Mexico is the only Latin American country that CEOs place in the top 10 where they can generate more income, with Brazil out of this select group, according to the Global CEO Survey 2024, Mexico chapter, by PWC.
The United States was the country that topped the list worldwide, being considered by 29 percent of respondents, followed by China, with 21 percent. Mexico, meanwhile, obtained 5 percent.
Ana Paula Jiménez, managing partner of PWC Mexico, said that the fact that the Country stands out can be attributed to the effect of nearhosring or relocation of production of companies in the manufacturing industry.
“Nearshoring can be a virtuous circle for the Mexican economy because it has the potential to attract more investment and generate more employability in our Country,” she said during the presentation of the survey.
The increase in Foreign Direct Investment (FDI) in Mexico is an element that reflects the use of this trend.
“According to the Center for Public Finance Studies of the Chamber of Deputies, the FDI made and notified between January 1 and September 30, 2023 amounted to 32 billion dollars, and this implied an increase of almost 2.5 percent compared to the same period of the previous year. What does this tell us? That we are already beginning to see the fruits of attracting more investment in the Country due to the effect of nearshoring,” Jiménez stressed.
International trade is being reconfigured to reduce the risk of having a single manufacturing supplier as China was in the last 20 years, she said.
Likewise, Mexican companies with global operations, whose main market is abroad, have more consideration for the international political and economic impacts that could affect their businesses.
38 percent of the executives surveyed in Mexico considered that geopolitical conflicts are a moderate risk for the growth of their companies.
Jiménez also referred that although currently there is an advantage of adopting technological tools, as CEOs they have the obligation to train and train the workforce to take advantage of these technologies and be able to develop and enhance talent, while taking advantage of the moment of nearshoring.
Source: Reforma
