World Competitiveness Ranking: Mexico, its Declines and Improvements
Mexico ranked 56th in the IMD‘s World Competitiveness Ranking 2023, one place less compared to the previous edition.
On the one hand, its main improvements were in employment (long-term growth), labor force (also long-term growth), population growth, tourism revenues, commercial services exports, real GDP per capita growth, compensation levels, inbound student mobility, and new business density.
The country also had improvements in adaptability of government policy, public finance, resilience of the economy, quality of air transport, risk of political instability, access to water, bribery and corruption, public budget surplus/deficit, exposure to particulate pollution, unemployment rate, and highly skilled foreign personnel.
On the other hand, Mexico’s biggest declines were in skilled labor, cost competitiveness, effective labor relations, dynamism of the economy, business-friendly environment, open and positive attitudes, access to finance, high level of education, reliable infrastructure and quality of corporate governance.
Other declines were in competitive tax regime, effective legal environment, political stability and predictability, strong R&D culture and government competence.
The criteria for evaluating the above 15 largest improvements and 15 largest declines in the overall performance of the Mexican economy are determined by the largest percentage changes in the value of each criterion from one yearbook to the next.
World Competitiveness Ranking
The ranking is prepared by the Institute for Management Development (IMD), based in Switzerland.
IMD is an independent academic institution with Swiss roots and global reach, founded nearly 75 years ago by business leaders for business leaders. Since its inception, IMD has been a pioneering force in developing leaders who transform organizations and contribute to society.
With locations in Lausanne (Switzerland) and Singapore, IMD has been ranked in the Top 3 of the FT’s annual Global Executive Education rankings for the last nine consecutive years and in the top five for 17 consecutive years.
