Portugal and Czech Republic are the best locations for nearshoring supply chains, according to Savills.

The consultancy's 2024 Nearshoring Index, which ranks 26 countries around the globe on factors that may be important to occupiers looking for new locations to shorten or diversify their supply chains, says the two European nations come out at the top of the list. This is due to their attractive resilience, economic cost, business environment and ESG performance.

Poland and Sweden also make it into the top five rankings on the index, as does Japan. Canada, in seventh place, is the best place to nearshore in the Americas.

According to Savills, traditionally low-cost hubs were the largest beneficiaries of the original wave of offshoring, as occupiers prioritised cost, but with the impacts of supply shocks and an increased focus on ESG performance, many are now weighing other factors in their decision-making process, although “budgets are still a major