- Singapore, Denmark and the United States are the best places to do business in the world, according to the Economist Intelligence Unit's Doing Business rankings.
- EIU rankings are measured based on indicators such as inflation, cost of living, economic growth, and fiscal policy.
- Notable “significantly improved countries” that scored high on the index included countries such as Greece, Qatar, and India.
Singapore, Denmark and the United States are the best places to do business in the world, according to the Economist Intelligence Unit's Doing Business rankings.
“Singapore will continue to be the best region 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.
He said the Southeast Asian country's status as a leading business destination is due to political stability and the government's focus on helping domestic private companies improve their skills.
The EIU rankings assess the attractiveness of doing business across 82 countries and territories and are measured based on indicators such as inflation, cost of living, economic growth and fiscal policy.
The indicator also provides insight into which economies are better positioned for growth relative to others, making it an “effective way to identify where increases in investment spending will come in the near term.” EIU analysts said.
top 10 countries
After Singapore, Denmark and the United States came in second and third place respectively.
Roy said Denmark has “solid macroeconomic fundamentals” and high-quality transport and digital infrastructure, making it one of the world's most attractive business locations.
Market opportunities in the United States remain favorable, he added, particularly as there are few restrictions on trade with or investment in the United States.
“Singapore, Denmark and the US are expected to have the best business environments over the next five years,” the report says.
Germany and Switzerland took fourth and fifth place, with Canada, Sweden, New Zealand, Hong Kong and Finland making up the rest of the top 10 best places to do business in the world.
“These countries tend to be safe investments as they are all developed countries and have long performed well in our index,” the report said, but their overall GDP growth and 1. It warns that GDP per capita growth rates are expected to remain stable and relatively slow. .
Countries making the biggest improvements
Notable “significantly improved countries” that scored high on the index included countries such as Greece, Qatar, and India.
According to the report, Greece saw the biggest improvement in business confidence on the EIU index due to reforms brought in by a pro-business government.
Free-market reforms promised by Argentina's President Javier Millay to foster private enterprise and attract foreign investment have seen the country's ranking improve sharply, improving to second place in the country's business climate.
“India is the only single market that offers scale potential comparable to China,” the report said, adding that the country's youth profile bodes well for its workforce and future demand. added. India ranked 3rd in the list of most improved business environment.
