During a cold January, we jumped at the opportunity to participate in the UW Madison – Wisconsin School of Business annual international business class trip and ventured south to Mexico City! While there, we enjoyed the opportunity to learn about Mexican culture and the various nuances that come with conducting international business. This past week was packed with a strong itinerary featuring Mexico’s food, history, and businesses. We had the opportunity to hear from, and engage with, numerous business leaders across a variety of different industries, and wanted to share our insights and highlights.
Day One: Mexico’s Business & Financial Landscape
Our journey began with a visit to BC&B Consulting, where we gained valuable insights into Mexico’s economy from a foreign investment, business law, and consulting perspective. Experts at BC&B shared their experiences consulting on business and law, providing us with a strong foundational understanding of the country’s economic landscape.
Next, we visited Veritran, a software provider for banking services, where we had the privilege of hearing perspectives on challenges such as the low market penetration of fintech in Mexico, and the evolving financial sector in the country, as Veritran seeks to provide a software solution medium to small sized banks.
That night we enjoyed a delicious welcome dinner at Terraza Cha Cha Cha with a great view of the city and the Monumento a la Revolución.
Day Two: Exploring Agribusiness & Energy
Day two kicked off with a great talk by Rolo Leyton, the CEO of Tropical Organic Growers. Mr. Leyton provided an overview of Mexico’s booming Agribusiness sector, including his plans for market growth and involvement in the US food market.
We spent our afternoon with Generac LatAm at the Tecnológico de Monterrey campus, where we learned about the energy sector in Mexico. Our discussion covered local regulations, industry trends, and key engineering projects at Generac. We also learned about the political climate in Mexico and how the national government’s stance on energy has a significant impact on a company like Generac. It was neat to see a Wisconsin-based company such as Generac having an international impact.
Day Three: Luxury Hospitality & City Tour
We started day three with a visit to the Four Seasons Mexico City, one of the premier luxury hotels in the city. We were provided with a unique perspective on the high-end hotel and resort industry as well as with a brief history of tourism in Mexico City. Four Seasons’ commitment to exceptional service and beautiful amenities left a lasting impression on our group.
In the afternoon, our guide Eva led a tour through the center of Mexico City, where we learned about the history and cultural significance of some of the most famous sites. We ventured into the beautiful Catedral Metropolitana and viewed the nearby ruins from Aztec temples built in the heart of Tenochtitlán, known as Templo Mayor.
Day Four: Technology, Media, & Business Reporting
Day four began with a visit to Twitch.tv, where the VP of Partnerships, Ignacio Estranga, and his team shared insights into the media streaming sector in Mexico. We learned how Twitch has adapted to meet consumer needs post-pandemic in addition to how Twitch’s business model functions and about trends in the streaming business.
Our day continued with a visit to Bloomberg, where the Mexico Bureau Chief, Carolina Millan, provided an overview of Bloomberg’s business reporting and shared key storylines regarding the impending Mexican presidential election.
Day Five: E-commerce & Digital Marketing
Our final day began with a visit to Amazon, where we explored doing business in Mexico within the context of Amazon’s business lines. We discussed distribution issues, consumer behavior, and localization needs, highlighting the immense potential of ecommerce in the Mexican market.
In the afternoon, we visited ActivaMente, where we gained valuable insights into digital marketing and brand management. Founder Ana Cravioto shared some of her most memorable campaigns and provided in-depth knowledge about consumer segments and retail channels in Mexico.
Weekend Exploration & Farewell
We were given the freedom to explore during our final two days in the city, and students took full advantage of what the city has to offer. We attended a Lucha Libre wrestling match at Arena México, explored the Castillo de Chapultepec, and enjoyed exceptional food, drink, and company to celebrate our completion of the program. Our farewell dinner, held at Azulísimo, was a great way to round off the trip with authentic Mexican food and a course wrap-up.
Overall, our international business class trip to Mexico City was an incredibly enriching experience that provided us with a deeper understanding of Mexico’s dynamic business environment. The valuable insights gained during these five days have broadened our perspectives and will help contextualize the way in which we view Mexico as a country, as well as the complex dynamics of international business going forward. We are very grateful to have had this incredible opportunity and look forward to expanding our knowledge of international business further through future experiences!
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