Mexico Falls Six More Places in the Global Competitiveness Report

Mexico fell six places to rank #61st, between Hungary and Rwanda, in the just released Global Competitiveness Report 2014 – 2015 from the World Economic Forum. The report noted:

In spite of the drop of six places, Mexico (61st) has adopted important structural reforms in the past year. This fall in the rankings is driven by a deterioration in the perceived functioning of institutions (102nd); the quality of an education system that does not seem to deliver on the skill set that a changing Mexican economy requires; and its low level of ICT uptake (88th), which is crucial for this transformation. In addition, the results show that the benefits of the many adopted reforms intended to increase the level of competition and efficiency in the functioning of Mexico’s markets have not yet materialized, highlighting the need for effective implementation that should not be delayed. Recently some changes have been observed, notably in the telecommunications market. As more of these results start to become evident, the country will increase its competitiveness edge. In this process of improvement, Mexico can continue counting on its traditional strengths: its relatively stable macroeconomic environment(53rd), its large and deep internal market that allows for important economies of scale (10th), reasonably good transport infrastructure (41st), and a number of sophisticated businesses (58th), which is uncommon fora country at its stage of development.

The Global Competitiveness Report 2014 – 2015 report can be downloaded on the World Economic Forum’s website.

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