Nearshoring to Mexico is gaining traction among shippers at a rapid rate. To keep up with the demand, Mexico will open 25 new industrial parks by the end of 2023, spurred by the $35 billion in total foreign direct investment from 2022. On top of that, 88% of US-based small and medium-sized businesses are reshuffling their supply chains to utilize suppliers in Mexico this year. Nearshoring will continue growing well into 2024, and if shippers aren’t already considering this strategy, they risk falling behind in the market.
So, what do they need to know to navigate the nearshoring resurgence? This guide explores the challenges that shippers must consider before plugging nearshoring into their operations.