Pablo Soria de Lachica – Discusses Potential Employment Boost in Earthquake-Hit Mexico Areas

Human tragedy is the immediate observable consequence when natural disasters of devastating magnitude strike, but after the initial shockwave, the affected society turns its attention to matters such as infrastructure, housing, and public services. The process of restoration begins and with it come new opportunities, especially in the areas of building construction and civil engineering. This is likely to be the case in Mexico, which was rocked by two massive earthquakes in September this year and faces the onerous task of rebuilding. But reconstruction campaigns could actually provide an economic boost to the affected areas and create opportunities for new employment, according to acclaimed foreign exchange broker Pablo Soria de Lachica.

Despite the damage caused by the two temblors, the Mexican central bank said in October it did not expect the national economy to be significantly impacted in the long term. Although short-term growth could slow down, the country is likely to make up for the decline, the bank’s deputy governor Javier Guzman said. Economists also opined that rebuilding work could drive the economy up in 2018, with Moody’s Analytics’ Latin American bureau projecting an additional 0.4% to 0.5% to gross domestic product. Most of the reconstruction activity will be concentrated on building and repair work and given the scale of damages, it will take a while to reverse the effects and get the regions back to normal, Pablo Soria de Lachica noted. This means a steady stream of funding and investment along with the creation of many new jobs. Mexico’s emergency relief fund was estimated at about $500 million, and in the aftermath of the earthquakes, President Enrique Pena Nieto promised that his government would provide funds and low-interest loans to support rebuilding efforts.

It has long been observed that natural disasters often trigger a medium-term economic upswing, which in turn stems from investing in reconstruction and the resulting creation of jobs, as Pablo Soria de Lachica pointed out. Such are also the prognoses for Mexico’s earthquake-hit regions, with believers including the richest man in the country-telecommunications tycoon Carlos Slim. He was among the largest contributors to relief funds, announcing that his foundation had donated more than $100 million to support restoration projects. Slim stated that the earthquakes would fuel economic activity because workers “will be hired for all the reconstruction and renovation needed for schools, markets, and cultural heritage.” It remains to be seen how long the employment boost will persist, but it will undoubtedly play a key role in bringing the local economies back to life.

A graduate of Universidad Tecnologico de Mexico (UNITEC), Pablo Soria de Lachica has built a stellar reputation in the forex trading community and is regarded as one of the foremost brokers internationally. Combining professional guidance and educational projects, he aims to ensure the best outcome for his clients and maximize their profits. At present, Pablo Soria de Lachica is collaborating with Kartoshka, a company providing the latest technologies in sales, telemarketing and customer support. He is also passionate about environmental and charitable causes, supporting organizations such as the Boy Scouts, Delta Epsilon Sigma, Bridges for Peace, and the America-Israel Cultural Foundation.

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About the Author

Pablo Soria de Lachica
Pablo Soria de Lachica is an internationally acclaimed broker and Director of Business Development of Bforex, a renowned currency trading firm based in Panama City, with 18 offices spanning the globe, including locations in Brazil, Mexico, and Uruguay.