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Question (En)
How has globalization affected trade practices and the economy of the area?
Answer (En)
Impact of globalization on the economy: Globalization has had a significant impact on business practices in San Miguel de Allende. The increase in international tourism has led to the opening of more businesses geared toward foreign visitors, such as restaurants serving international cuisine, art galleries, and high-end craft stores. In addition, the arrival of foreign residents has boosted the real estate market, raising prices and encouraging the construction of luxury homes. However, this has created challenges, such as gentrification, which has raised the cost of living and affected local residents in terms of access to housing and basic services.
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