According to the Organization for Economic Cooperation and Development (OECD), Mexico ranks number nine among the top ten places in attracting foreign direct investment within (FDI) of OECD countries.

In the first semester of 2023, the country received 29.041 million dollars of FDI, an increase of 41%, compared to the same period of the previous year).

FDI greenfield projects in Latin America grew 13% in 2022, while capital spending also grew 50%, and job creation as a result of these projects increased 29% compared to 2021.

Consult here: Cuautitlán and Tultitlán industrial submarkets concentrate 70% of the construction in CDMX

The results of nearshoring have made evident the growth of the manufacturing industry in Mexico in terms of increases in production, hiring of personnel, exports and investment in new technologies and production processes.

However, nearshoring has also benefited economic activities that do not directly depend on manufacturing. EY analysis indicates that the professional and financial services industry is thriving in Mexico, investment in this sector grew 1.0% from 2015 to 2019 and the growth expectation from 2022 to 2028 is 7.4%, while China experiences a slowdown and India keeps a steady pace.

Jorge Lacayo, EY-Parthenon's lead strategy partner in Latin America, commented that the arrival of foreign investment in Mexico boosts other industries due to urban growth, increased disposable income, domestic travel and economic proximity.

Of interest: American, European and Asian companies expand industrial operations in Saltillo

An example of this is the investment of hotel chains that seek to position themselves in industrial areas of Mexico and not in beach destinations. Similarly, the health sector grows at an annual rate of 7%, driven by a growing demand for private services.

In tax matters, Mexico is also attractive not only because of the various Free Trade Agreements, but also because of the treaties to avoid double taxation, where Mexico has more than 60 agreements in general.

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Original note