Canada, New Zealand Best in the World for Business

October 5, 2011 International Tax Cooperation

Business Around the WorldA new study has ranked the countries of the world, based on their attractiveness as a business destination, and has shown Canada and New Zealand to be at the top of the list.

The international media giant Forbes has published their 2011 list ranking the best countries in the world in which to do business. The listed nations were ranked based on several economic, social and political factors, such as trade and monetary freedom, levels corruption, personal freedom, tax burdens, and investor protection. The list consisted of 134 nations from all regions of the world.

According Forbes’ research, Canada is the best country in which to do business in 2011, and was regarded as an affluent and high-tech industrial nation, with a market-orientated economic system. Forbes ranked Canada as having the highest degree of personal freedoms, and was also in the top ten for trade freedoms, property rights, lack of economic red tape, investor protection, low corruption levels, and tax burdens. In the previous year Canada was ranked fourth, but improved its standing through recent reductions in tax burdens.

New Zealand was ranked as the second best country for doing business in the 2011 year, with top ratings for personal freedoms, freedom from corruption, investor protection, and a lack red tape. The country was only ranked second due to its relatively low positions in trade freedoms, innovation, and tax burdens, along with its comparatively low level of GDP growth.

Amongst OECD nations, Sweden was ranked top, with a global standing of 7th. The UK and the USA were ranked 9th and 10th respectively. Australia was ranked 11th, while the European political powerhouses France and Germany were ranked 18th and 21st.

In Eastern Europe, Estonia was regarded as the best place for business in 2011, being ranked 16th in the world, and Ukraine was the worst, holding the 105th position. The BRIC nations saw mixed results, with South Africa being ranked 40th in the world, followed by Brazil as 73rd, India as 94th, and Russia as 102nd.

The lowest ranked countries were Burundi, Zimbabwe and Chad, ranked 132nd, 133rd, and 134th respectively.

Photo by melanieburger