Mexico advances in global competitiveness

MEXICO CITY, Mexico – Mexico has improved 13 positions in the last 2 years in the World Economic Forum Global Competitiveness Report. Mexico ranks 53rd in the 2012-2013 report, up from 58th place in 2011 and 66th place in 2010.

This positive trend in Mexico’s competitiveness is remarkable, given the context of global economic crisis and uncertainty. Mexico’s economic advancement reflects the strength of public policy and private sector confidence in the economic environment of the country.

Mexico’s economic growth and development was the subject of a recent MexicoToday video. Mexico’s economic stability and investment in education were praised by executives from Bombardier, Scotiabank Siemens, and Coca-Cola; as well as Tom Donohue of the U.S. Chamber of Commerce and former U.S. Trade Representative Carla Hills.

The World Economic Forum analyzes 144 countries to determine their competitiveness with hard data and surveys. Nations are evaluated on 12 pillars of competitiveness – institutions, infrastructure, macroeconomic environment, health & primary education, higher education & training, goods market efficiency, labor market efficiency, financial market development, technological readiness, market size, business sophistication and innovation.

In the last two years, Mexico posted advances in nine of the 12 categories. This includes a 35-position increase in financial market development, and 23 positions in business sophistication. Mexico’s ranking in innovation has risen 22 places in the last 2 years, and goods market efficiency has improved 17 spots. This year, Mexico posted a double-digit gain of 12 spots in labor market efficiency.