Remove 2020 Remove Labor Costs Remove Nearshoring
article thumbnail

Nearshoring to Mexico & The Advantages of the IMMEX Program

Ivemsa

Nearshore manufacturing has remained a hot topic over the past decade, particularly rising in popularity post-pandemic. Since 2020, a rising number of companies have begun to diversify their portfolios or completely move their outsourced operations from China to Mexico. The close proximity to the U.S., manufacturers.

article thumbnail

Preparing for the Advancement of Nearshoring to Mexico

Ivemsa

billion USD in 2020. This program allows foreign manufacturers exemption from the 16% VAT tax on temporarily imported goods and materials, making it one of the key advantages incentivizing nearshoring to Mexico for foreign operators. One of the biggest advantages of nearshoring to Mexico is the highly-skilled, cost-effective workforce.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Exploring the Advantages of Mexico’s IMMEX Maquiladora Program

Ivemsa

from 1993-2020. These numbers exemplify the security and growth of nearshore manufacturing in Mexico and how the IMMEX maquiladora industry has continued to thrive. When compared to the industrial labor shortage and increasing labor costs in the U.S., In fact, the U.S.

article thumbnail

Konecta-Comdata Merger Creates a Business Process Outsourcing (BPO) Giant – What Does it Mean for the CXM Market?

Everest Group

The new company will enjoy the advantage of Konecta’s strong dominance in the Spanish market, where Konecta has been aggressively expanding in the past few years, especially by acquiring four different Spanish companies that were part of the Rockethall Group in 2020.

article thumbnail

Manufacturing in Mexico: 5 Benefits to Consider

Ivemsa

In 2020, the updated USMCA was enforced, favoring trade within North America. Bureau of Labor Statistics, retaining an older workforce equals higher labor costs for those who do work beyond retirement age. USMCA Provisions. There are fewer workers available and willing to take industrial jobs. And, according to the U.S.

article thumbnail

3 Key Factors Benefiting the Growth of Manufacturing in Mexico

Ivemsa

From 1993-2020, bilateral trade between the U.S. Not only is there more qualified and available talent, the labor costs in Mexico are also lower than industrial wages in both the U.S. Reliable, Cost-Effective Supply Chain. and Mexico has grown by 482% with Mexico serving as the second largest export market for the U.S.

article thumbnail

Why Do Companies Outsource Software Development?

3Pillar Global

Another survey , CGS’ 2020 Business Process Outsourcing Trends (which covers IT/software projects, including accounting or manufacturing and beyond), found that 45% of executive respondents cited improving the customer experience as their primary motivation for outsourcing, while 36% said it was cost-cutting.