Mexico is the 15th largest economy in the world and the second largest economy in Latin America. Mexico’s total GDP for 2018 was US $1.2 trillion (International Monetary Fund) showing a moderate growth of 2 percent. The average exchange was $19.25 MXP. Mexico imported $122 billion USD worth of processed food products in 2018 with $8.9 billion USD (over 60 percent) of the products coming from the United States, making it by far the largest supplier to Mexico. Mexico exported $27.2 billion of processed food with nearly $22 billion heading to the United States. The biggest categories were beer, tequila, and baked goods. The key players in the HRI sector in Mexico are Alsea (operating 18 casual eating brands including the ones previously owned by Walmart), CMR (operating 11 brands, nice casual eating and one signature dinning), IHG (operating 12 brands), Marriott International (operating 14 brands), Hyatt Group (operating 7 brands) and Hilton Hotels (operating 7 brands).