Global Champions of Law: Mexico

23 Jul Global Champions of Law: Mexico

Mexico’s economy was hit heavily during the pandemic, shrinking by 8.5% in 2020–its largest fall since the 1930s. To combat the loss in funds, the government has made swift regulatory changes in an attempt to bolster the economy, such as pushing to nationalize its energy industry.

Due to this sudden turn in politics, Mexico’s legal services companies have had to be quick on their feet to lead international players forward. Although uncertainties remain for the future of foreign direct investment into the country, Mexico jumped into the top ten countries in the world for collecting outside investments in 2020. Similarly, government changes to public salaries saw a huge drain of lawyers from state-run departments to the private sector. Mexico’s industry is also rapidly changing, with a strong rise in digital technology companies–especially in fintech–introducing new legal hang ups and necessary reforms.

As the country moves towards a post-pandemic period, the importance of legal consulting for all levels of society is imperative if the country wants to remain relevant on the world stage.