(Q24N) Mexico’s position on the World Competitiveness Index has fallen once again, now holding position 43 out of 63, according to findings by The World Competitiveness Center.
The country appears to have faltered in multiple key areas affecting its competitiveness compared to other countries around the world. Economic performance fell from spot 23 to 30, while government efficiency fell from 46 to 51. Infrastructure lost two spots since 2016, now residing at 55.
Education and international trade took a hit, falling to positions 62 and 60, respectively. In terms of homicide, Mexico ranks 59, as it does for corruption, foreign direct investment, pollution, and cyber security.
Mexico placed below Turkey, Russia, India and Slovenia. The first places were occupied by Hong Kong, Switzerland and Singapore. Since 2013, Mexico has dropped 16 positions in total, its best ranking having been 32.
There is a ray of hope, however, as the country placed well for the employment of young people (at seventh overall), cost of living (eighth overall) and general employment (tenth overall).
According to the researchers involved in the report, Mexico’s main challenges involve consolidating its trade relationship with the United States and diversifying export markets. The study also highlighted growth in Gross Domestic Product and improvements in the domestic market.