Competitiveness Index 2024: A Spotlight on Mexico’s Top Regions for Growth and Investment

The Mexican Institute for Competitiveness (IMCO), an independent think tank that produces research and public policy analysis to improve Mexico's standing in the global economy, has released its 2024 Urban Competitiveness Index, spotlighting cities excelling in innovation, governance, and economic development. Among the standout regions are Querétaro, Monterrey, Chihuahua, Ciudad Juárez, and Guadalajara, key areas where American Industries operates.

Querétaro: A Hub for Innovation and Skilled Labor

Querétaro remains in the top ten in this year’s rankings, reflecting its strong focus on innovation and industrial growth. The city is recognized for its dynamic industrial ecosystem, with thriving clusters in sectors like aerospace, automotive, and IT. Supported by a highly skilled workforce and a well-established network of educational and research institutions, Querétaro offers an environment that fosters collaboration and high-value development. Its strategic location and mature supply chains make it an attractive destination for businesses seeking efficiency and resilience.

Monterrey: A Consistent Industrial Powerhouse

Monterrey’s ranking as the third most competitive city reflects its established industrial strength and strategic advantages. Known for its thriving industrial base, the city attracts global companies, highlighting its ability to support diverse industries with a steady flow of highly qualified professionals from its many world-class universities.

Monterrey’s proximity to the U.S. border, combined with a mature supply chain infrastructure, positions it as a premier destination for nearshoring and international business operations. Its proven capacity to foster investment and innovation solidifies its role as a leader in competitiveness. The city also hosts major global companies like Caterpillar, KIA, and Schneider Electric, showcasing its ability to attract and retain international investment.

Ciudad Juárez: Mexico’s Manufacturing Hub

Ciudad Juárez, which moved from 13th to 10th place this year in the ranking, is a cornerstone of Mexico’s manufacturing industry, renowned for its advanced maquiladora system and highly skilled workforce. The city plays a critical role in industries such as automotive and medical devices, offering diverse production capabilities. With forward-thinking initiatives like “Chihuahua Futura” and investments in facilities such as the Artificial Intelligence Center, Ciudad Juárez is driving innovation and expanding its reputation as a leader in advanced manufacturing.

​​Chihuahua: A High-Tech Innovation Leader

Chihuahua moved up one spot to 5th place this year with its focus on high-tech innovation and the development of technology-driven industries. The region leverages collaborative initiatives like the Center for Innovation and Integration of Advanced Technologies to advance areas such as Industry 4.0 and electromobility. With its proximity to the U.S. border and strong emphasis on partnerships between government, academia, and private companies, Chihuahua continues to attract nearshoring opportunities and foster industrial growth.