Mexico fell from position 53 to 55 in the 2021 World Competitiveness Ranking, reported the Institute for Management Development (IMD).
Separately, in the four pillars the index is divided, Mexico went from position 38 to 49 in economic performance; from 55 to 59 in government efficiency; from 48 to 47 in business efficiency, and from 57 to 58 in infrastructure.
World Competitiveness Ranking
First of all, all the political leaders in the world used different strategies to contain the increase in Covid-19 infections and simultaneously allow their economies to continue to function.
One year later, Covid-19 is still a great challenge.
The public and private sectors have had to adapt to the pandemic environment, some with success and some with very poor achievements.
The pandemic brought and to stay in our daily lives the following:
- Remote work.
- Distance learning.
- Online purchases and sales.
- Communication “on line” or work, or business, or family and / or friends via platforms such as zoom, google meet, etc.
As is often the case during any crisis, new opportunities and entrepreneurial and innovative minds emerged that tried to provide solutions.
In Mexico, particularly, the trend shown by all other Latin American countries is followed: Mexico fell two positions in the World Competitiveness Ranking.
In a statement, Carlos Maroto, general director of the Center for Strategic Studies for Competitiveness, S.C. (CEEC) said that Mexico’s decline in competitiveness is mainly due to its poor economic performance, particularly in indicators related to job creation and price increases.
Globally, the deep economic recession caused by the pandemic continues to have profound economic and social consequences.
Since the outbreak of the pandemic, unemployment rates have risen rapidly in most advanced and developing economies, and poverty rates have started to rise again, reversing the gains made in recent decades.
According to the latest estimates, the economic and health crisis triggered by Covid-19 is expected to push between 88 million and 115 million more people into extreme poverty in 2020.