the capital, Guadalajara, the rest of the state enjoys a growing prosperity in diverse economic areas. Forest products are obtained along the coast, and mining for silver, gold, mercury, copper, and precious stones is an important activity. The beverage tequila, distilled from the juice of the agave cactus, is named for the town of that name in Jalisco and is one of the state’s best-known products. Since the state is home to two UNESCO World Heritage Sites, tourism is an important economic engine. In 2006 20 million local and international tourists visited the state, contributing to an economic revenue of 25 billion pesos, 11% higher than in 2005. Guadalajara is served by one of the country’s busiest airports and is one of the state’s major tourist centres. Puerto Vallarta is a popular tourist destination among young students. The state ranks number three in terms of nominal GDP behind Nuevo León State. Since the adoption of the North American Free Trade Agreement (NAFTA) in 1994 the state has been experiencing a high rate of investment. Jalisco, like many other industrial states in the country, has evolved from a producer of cheap, low-quality goods into an exporter of sophisticated products, from auto brake systems to laptop computers. 86% of the population is urban, higher than the national average of 76%.