Top Ten Best Countries for Business – Today’s world is full of opportunities for entrepreneurs and business men. Many nations worldwide are seeking investments. Here are the top ten best countries for business as per Forbes. The US has fallen in rankings for a sixth straight year. This is mainly due to low scores in bureaucracy and monetary freedom. European countries represent two-thirds of the top ten.
List of Top Ten Best Countries for Business 2016 Ranking
10. United Kingdom
With a GDP of $2,945 billion and GDP per capita of $39,800, the United Kingdom is the third biggest economy in Europe. The nation produces around 60 percent of food needs with less than 2 percent of the labor force. Price rises are 1.5 percent. Even though the UK has coal, oil and natural gas reserves, it has been a net importer of energy for the last ten years. Services like banking and insurance are the key drivers of the country’s 3 percent GDP expansion.
The GDP growth rate of Netherlands is 1 percent. With a GDP of $866 billion, it is the sixth biggest economy in the EU. Netherlands is major transportation hub in the EU. It enjoys stable industrial relationships. At 7.4 percent joblessness rate is not very high. Netherlands is well-known for its highly mechanized farming sector; it is the second largest agricultural exporter in the world.
The GDP of Singapore is $308 billion. Inflation is 1 percent in this highly developed economy. Singapore is famous for its corruption-free environment. This thriving free-market economy’s GDP growth rate was 2.9 percent. Unemployment is just 2 percent. At $83,100, The GDP per capita is higher than that of many developed nations. Trade-balance-to-GDP ratio is 19.1 percent; the country depends heavily on exports.
This various industrial country’s GDP is 1,789 billion. Canada has a market-oriented economic system. The country’s GDP per capita is $45,000. Citizens of Canada enjoy high living standards. GDP growth rate of 2.4 percent is driven by manufacturing, service and mining sectors. The nation enjoys substantial trading surplus with the US. It is America’s largest foreign supplier of energy.
The per capita output of Finland is almost as high as countries like Sweden and Netherlands. The GDP per capita of this free-market economy is $40,700. Exports account for more than a third of GDP. Finland is a highly industrialized country. The unemployment rate is 8.7 percent. Currently, the country’s primary challenge is to stimulate growth.
People living in Sweden enjoy an enviable standard of living. GDP is $570 billion. Inflation is 0.2 percent. Currently, the country is outside the Eurozone. GDP per capita is $46,200, and GDP growth rate is 2.3 percent. The economy is heavily oriented towards foreign trade; the trade-balance-to-GDP ratio is 6.2 percent. Agriculture accounts for less than 1 percent of GDP.
GDP of this small nation is $246 billion. Ireland’s economy is trade dependent. Trade-balance-to-GDP ratio is 3.7 percent. This modern country’s GDP growth rate is 5.2 percent, and GDP per capita is $51,300. Ireland was among the initial group of 12 European countries that began circulating the Euro way back in 2002.
Norway has a mixed economy; a large public sector and a vibrant private sector. The nation’s GDP is $500 billion. Norway is well-known for its extensive social safety net. GDP growth rate is 2.2 percent. Petroleum sector contributes around 30 percent of the country’s revenue. Norway is the third-largest natural gas exporter in the world.
2. New Zealand
The GDP of New Zealand is $201 billion. Over the past three decades, the nation has transformed from an agrarian economy to an industrialized free-market economy. The GDP per capita is $35,300, and GDP growth rate is 3.3 percent. The trade-balance-to-GDP ratio is -3.2 percent. Currently, the state is implementing programs to expand export markets, invest in innovation, develop capital markets and raise productivity growth.
Denmark has made it to the top again. The country’s GDP is $341 billion. It has a modern market economy. Denmark features a high-tech agricultural sector and state-of-the-art industry. It is a member of the EU and depends highly on foreign trade. Denmark’s trade-balance-to-GDP ratio is 6.3 percent. The country is a net exporter of food and energy. GDP per capita is $44,600, and GDP growth rate is 1.1 percent. Danes enjoy a high standard of living. The economy of Denmark is well-known for its extensive government welfare measures. Unemployment is 4.9 percent, and inflation is 0.6 percent.