Mexico climbs two positions this year in the global innovation index to 56th place worldwide and third in Latin America, just behind Brazil and Chile. In addition, the country ranks in the ranking of creative goods exports.

By JOSÉ ÁNGEL DE LA PAZ | EGADE BUSINESS SCHOOL

EGADE Business School—Tecnológico de Monterrey, the only Mexican institution in the Global Innovation Index (GII) Academic Network, provided significant input for the research of the 2024 global report. 

The school, represented by Horacio Arredondo, dean of EGADE Business School, and José Ernesto Amorós, associate dean of faculty, provided key knowledge and analyses for the preparation of the index. 

Amorós, who also leads Tec's Entrepreneurship and Innovation with Impact Research Group, commented: "Mexico's results in the GII reflect not only the country's potential but also the challenges we face in rethinking the future of business in Mexico and Latin America. Promoting policies and strategies that impact the region's sustainable development and strengthen our innovative capabilities is crucial. We need to improve our rule of law and regulatory framework to offer more incentives for innovation, particularly in the private sector."

In the GII 2024, Mexico ranked 56th globally, climbing two places compared to the previous year. In Latin America, the country is ranked third, just behind Brazil and Chile, establishing itself as a key player in the region's technological and creative sectors.

The report highlights Mexico's strengths in specific areas, such as creative goods exports, where it ranks 1st worldwide, and high-tech exports, in 11th place. These results underscore the country's competitiveness in high-value-added industries.

Mexico ranks 10th among 34 economies in the index for upper-middle-income economies, demonstrating its competitiveness compared to countries with similar economic characteristics. Furthermore, it stands out globally in innovation output (52nd place) compared to innovation input (73rd place), indicating that it is more efficient in converting its investments in innovation into tangible results. However, Mexico does not have any science and technology clusters in the global top 100, an area in which it could strengthen its performance.

On the other hand, Mexico displays weaknesses in some key indicators. Its lowest rankings are in Institutions, 106th place, reflecting challenges in the quality of the institutional environment; Infrastructure, 71st place, an area that requires improvement through investment; and Human Capital and Research, 63rd place, underlining the need to strengthen investment in education and scientific research.

The GII, published by the World Intellectual Property Organization (WIPO), now in its 17th edition, gauges 133 economies across the world, measuring not only technological advances but also social innovations and business models that promote sustainable and inclusive development.

View the full index here; the specific report on Mexico is available here.