A statement on the FMF website said that its withdrawal was based on “the global economic environment and the investment that would be required in infrastructure."
"The foreseeable outlook regarding the global economic environment does not allow the country's authorities – neither at federal nor local government level – to commit funds towards the necessary works required by an event of this magnitude," read the statement.
"In Mexico we do have a sufficient number of stadiums to stage the contest, but the majority of these were built several years ago to meet old FIFA requirements."
The withdrawal of Mexico - which has twice staged the World Cup in 1970 and 1986 - leaves Australia, Belgium and the Netherlands, England, Indonesia, Japan, South Korea, Spain and Portugal, Qatar, Russia and the United States as candidates for the tournaments.
FIFA will vote on the host nations for 2018 and 2022 World Cups in December.
