The industrial phenomenon called nearshoring represents great opportunities for northern Mexico due to the health of its market, which despite the current contingency remains resilient and optimistic, said Lyman Daniels, president of CBRE Mexico and Colombia.
This concept is explained as follows. In the global context of the economy, the great industrial powers resort to nearshoring and offshoring practices that consist of transferring certain parts of their production processes to third countries in order to reduce costs, mainly labor.
For decades, some of the favorite destinations for these practices have been Southeast Asia and Latin America. The most characteristic examples are China and India.
The main nearshoring markets during 2020 were Monterrey Tijuana and Querétaro. The first concentrates 50% of the occupied space of this type. The capital of Nuevo León is the most attractive market for nearshoring due to its diversified industry and proximity to the United States.
During 2020 the main nearshoring industries were furniture (23%) followed by household appliances and electronics (20%), medical equipment (15%), machines and tools (14%) and auto parts (12%). Most of the gross demand in m2 comes from companies in the United States and China, according to CBRE.
