Nearshoring, Hispanic Leadership, and U.S. Global Competitiveness

Global supply chains are undergoing a structural transformation as firms increasingly prioritize resilience, economic security, and regional integration. Driven by rising labor costs abroad, geopolitical tensions, and vulnerabilities exposed by global crises, this change offers Latin America a historic long-term economic opportunity to position itself as a key nearshoring destination for the United States by leveraging its geographic proximity, cultural and linguistic ties, and aligned time-zones.

Building on discussions that emerged from a February 2026 Aspen Conexión convening, A New Era for Cross-Border Collaboration: Hispanic Business Leadership and U.S. Global Competitiveness, this white paper examines how Hispanics in the U.S. can leverage this opportunity to serve as a critical link in facilitating cross-border trade in the Americas and promoting the integration of hemispheric supply chains.

Additionally, this publication explores how Latin America can strengthen its long-term competitiveness through the TIGHT Framework (Technology, Infrastructure, Geopolitics, and Harnessed Talent) developed by thought-leaders Jerry Haar (Executive Director for Latin America & Caribbean at Florida International University’s College of Business), Ricardo Ernst (Baratta Chair in Global Business at Georgetown University), and Santiago Gutierrez (2017 Vidanta-Wilson Fellow and CEO of Editora Latin Trade) and highlights policy and investment priorities that are necessary to maintain long-term economic gains.

This white paper finds that Latin America’s competitiveness depends on more than just low labor costs and attracting manufacturing investment. Sustained regional growth requires modernizing renewable energy grids and digital infrastructure, transportation corridors, enforcing transparent trade agreements, workforce development, and fostering deeper business ecosystems capable of integrating small and medium enterprises into regional and global value chains.

Furthermore, a central theme we posit is that the Hispanic population of the United States and Latin America are uniquely positioned to reinforce the TIGHT drivers.

Hispanic leaders and business professionals present a competitive advantage by leveraging their biculturalism, diaspora networks, and cross-border relationships to facilitate trade and investment, strengthen supply chains, and connect different stakeholders – effectively bridging markets in the United States and Latin America. The Hispanic communities on both sides provide the skilled workforce, entrepreneurial capacity, and networks necessary to enhance long-term competitiveness in the region.

To fully capitalize on nearsharing opportunities, success will depend on sustained coordination and collective action across governments, private sector investors, development finance institutions, small and medium enterprises, academia, associations and other regional stakeholders. Each has a specific role in ensuring that the Western Hemisphere strengthens public-private collaboration and attracts long-term investment, including mobilizing private capital through blended finance and modernizing workforce development systems. Policymakers and business leaders must leverage Hispanic leadership and intentionally invest in cross-border networks as strategic assets that advance economic integration and ensure long-term competitiveness across the Americas.