Although the Mexican economy has yet to return to its pre-pandemic level, a five per cent annual growth rate was recorded in 2021. The main economic challenges for Mexico in 2022 will be to relaunch investment and increase productivity. In an effort to boost economic growth, President Andrés Manuel López Obrador has promised further spending on public-private sector partnerships.
A vast majority of the Swedish companies surveyed express optimism over future prospects – 80 per cent expect that turnover in their industries will increase. Many Swedish companies are eyeing increased investments in Mexico in 2022. Almost half of the surveyed companies say that they will increase their investments within the next 12 months.
The main advantages of doing business in Mexico according to Swedish companies are access to specialists & key personnel, service providers, suppliers, and distributors. On the other side of the spectrum, the key challenges that Swedish companies face when doing business in Mexico are related to personal safety, legal certainty, transparency, fair treatment, licenses, permits and approvals.
In Mexico, Swedish companies are typically associated with innovation and technical solutions. They are also viewed as taking transparency seriously. For a government set on improving transparency amid pervasive corruption, this is an important fact. According to 70 per cent of respondents, the “Swedish brand” contributes greatly to the success of their businesses.
Please download the report to fully overview the results with a detailed analysis.
ABOUT THE SURVEY
The Business Climate Survey is a tool developed to map the opportunities and challenges that Swedish companies face when doing business in Mexico. This report presents the conclusions drawn from the survey and an analysis based on the current business situation, economic outlook, as well as other market aspects believed to be relevant for companies operating or planning to establish themselves in Mexico.
This is the 11th edition of the Business Climate Survey with Swedish companies in Mexico, carried out in April 2022. The survey was sent to 60 Swedish companies established in Mexico, of which 44 responded, representing a participation rate of 73 per cent.