10 Best Countries for Business

I always find country rankings an interesting and informative read especially when Canada is well represented. I’ve explored this topic previously in blog posts like the best country to live, smartest countries, the happiest countries, the  most peaceful countries, the most sustainable countries, the friendliest countries, the most charitable countries, the most prosperous countries, the best countries for quality of life, the best countries for business, the top countries for life expectancy, the best countries for working women, the best country for world travel & tourism, the best countries for human development, the top countries for Clean Capitalism, the best country for child well-being, the best countries from social progress, the best countries for higher education, the most popular countries, the least corrupt countries, the best countries for paid vacation days, the countries with the best reputation, the best countries for global professionals, the best countries for ease of doing business and the best countries for starting a business. Today, I’ll be adding to this list with the 10 best countries for business according to Forbes Magazine.

Forbes, one of the world’s leading sources for reliable business news and financial information, based this list on grading “141 nations on 11 different factors: property rights, innovation, taxes, technology, corruption, freedom (personal, trade and monetary), red tape, investor protection and stock market performance.” According to Forbes methodology, the 10 best countries for business are:

1. New Zealand: GDP: $162 billion; GDP per capita: $39,300; and Public debt as % of GDP: 36%. New Zealand received four first place rankings in the categories of red tape, investor protection, corruption and personal freedom.
2. Denmark: GDP: $333 billion; GDP per capita: $59,684; and Public debt as % of GDP: 44%. Denmark’s highest score was a first place finish in personal freedom.
3. Hong Kong: GDP: $244 billion; GDP per capita: $34,457; and Public debt as % of GDP: 30%. Hong Kong’s best score was first place in trade freedom.
4. Singapore: GDP: $240 billion; GDP per capita: $46,241; and Public debt as % of GDP: 118%. Like Hong Kong, Singapore’s best score was first place in the category of trade freedom.
5. Canada: GDP: $1.7 trillion; GDP per capita: $50,345; and Public debt as % of GDP: 87%. Canada received one first place score when it came to personal freedom.
6. Ireland: GDP: $217 billion; GDP per capita: $48,423l and Public debt as % of GDP: 105%. A first place ranking in personal freedom was where Ireland received their best score.
7. Sweden: GDP: $538 billion; GDP per capita: $56,927; and Public debt as % of GDP: 38%. Sweden’s best categories were technology and personal freedom where they received first place scores.
8. Norway: GDP: $486 billion; GDP per capita: $98,102; and Public debt as % of GDP: 58%. Like many others on the list, Norway’s only first place score was in personal freedom.
9. Finland: GDP: $266 billion; GDP per capita: $49,391; and Public debt as % of GDP: 49%. Finland received first place scores in both personal freedom and innovation.
10. United Kingdom: GDP: $2.4 trillion; GDP per capita: $38,818; and Public debt as % of GDP: 86%. The United Kingdom’s best score was first place in the category personal freedom.

The United States ranked twelfth on this Forbes’ list. The information that this list highlights is useful to governments and businesses alike. For business this is information that could help with future development planning if they are considering opening, expanding or relocating. For governments this highlights what the country’s strengths and weaknesses are and where they need to improve to remain competitive.

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