MEXICO Trends and Developments Contributed by: Javier Domínguez, Santiago Carrillo and Gabriel Torres, Ritch Mueller
can industrial parks. For instance, at the begin - ning of 2025, Banco de México reported that foreign direct investment in Mexico increased by 1.1% in 2024 compared to 2023. Nevertheless, foreign direct investment from new investors decreased by 34% in 2023, and reinvestments increased by 7.8% in 2024. In 2024, the United States maintained its position as the leading source of foreign direct investment, accounting for 45% of all foreign direct investment, followed by Japan (12%), Germany (10%), Canada (9%) and the Netherlands (5%). An analysis by the Inter-American Development Bank (IDB) recognises Mexico’s advantageous position. The IDB estimates that nearshoring will increase global exports from Latin America by USD78 billion in the short and medium term, with 45% of this increase coming from Mexico. In the private sector, BBVA Research, along with the Asociación Mexicana de Parques Industriales Privados, A.C. (AMPIP), conducted a survey to quantify and anticipate the effects of nearshor - ing in Mexico. According to that research, BBVA Research and AMPIP concluded, among other findings, that since the start of the US–China trade war in 2018, private industrial parks in Mexico have attracted approximately 830 new foreign tenants, 20% of which come from Asian countries. CBRE, a US company specialising in the real estate sector, reported that in Mexico, during 2024, demand for real estate result - ing from relocation exceeded 2 million square metres, with the automotive industry accounting for 39% of this demand, followed by household appliances and electronic devices. In the 2025 Pre-Criteria presented by the Min - istry of Finance and Public Credit (SHCP), pre - sented a year before publication of this guide (May 2025), the SHCP pointed out that the new
global trends in technology and commercial exchange, together with new productive chains generated by the relocation of companies, would allow Mexico to position itself in the global sup - ply chain, benefiting both sectors traditionally integrated with the US, as well as new sectors that develop under the new nearshoring para - digm. By the end of 2024, once the possibility of a second presidency by Donald Trump in the Unit - ed States had become a reality, foreign direct investment plummeted by 45.3% annually in the last quarter, according to data from the Ministry of Economy ( Secretaría de Economía ). Alejandro Padilla, Chief Economist of Banorte, has established that 2025 is shaping up to be a year of uncertainty and economic opportunities, primarily driven by tariffs that could influence the sentiment of businesspeople, the performance of the economy, and the design of public poli - cies. In the same vein, Katia Goya of Economía Internacional has stated that among the trade tensions that will intensify the economy are pro - tectionist measures and the implementation of tariffs, which, if fully materialised, could lead to a scenario of lower global growth, higher unem - ployment, and inflationary pressures. Regarding the increase in demand from Asian countries for profitable spaces to establish pro - duction chains in Mexico, in late 2023, AMPIP officials reported that just over 40% of the demand increase from 2022 to 2023 came from Chinese companies. Overall, AMPIP reported that the total number of private industrial park tenants increased by 52% from 2019 to 2022. As AMPIP points out, many companies opting for nearshoring strategies are looking to establish themselves in new industrial parks. To meet the demand for new parks, several market players
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