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Best Countries for Business

Forbes.com determined the Best Countries for Business by looking at 11 different factors for 134 countries. They considered property rights, innovation, taxes, technology, corruption, freedom (personal, trade and monetary), red tape, investor protection and stock market performance.

The business website leaned on research and published reports from the Central Intelligence Agency, Freedom House, Heritage Foundation, Property Rights Alliance, Transparency

International, the World Bank and World Economic Forum to compile the rankings.

1. Canada

As an affluent, high-tech industrial society in the trillion-dollar class, Canada resembles the US in its market-oriented economic system, pattern of production, and affluent living standards.

2. New Zealand

Over the past 20 years the government has transformed New Zealand from an agrarian economy dependent on concessionary British market access to a more industrialised, free market economy that can compete globally.

3. Hong Kong

Hong Kong has a free market economy highly dependent on international trade and finance – the value of goods and services trade, including the sizable share of re-exports, is about four times GDP.

4. Ireland

Ireland is a small, modern, trade-dependent economy. Ireland was among the initial group of 12 EU nations that began circulating the euro on 1 January 2002.

5. Denmark

This thoroughly modern market economy features a high-tech agricultural sector, state-of-the-art industry with world-leading firms in pharmaceuticals, maritime shipping and renewable energy, and a high dependence on foreign trade.

6. Singapore

Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries.

7. Sweden

Aided by peace and neutrality for the whole of the 20th century, Sweden has achieved an enviable standard of living under a mixed system of high-tech capitalism and extensive welfare benefits.

8. Norway

The Norwegian economy is a prosperous bastion of welfare capitalism, featuring a combination of free market activity and government intervention.

9. United Kingdom

The UK, a leading trading power and financial center, is the third largest economy in Europe after Germany and France.

10. United States

The US has the largest and most technologically powerful economy in the world, with a per capita GDP of US$47,200.

11. Australia

Australia’s abundant and diverse natural resources attract high levels of foreign investment and include extensive reserves of coal, iron ore, copper, gold, natural gas, uranium, and renewable energy sources.

About Mohammad

Dr Mohammad Khazab completed his Ph.D. in Computer Systems Engineering (Artificial Intelligence) at the University of South Australia in 2011. He has worked as Senior Software Engineer, Web Developer, and Research Associate on various projects. Currently he works at Schneider Electric on the design and development of new software solutions for smart devices used for home automation and Internet of Things. He's also been working on enterprise software for supply chain network simulation and optimisation, advanced planning and scheduling. In his spare times, In his spare times, he works on creating websites and mobile applications (Web2day Design), researching and writing about cutting-edge technologies in this blog. He has ambitions to solve real-world problems, and to use his knowledge and skills to develop useful applications.

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