Walk on the streets and you´ll be exposed to its informal economy: people who do what they can to eke out a living including washing windshields, selling food, or even singing, dancing, and performing acrobatics for a tip.
What Americans may not know is that Mexico City is home to the wealthiest people, the poshest neighborhoods, the most exclusive shops, entertainment venues, and cultural centers on the planet.
Mexico City has been the economic center of Mexico for a long time and is a true primate city. “Wealth accumulation in Mexico City has historically been concentrated in the hands of a few. In colonial times, the elite was mostly composed of Spanish-born immigrants who held high-ranking offices or worked as business owners or export-oriented merchants. Later, the wealthy were those who owned large estates known as haciendas…It is estimated that around 40 percent of Mexico’s income is owned by just 10 percent of its population, while 52.3 percent of Mexican citizens live in poverty.”
Tags: urban, megacities, economic, labor, Mexico.
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