<p>This study examined how territorial attractiveness shapes the geography of foreign direct investment (FDI) across Mexican states in a context of global production shifts, including reshoring and nearshoring dynamics. Using an Organisation for Economic Co-operation and Development (OECD)-based analytical framework and subnational data for 2015–2022, it evaluates the attractiveness dimensions that shape the spatial distribution of foreign direct investment (FDI). The analysis provided insights into the uneven geography of foreign investment in a country that has become a strategic destination amid North American supply chain realignment. While Mexico can benefit from reshoring dynamics, not all of its regions are equally positioned to gain from these global shifts. The results revealed sharp territorial contrasts: some regions were well positioned to capitalise on these opportunities, whereas others—especially those historically marginalised—remained behind. In conclusion, the study underscores both the potential and the limitations of international relocation as a tool for balanced regional development and calls for more deliberate strategies to promote inclusive territorial integration. This will contribute to debates on regional disparities, FDI geography, and the restructuring of global value chains in emerging economies.</p>