Mexico VS Asia: A fight to attract manufacturing

Nearshoring, or approximation, is when a company seeks to transfer work to companies that are less expensive and that as a location are closer to the main consumer markets of the manufactured product. According to the neashoring index, of the English company Savills, Mexico is in position 15 out of 40 countries.

Of the different aspects that were analyzed, in America, Mexico is the country with the highest ranking among those surveyed, it ranked 15th, standing out in low cost of labor (one tenth of those in the United States) which has positioned it as a major manufacturing market in close proximity to the large US consumer market.

Additionally, and with the entry into force of the new Free Trade Agreement between Mexico, the United States and Canada (T-MEC, formerly NAFTA), Mexico became a key element for global companies seeking to maintain a competitive position in the North American market .

The clearest example of this phenomenon is in the automotive sector, such as the BMW plant in San Luis Potosí, which attracted suppliers from the German manufacturer to establish themselves in the area.

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