Mexico Nearshoring Report 2022

This report elaborated by the SwissCham aims to provide an overview of the concept of nearshoring and portray the advantages of nearshoring for Swiss companies in Mexico. Due to several factors like the COVID-19 pandemic, increases in sea freight and long waiting times in international transportation, manufacturing companies have opted to relocate their value chains, facilitate integration of supply chains, and concentrate production in destinations close to final consumption. The report provides an overview on the definition of nearshoring, explains the opportunities Mexico offers for nearshoring, and analyses some key sector and industries. It then focuses on two industrial hubs in Mexico: the Bajío and the Northern region. Finally, it addresses the challenges Mexico faces and provides several examples of Swiss companies with nearshoring strategies and activities in Mexico. It contains an interview elaborated to the Director of the Swiss Business Hub Mexico.