Singapore tops the list in the Economist Intelligence Unit’s business environment 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 environment rankings.
“Singapore will remain the best geography in the world for doing business, as it has for the past 16 years,” Prianthi Roy, EIU’s head of country forecasting and Europe analyst, told CNBC.
The factors that make the Southeast Asian country a leading business destination are its political stability and the government’s willingness to help domestic private sector companies upgrade technologically, he said. she explains.
The EIU ranking assesses the attractiveness of doing business in 82 countries and territories and is measured based on indicators such as inflation, cost of living, economic growth and fiscal policies.
The indicator also provides insight into which economies are better positioned for growth than others, and is “an effective way to identify sectors where a surge in investment spending may soon occur,” analysts at the EIU.
Top 10 savings
Behind Singapore are Denmark and the United States, which occupy second and third place, respectively.
Denmark, with its “strong macroeconomic fundamentals” and high-quality transport and digital infrastructure, presents itself as one of the most attractive business locations in the world, Roy said.
Market opportunities will remain favorable to the United States, particularly with few restrictions on foreign trade and investment in the United States, she added.
“Singapore, Denmark and the United States are expected to benefit from 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 make up the rest of the top 10 best places in the world to do business.
“These are all advanced economies and long-time performers in our index, so they tend to be safe bets for investments,” the report said, while warning that overall and per capita GDP growth rates will remain probably stable and relatively slow. .
Countries with the greatest improvements
Some countries like Greece, Qatar and India performed well in the index.
Greece saw the biggest improvement in the business climate according to the EIU index, thanks to reforms put in place by a business-friendly government, according to the report.
Free market reforms promised by Argentine President Javier Milei, aimed at boosting private enterprise and attracting foreign investment, have propelled the country to become the second most improved business environment.
“India is the only domestic market that offers comparable potential to China,” the report said, adding that the country’s young demographic profile bodes well for its workforce and future demand. India ranks third on the list of most improved business environments.
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