Latin American e-commerce and financial services giant Mercado Libre on Thursday announced plans to invest US$2.5 billion in its Mexican operations this year and next, its largest spending ever in the country.
The move comes just eight months after another commitment by the company to invest $2.45 billion in Mexico in 2024, highlighting the company's strong position in the Mexican market.
President Claudia Sheinbaum, accompanied by Economy Minister Marcelo Ebrard and State Governor Julio Menchaza Hidalgo, met with Mercado Libre founder and director Marcos Galperin and his team at the National Palace.
Sheinbaum shared news of the meeting in a Facebook post, saying, “We are driving the digitalization process to facilitate investment in Mexico.”
MercadoLibre, Inc. (MELI) is an Argentine company founded in 1999 and headquartered in Montevideo, Uruguay. It has become the largest e-commerce site in Latin America, with Mexico its second largest market.
Ebrard said during the meeting that the platform is “the most important in Mexico” and stressed that the amount invested in 2025 will be higher than in 2024.
“Next year's investments are estimated to exceed US$2.5 billion,” Ebrard said, calling this a record number demonstrating the company's commitment to the Mexican market.
This new investment will support the expansion of the company's distribution center in Hidalgo.
“There will be 7,000 (new) employees in Hidalgo state alone,” Ebrard said.
Mercado Libre's investments in the Mexican market have steadily increased over the years, after investing $1.5 billion in 2022 and a further $1.6 billion in 2023. The company is Mexico's largest online retailer, holding a 15.4% market share of Amazon in 2023. The share is 11.2%.
The company is also growing Mercado Pago, an electronic payment system that helps consumers make secure transactions on and off the platform.
In Mexico, Mercado Libre currently operates five aircraft and employs more than 30,000 people in its distribution centers and various local operations. The company is currently building new facilities in Queretaro, Hidalgo, and other key regions.
The expansion of the company's logistics division is expected to not only help shorten delivery times and improve customer satisfaction, but also strengthen the competitiveness of small and medium-sized businesses in e-commerce.
According to the company, more than 26 million unique sellers in Mexico use Mercado Libre to sell their products. According to a report by Merca20, the Mexican site received approximately 576 million visits in 2022, making it one of the country's most visited websites.
As reported by Merca20, Milenio, El Universal Hidalgo
