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Mexico’s Macroeconomic Strength Improves its Competitiveness

September 15, 2011

by Arjan Shahani

Mexico received some excellent news recently when the World Economic Forum (WEF) published its Global Competitiveness Report, calling attention to the fact that the country has made significant progress in improving its relative position in the world competitiveness rankings.
From last year to the 2011-2012 ranking, Mexico moved from 66to 58 place, an eight-spot improvement. Only seven other countries had a larger jump in the list. As competitiveness expert Beñat Bilbao explains, “(this variation) is very relevant. Fluctuations from year to year tend to be very low.”

Besides drops suffered by other countries closely competing with Mexico, such as the Russian Federation, Jordan and the Slovak Republic, Mexico’s improvement in the ranking results from progress made in efforts to boost competition and facilitate entrepreneurship by reducing the number of procedures and the time it takes to start a business. The report also mentions Mexico’s large internal market size, sound macroeconomic policies, technological adoption, and a decent transport infrastructure as helping it to move up in the WEF Report.

This is no doubt a great triumph for President Calderón. He has continuously boasted over TV messages and radio spots that his administration has invested more resources than previous governments into improving federal bridges and highways in Mexico. Calderón has also been vocal about an open market economy and sound financial policies as key ways to face the global economic crisis. According to WEF, he’s on the right track.

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Tags: Mexico, Competitiveness


 
 

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