Mexico City was recognized as the first Latin American city of the future 2021/22 and also took seventh place in the Financial Times’ fDi Intelligence (fDi) Intelligence Unit Ranking of Economic Potential.
According to the ranking, Mexico City was once again considered the Latin American city of the future due to the fact that it received a total of 353 incoming projects from foreign direct investment (FDI), the highest number for any city in Latin America and the third highest among all cities on the continent.
Of the 353 FDI inflow projects, 68 percent were in business services or sales, marketing and support activities. In addition, the capital represents 16% of all projects in the country for the period from December 2015 to November 2020.
In the ranking were included the cities of Bogota, Colombia in second place; Sao Paulo, Brazil, is in third place. Santiago de Chile, Chile in fourth place; Queretaro, Mexico, in fifth place; Silao, Guanajuato, Mexico ranked sixth; San Luis Potosi, Mexico in seventh place; Buenos Aires, Argentina ranked eighth; San Jose, Costa Rica ranked ninth; Guadalajara, Mexico is in tenth place.
Meanwhile, in the economic potential category, the capital ranked seventh because in 2020, Netflix announced that it will move its Latin American headquarters from Sao Paulo, Brazil, to Mexico City.
It should be noted that only two Latin American cities are included in this category. First came New York City, United States; second, Toronto, Canada; 3rd, San Francisco, United States; Fourth, Montreal, Canada; V, Boston, USA; In VI, Los Angeles, United States; In VIII, Chicago, United States; In the ninth, Sao Paulo, Brazil, and in the tenth Miami, the United States.
The rankings are made through data collected by specialist tools fDi Benchmark – which assesses the relative competitiveness of countries, regions and cities worldwide in more than 65 sectors – and fDi Markets – the online database on foundational field investments. – To subsequently compare different cities according to five categories: economic potential, ease of business, human capital and lifestyle, profitability and connectivity.
In addition, it is considered a sixth category of FDI strategy that has been developed through the plans and projections of local economic development organizations and investment promotion agencies.