Cautionary Expansion Plans Amidst Complex Events
In a climate marked by complex and disruptive events, companies are cautious about expanding their operations across Mexico. However, they continue with projects primarily focused on the manufacturing corridor, which connects entities from the north to the Bajío, according to findings from KPMG’s study titled “Perspectiva de la Alta Dirección en México 2026”.
Key Regions for Expansion
In an interview with El Economista, Ricardo Delfín, the leader of KPMG México’s Clients and Market sector, explained that five entities within the corridor remain the most attractive for companies’ operational expansion plans (to open new factories or launch new investment plans).
- Ciudad de México: 35%
- Nuevo León: 31%
- Estado de México: 29%
- Jalisco: 27%
- Querétaro: 24%
These five entities, which account for the majority of GDP contribution, have been the focus of expansion plans for the past two to three years. This trend is also linked with the federal government’s plans to stimulate development poles, Delfín added.
Shifting Priorities in 2026
Compared to the 2025 study, the top five entities remain unchanged; however, their positions have shifted. In 2026, the order is now Ciudad de México (35%), Nuevo León (38%), Estado de México (31%), Jalisco (30%), and Querétaro (25%).
Investment Intentions
According to the 2026 report, 42% of executives surveyed in Mexico plan to expand their operational presence nationally. Although this represents a variation from 2025, Delfín explained that these fluctuations do not indicate an increase in investment appetite, as investors await the definition of rules in the US-Mexico-Canada trade relationship (T-MEC).
Reasons for Investing in Mexico
The primary reasons for investing in the country are opening new markets (57%) and strategic location (51%).
Less Optimistic Outlook for Global Expansion
Despite 65% of companies planning new investments nationally in 2026, the enthusiasm is lower when it comes to expanding within Mexico (42%) and even less so for global investment (19%). This cautious approach is evident when companies consider opening new operations nationally, with a more reserved optimism compared to other investments.
Awaiting More Certainty
Many investment plans are on hold, awaiting more clarity in North American integration and a potential review of the T-MEC.
Complex Scenario Expected to Continue in 2026
Delfín anticipates that the complex scenario characterized by geopolitical disruptions and business environment challenges in 2025 will persist into 2026. The study reflects that organizations are recognizing the importance of adapting to a changing world.
The 2025 survey, part of “Perspectiva de la Alta Dirección en México 2026,” was conducted between November and December 2025, involving 554 participants primarily from C-level or higher positions in manufacturing, service, and other companies.
Key Questions and Answers
- Q: What regions are most attractive for company expansion in Mexico?
A: The top five entities are Ciudad de México, Nuevo León, Estado de México, Jalisco, and Querétaro.
- Q: How has the investment outlook changed for national expansion in 2026 compared to 2025?
A: While 42% of companies plan to expand nationally in 2026, this represents a variation from 2025. However, these fluctuations do not indicate an increase in investment appetite due to uncertainty surrounding the US-Mexico-Canada trade relationship.
- Q: What are the primary reasons for investing in Mexico?
A: Companies are drawn to Mexico for opening new markets and its strategic location.
- Q: How optimistic are companies about global expansion in 2026?
A: Only 19% of companies surveyed plan to expand their global presence in 2026, a decrease from 29% in 2025. This less optimistic outlook is partly due to the awaited clarity in North American integration and potential T-MEC review.
