Mexico races ahead as Innovator in World Economic Forum Global Competitiveness Report

Once a developing country but now a rising star, Mexico is penning down a new history. The country's economic improvement is commendable and this has brought in laurels for the country.  Adding another feather of success is the leap achieved in terms of ranking in the innovation list.

Mexico Races Ahead as Innovator, Says World Economic Forum Report

The World Economic Forum Global Competitiveness Report states the Mexico has raised thirteen positions in the rankings of innovation in the last two years. Mexico ranks 53rd in the 2012 to 2013 report, up from 58th place in 2011 and 66th place in 2010. This demonstrates the strength of public policy and private sector confidence in the economic situation of the country.

The World Economic Forum analyzed 144 countries to determine their competiveness with hard data and surveys. The basis on which the countries were judged includes institutions, infrastructure, macroeconomic environment, health and primary education, higher education and training, goods market efficiency, labor market efficiency, financial market development, technological readiness, market size, business sophistication and innovation.

For the past two years, Mexico has excelled in nine of the twelve categories, including a 35-position increase in financial market development and twenty-three positions in business sophistication. Scotiabank Siemens, Coca-Cola, as well as Tom Donohue of the U.S. Chamber of Commerce and former U.S. Trade Representative Carla Hills, praised Mexico's economic stability and investment in education.

Mexico as an emerging market is definitely something to watch for. Making its voice heard in the international forums, this Latin American country is slowly and steadily transforming into a promising investment. Various international brands are investing in Mexico for greater returns. According to Playa Best Buy site, development projects are mushrooming in the country providing the option of luxury living within an affordable budget. These improvements are not being unnoticed as the world has set their eyes on Mexico and its growth.