Singapore has consistently been ranked as the best geography in the world to conduct business for the past 16 years. Factors such as political stability and the government’s focus on technological advancements for domestic private-sector companies have contributed to its success in attracting businesses from around the globe. The Economist Intelligence Unit (EIU) business environment ranking places Singapore at the top, emphasizing its attractiveness for investment and growth opportunities.
Following Singapore in the ranking are Denmark and the United States, which secured the second and third spots respectively. Denmark stands out for its solid macroeconomic fundamentals and high-quality transport and digital infrastructure, making it a favorable business location. The U.S. also offers promising market opportunities, with minimal restrictions on foreign trade and investment. These countries are projected to maintain strong business environments over the next five years, according to the EIU report.
Germany and Switzerland claimed the fourth and fifth positions, with Canada, Sweden, New Zealand, Hong Kong, and Finland rounding up the top 10 best places in the world to do business. These advanced economies are known for their stability and strong performance in various economic indicators. Despite this, the report suggests that both headline and per-capita GDP growth rates are likely to remain steady.
Several countries demonstrated significant improvements in the business environment ranking, including Greece, Qatar, and India. Greece, in particular, saw a substantial enhancement in its business climate due to pro-business reforms implemented by the government. Argentina’s commitment to free market reforms under President Javier Milei propelled it to become the second most improved business environment. India also stood out as the third most improved country, signaling its potential for growth and investment.
The EIU’s business environment ranking identifies Singapore, Denmark, and the U.S. as the top three countries for conducting business, offering a stable and favorable environment for investors. While established economies continue to dominate the list, emerging markets show promise through significant improvements in their business climates. As the global business landscape evolves, staying informed about these trends and opportunities is crucial for making informed investment decisions.