Savills Nearshoring Index names top destinations for industrial occupiers looking to shorten supply chains

Portugal and the Czech Republic in Europe, Japan and Singapore in Asia, and Canada in the Americas are the best locations in their respective regions for industrial occupiers looking to nearshore supply chains, according to Savills.

Savills 2024 Nearshoring Index ranks 26 countries on the factors that may be important to occupiers looking for new locations to shorten or diversify their supply chains and/or reduce their reliance on foreign imports. These factors include their resilience, economic cost (including rents, energy and labor costs), business environment and ESG performance. The top five locations overall are Portugal, Czech Republic, Poland, Sweden and Japan, although Savills says that depending on occupiers’ individual priorities, other locations further down the index may be preferred, such as those where costs may be higher but have stronger environmental credentials and a better business environment, while others may perform exceptionally well but only in one