10 Best Countries for Business 2012

I’ve previously written posts about how Canada has ranked on global lists like the smartest countries, the happiest countries, the best countries for entrepreneurs, the best countries to live, the most competitive countries to do business, the countries with the best reputation, the  most peaceful countries, most sustainable countries and even the friendliest countries. Today, I’ll be continuing with this vein by looking at the best countries for business.

This list of the best countries for business came from Forbes and it was based 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.” Forbes relied on research and reports from the following organizations: the Central Intelligence Agency, Freedom House, Heritage Foundation, Property Rights Alliance, Transparency International, World Bank and World Economic Forum. Based on this Forbes ranking, the top ten best countries for business are:

1. New Zealand. GDP: $162 billion; GDP per capita: $39,300; Public debt as % of GDP: 36%. New Zealand moves up one from their 2011 ranking of second to earn top honours on the 2012 list.
2. Denmark. GDP: $333 billion; GDP per capita: $59,684; Public debt as % of GDP: 44%. Denmark moved up three sports from their 2011 finish of fifth.
3. Hong Kong. GDP: $244 billion; GDP per capita: $34,457; Public debt as % of GDP: 30%. Hong Kong maintained their third place status from the 2011 ranking.
4. Singapore. GDP: $240 billion; GDP per capita: $46,241; Public debt as % of GDP: 118%. Singapore moved up two positions from a 2011 showing of sixth place.
5. Canada. GDP: $1.7 trillion; GDP per capita: $50,345; Public debt as % of GDP: 87%. Canada slipped four positions from their first place ranking in 2011.
6. Ireland. GDP: $217 billion; GDP per capita: $48,423; Public debt as % of GDP: 105%. Ireland fell two spots from their 2011 position of fourth.
7. Sweden. GDP: $538 billion; GDP per capita: $56,927; Public debt as % of GDP: 38%. Like Hong Kong, Sweden maintained their spot on this list from 2011.
8. Norway. GDP: $486 billion; GDP per capita: $98,102; Public debt as % of GDP: 58%. Norway was also able to keep their eight place position from 2011.
9. Finland. GDP: $266 billion; GDP per capita: $49,391; Public debt as % of GDP: 49%. Finland moved up four positions from thirteenth in 2011 to crack the top ten with ninth place.
10. United Kingdom. GDP: $2.4 trillion; GDP per capita: $38,818; Public debt as % of GDP: 86%. The United Kingdom fell one spot from ninth in 2011 to tenth in 2012.

The United Sates came in 12th falling two places from their 10th place finish in 2011 with a GDP: $15.1 trillion, GDP per capita: $48,442, Public debt as % of GDP: 68%.

Canada is the only North American country in the top 10 however it did slide from the top of the of list which it occupied in 2011. Canada lost ground in innovation and technology and according to the World Economic Forum’s Global Competitiveness Report “Canada is being weighed down by a less favorable assessment of the quality of its research institutions and the government’s role in promoting innovation through procurement practices. However Canada remains among the best countries in the world when it comes to trade freedom, investor protection and the ease of starting a new business.”

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