He Mexican Institute for Competitiveness (IMCO) has published his State Competitiveness Index (ICE) 2024evaluating the performance of Mexico’s 32 entities in terms of attraction, generation and retention of talent and investment.
This State Competitiveness Index, which carries 18 years in the makingclassifies Mexican entities using 50 indicators grouped into six subindices.
Main results:
This year’s results show a Mexico City leading in competitivenesswhile Oaxaca is positioned in last place, reflecting very low competitiveness.
According to ICE 2024, 14 entities have improved their position, ten have fallen and eight have remained stable.
This year, the State Competitiveness Index reveals how regions are recovering from the effects of the pandemic and facing new challenges for the design of effective public policies.
The Infrastructure subindex showed significant improvements in areas such as mobile telephony, internet access, point-of-sale terminals, use of mobile banking, savings capture and air passenger flow, evidencing an increase in economic activity and mobility.
However, the Society and Environment subindex reflects a worsening in key indicators such as sewage treatment, morbidity from respiratory diseases, educational coverage, infant mortality and medical and nursing personnel. These data underscore the urgent need for corrective action in these areas.
The study highlights how certain entities are distinguished in different subindices:
Innovation and Economy: Chihuahua stands out for its high level of exports and economic complexity.
Infrastructure: Mexico City stands out for its connectivity and advanced financial services.
Work market: Mexico City also shows strong results in average income and educational levels.
Society and Environment: Mexico City and Hidalgo show extremes in the availability of medical services and life expectancy.
Right: Coahuila is notable for its low crime rate and high perception of security.
Political System and Governments: Yucatán leads in regulatory improvement and perception of low corruption.
Furthermore, IMCO proposes several strategies to boost local competitivenesssuch as designing local policies to attract investment focused on nearshoringpromote digitalization to improve access to the internet and telecommunications services.
Furthermore, the State Competitiveness Index recommends link industries with educational institutions to promote STEM skills, and improve public debt management to finance local productive projects.
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