1) faster switching then IP as IP Forwarding is based on IP routing table search each address is 4 octets length and can cause some time to calculate
2) Core free from BGP as the MPLS is based on label switching there is no need any more for core routers to participate in the BGP network and only Edge routers need to be BGP aware. this is a huge memory and utilization saving.
3) MPLS TE Traffic Engineering is one of the major benefits as it is allowing you to have better path selections and it have a very good mechanism called FRR Fast ReRouting and this is allowing to re-route traffic from and unavailable router in a really fast speed of less then 50ms, and this is allowing us to build a stable and reliable Data and VoIP Network as you know less then 50ms loss will still keep the Voice Call Up, if it is more then that the call will be dropped. so this feature allows us in a good planed network to give us near PSTN solution.
4) MPLS VPN is another major benefit as it is reducing manageability and introducing simplicity to the client. before if the client wanted to create a VPN for his offices network he needed to either create tunnels between all his offices creating a lot of configuration and complex design when there are more then 4 branches or he needed to ask the provider to create all this VPN's and relay on his network design. but with MPLS VPN he simply need to make a Connection between his Customer Edge Router and Provider Edge Router.