In recent years, nearshoring has become a trending strategy for many businesses looking to outsource their operations to nearby countries with lower costs and favorable business environments.
Mexico, in particular, has emerged as a leading destination for nearshoring services due to its proximity to the United States, skilled workforce, and favorable business environment. And now is a nearshoring trending due the Tesla plant announced that it will open in the state of Nuevo Leon.
To capitalize on the opportunity of nearshoring in Mexico, businesses need to understand the advantages of nearshoring, as well as the solutions and strategies that can help them succeed in this competitive market.
The impact of Nearshore outsourcing to Mexico
According to the most recent data from the “Banco de México”, 16% of companies with more than 100 employees have already reported nearshoring benefits, especially in the country’s border areas.
In addition, the nearshore development could represent between 1.5% and 2.5% of the Gross Domestic Product (GDP), when quantifying only the increase in exports from the United States.
In addition, to date the historical maximum that has been reached in foreign direct investment (FDI) achieved by Mexico was 35 billion dollars in 2018. Estimates by HSBS Research indicate that this figure could be exceeded in 2023 thanks to Mexico nearshoring, reaching 40 billion.
Despite the nearshore advantages offered in Mexico, there are certain challenges that must be overcome to maximize the potential of this nearshoring trending.
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How to capitalize the nearshoring in Mexico?
To capitalize on the nearshore outsourcing in Mexico, businesses need to work with the right partners and solutions providers. This means finding nearshoring services that have experience working in Mexico and can help businesses navigate the local business environment and regulations.
Additionally, businesses should look for nearshoring solutions that offer flexible and scalable services that can adapt to their changing needs and requirements. In that way, the ally that helps nearshore companies must solve the following needs:
- Understanding the local business environment and culture: Investing in local partnerships and building strong relationships with local businesses and communities help in a great way to nearshore in Mexico. By doing so, businesses can gain the trust and support they need to succeed in Mexico’s competitive nearshoring market.
- Developing Skilled Workforce: Mexico can continue to develop its skilled workforce for nearshore development, particularly in high-demand fields such as technology and engineering. This can be done through targeted education and training programs, as well as incentives for companies to invest in workforce development.
- Stay up-to-date with the latest developments in the market: Mexico nearshoring needs to keep an eye on emerging technologies, new business models, and evolving regulations and policies. By staying informed and adaptable, businesses can position to take advantage of new opportunities and stay ahead of the competition.
Now, where can you find the strategic ally you need for your nearshoring services?
Grupo Zeu is the answer for nearshoring services!
Don’t miss out on the opportunity to capitalize on nearshoring in Mexico. Grupo Zeu helps you to start exploring your nearshore options to unlock new growth opportunities for your business.
Contact us now and star to enjoy the advantages of nearshoring!