- Last year, IWG announced it would focus its expansion efforts in the Latin America region
- Regus opened its first flexible workspace location in Cancun, Mexico inside the Centro Internacional de Convenciones de Cancun
- The space was designed to help local SMEs improve their productivity and performance (slideshow at the end of the article)
Cancun is known for hosting millions of tourists a year; yet the success of Mexico’s southeast area isn’t just due to beaches and tourism. In fact, being located by the ocean gives Cancun and Quintana Roo a strategic advantage when it comes to doing business nationally and internationally.
According to Mexico’s National Institute of Statistics and Geography (INEGI), 40% of Mexico’s GDP can be attributed to SMEs, contributing to 78% of employment opportunities in the country. Last year (2017), Mexico’s Social Security Institute reported that the state of Quintana Roo occupied the first place in employment generation. However, the Center of Development for Business Competitiveness reports that only 25% of SMEs in Mexico survive after 2 years of operation. The INEGI has found two main issues hindering the growth and success of SMEs: growth and stability.
CEPAL (the Economic Commission for Latin America and the Caribbean) claims that part of the reason why SMEs in the region fail is due to lack of cash flow and liquidity, among other things. Globally speaking, the flexible workspace industry is known for providing affordable alternative workspace solutions for businesses of all sizes; helping them better manage funds and cash flow, while at the same time allowing them to grow or contract as needed.
Cancun, and the rest of the state of Quintana Roo, are an underserved market when it comes to flexible workspace solutions; with only a few options available in the area.
In an interview with Allwork.Space last year, Martin Roordink, CEO of Spaces, shared that their holding company International Workplace Group (IWG) — also the holding company of Regus — would focus part of its growth efforts in the Latin America Region.
Just last week, Regus announced the opening of its first center in Cancun. According to the press release, “Regus Cancun will provide a functional design and environment to local businesses to help improve their productivity and performance; two aspects that are fundamental for SMEs in order to strengthen their presence and image in their respective commercial sectors.”
Monica Sansores, General Manager of Regus Cancun, said that “more often than not, SMEs don’t have the necessary financial resources to invest in an office in a corporate or type-A building. Regus Cancun will allow SMEs to have access to a coveted location in Cancun, inside the Centro Internacional de Convenciones de Cancun, and at the same time represent savings of approximately 60% in workplace costs for SMEs.”