Today, the World Economic Forum (WEF) published the Global Competitiveness Report 2015-2016. This report includes a Global Competitiveness Index (GCI), which evaluates the performance of 140 economies.
In this edition, Mexico advanced four places in the global ranking, going from position 61 to 57. Of the twelve pillars of analysis that make up the index, our country improved its position in eight, remained the same place in one and fell in three (chart is attached below).
In his analysis of Mexico, the WEF points out that the progress in its position is due to improvements in the efficiency of its financial markets, business sophistication and promotion of innovation; and that the structural reforms are bearing fruit, even though there are still major challenges for public and private institutions and labor flexibility.
With regard to the BRICS (States with emerging economies), Mexico beats Brazil, located at position 75; while China, Russia and India were located at positions 28, 45 and 55, respectively.
In Latin America, the position of our country is superior to that of Colombia and Peru, which were placed in places 61 and 69, respectively, but lower than that of Chile, which remains the best positioned country in the region to settle in position 35.
The rating recorded for Mexico reflects the views expressed by the business community in the Survey of Business Opinion raised by the WEF between March and May 2015, on multiple factors related to the competitiveness of our country.
The survey is part of the 70% of the Index data, while the remaining 30% is derived from figures published by international organizations. With 311 answered surveys, Mexico remains the third country with the largest participation in the exercise, only surpassed by the United States and China.
