Singapore tops the Economist Intelligence Unit’s ease of doing business rankings.
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Singapore, Denmark and the United States are the best places in the world to do business, according to the Economist Intelligence Unit’s business climate rankings.
“Singapore will continue to be the best place in the world to do business, as it has been for the past 16 years,” EIU country forecast manager and European analyst Prianthi Roy told CNBC.
Factors driving Southeast Asian countries to become prime business destinations are political stability and government Focus on helping domestic private enterprises to upgrade their technologyshe says.
The EIU rankings assess the attractiveness of 82 countries and regions for doing business and measure them based on indicators such as inflation, cost of living, economic growth and fiscal policy.
Analysts at the Economist Intelligence Unit said the indicator also provides insights into which economies are better positioned for growth than others and “an effective way to identify investment spending that may soon increase”.
Top ten economies
After Singapore, Denmark and the United States ranked second and third respectively.
Roy said Denmark’s “solid macroeconomic fundamentals” and high-quality transport and digital infrastructure make it one of the most attractive business locations in the world.
She added that market opportunities in the United States remain favorable, especially with few U.S. foreign trade and investment restrictions.
“Singapore, Denmark and the United States are expected to have the best business environments over the next five years,” the report said.
Germany and Switzerland ranked fourth and fifth, while Canada, Sweden, New Zealand, Hong Kong and Finland rounded out the top ten best places to do business in the world.
“These are developed economies with strong long-term performance in our index and therefore tend to be safe bets for investment,” the report noted, but warned that overall GDP growth and per capita GDP growth are likely to remain stable and stable. Relatively slow.
The most improved country
Some noteworthy “big improvers” with high scores in the index are countries such as Greece, Qatar and India.
The report shows that Greece has seen the largest improvement in business conditions in the Economist Intelligence Unit index due to reforms implemented by a pro-business government.
Argentine President Javier Milley’s pledge of free-market reforms aimed at boosting private enterprise and attracting foreign investment has boosted the country’s ranking, making it the second-most improved business environment.
“India is the only single country market with a potential size comparable to that of China,” the report noted, adding that the country’s youthful demographics bode well for its workforce and future demand. India ranks third on the list of most improved business environment.
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