Nearshoring — also called reshoring, onshoring, inshoring or backshoring — is helping drive Mexican stocks higher this year. The iShares MSCI Mexico ETF is up more than 25%, higher than both the S & P 500, which is higher by 15%, and the iShares MSCI Emerging Markets ETF, ahead just 4%. EWW YTD mountain IShares MSCI Mexico ETF year-to-date. For U.S.
The need for 'secondary cities' Companies seeking to reshore their operations in Mexico are scouting for space in the northern part of the country, close to the border of the United States. Monterrey , the city chosen for a Tesla plant , is one such industrial hub. However, Artisan Partners' Nace said much of the region is completely built out, unlike southern Mexico, usually a destination for tourists. That makes it difficult for companies to establish a base of operations.