Mexico movie industry blossoms thanks to gov’t support

Global Business

For Latin America, 2016 was a breakthrough year on the silver screen for Mexico.

The number of Mexican produced movies released was the highest in nearly six decades.

CGTN’s Martin Markovits reports on what helped the industry take off.

Mexico movie industry blossoms thanks to gov't support

For Latin America, 2016 was a breakthrough year on the silver screen for Mexico. The number of Mexican produced movies released was the highest in nearly six decades. CGTN’s Martin Markovits reports on what helped the industry take off.

Mexico’s film industry has entered its own version of a golden age. According to the country’s National Cinematography Institute, 162 Mexican produced movies were released in 2016 and the most since 1958.

Mexican government incentives including a tax break stimulus program known as EFICINE have helped the film industry grow for the seventh straight year.

Mexican director Carlos Hagerman’s last three films have received money from this program. He said it has been an indispensable tool for Mexican filmmakers.

“Before EFICINE, it was a different scenario. Very few movies were produced here. This tax incentive has strengthened the film industry here, and it has allowed filmmakers to live off and fully dedicate themselves to making movies,” Hagerman said.

It’s not just Mexican films that are benefiting from these government incentives. Since 2010, the Mexican government has offered to cover up to 17.5 percent of production expenditures to foreign productions that are shot in Mexico.

Along with its proximity to Los Angeles and cheap labor costs, has resulted in scores of American movies and television programs moving their productions south of the border. Cementing Mexico’s reputation as one of Hollywood’s favorite spots for location shooting.