Mexico Improves 9 Positions Compared to Last Year
MEXICO CITY, May 19, 2011 /PRNewswire-USNewswire/ -- The following is being released today by Marca Pais - Imagen de Mexico:
The International Institute for Management Development (IMD) recently released its 2011 World Competitiveness Yearbook (WCY) where Mexico ranked 38th, nine positions higher compared to last year. This improvement was due to the recovery from its 2009 recession which led its economy to suffer a 6.1 percent drop in its Gross Domestic Product (GDP), according to a CNN Expansion article.
IMD's "The World Competitiveness Scoreboard 2011" shows Mexico ranked higher than other Latin American economies, including Brazil, Peru, Colombia, Argentina and Venezuela, and higher than several European nations, including Turkey, Italy, Portugal, and Hungary, among others. Consequently, the Yearbook positions Mexico as the second largest economy in Latin America, following Chile which ranked 25th.
And it's no surprise why Japanese investors already have their eyes in Mexico as their next destination driven by its solid economic growth and stable policy stance, as recently reported by a The Wall Street Journal article. Or why the Inter American Development Bank's Alfredo Gonzalez Briseno says in a video that, "The economy in Mexico is getting stronger." And in a recent Reuters article, Mexico's Finance Minister Ernesto Cordero stated that, "[2011] will be a good year for taking in foreign direct investment. We hope to be around 20 billion dollars."
The Yearbook also places Hong Kong and the United States tied as the most competitive countries in the world, both slightly above than last year's top ranked Singapore. In last year's Yearbook, the United States ranked third, losing its first place for the first time in decades.
The IMD World Competitiveness Yearbook (WCY) is the leading annual report on the competitiveness of nations and has been published by IMD since 1989. IMD is a leading provider of executive education for large- and medium-size international businesses and for individuals, is based in Lausanne, Switzerland.
SOURCEMarca Pais - Imagen de Mexico
