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Mexico Advances as Innovator in World Economic Forum Global Competitiveness ReportSeptember 10, 2012 By: Newswire
According to the World Economic Forum Global Competitiveness Report, Mexico was raised thirteen positions in the rankings of innovation in the last two years. Mexico ranks 53rd in the 2012 to 2013 report, up from 58th place in 2011 and 66th place in 2010.
Given the background of its global financial crisis and insecurity, the increasing trend of Mexico's competitiveness is remarkable. Mexico's economic improvement demonstrates the strength of public policy and private sector confidence in the economic situation of the country.
Mexico's economic growth and improvement was the subject of a recent MexicoToday video. In it, Réal Gervais, vice president of Bombardier - a leader in the aerospace industry - explains why they chose to contribute money to Mexico and how the Mexican government went above and beyond to establish the proper infrastructure for an aerospace park and invested in an Aerospace University.
Scotiabank Siemens, Coca-Cola, as well as Tom Donohue of the U.S. Chamber of Commerce and former U.S. Trade Representative Carla Hills, praised Mexico's economic stability and investment in education.
One-hundred forty four countries were analyzed by the World Economic Forum to determine their competiveness with hard data and surveys.
The twelve pillars of competitiveness are used as the basis for evaluation. This includes institutions, infrastructure, macroeconomic environment, health and primary education, higher education and training, goods market efficiency, labor market efficiency, financial market development, technological readiness, market size, business sophistication and innovation.
For the past two years, Mexico has excelled in nine of the twelve categories, including a 35-position increase in financial market development and twenty-three positions in business sophistication.