Global Economy
Singapore world's most business-friendly location; Followed by Switzerland & Hong Kong
By Finfacts Team
May 21, 2014 - 1:54 PM

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Singapore keeps its top spot in the Economist Intelligence Unit's (EIU) world's most business-friendly locations, staying ahead of second-placed Switzerland and third-placed Hong Kong. Ireland gets a 15th ranking.

Asia's other top locations are Australia (in 5th place), New Zealand (8th), Taiwan (14th) and Malaysia (19th). 

In Europe Sweden is at (6th), Finland (9th), Denmark (10th), Norway (11th) and Germany (12th).

The USA is at (7th) and the UK is at (22nd).

The EIU survey measures the quality of the business environment in 82 locations across the world.

The business rankings model examines ten separate criteria or categories, covering the political environment, the macroeconomic environment, market opportunities, policy towards free enterprise and competition, policy towards foreign investment, foreign trade and exchange controls, taxes, financing, the labour market and infrastructure. Each category contains a number of indicators that are assessed by the Economist Intelligence Unit for the last five years and the next five years. The number of indicators in each category varies from five (foreign trade and exchange regimes) to 16 (infrastructure), and there are 91 indicators in total. Each of the 91 indicators is scored on a scale from 1 (very bad for business) to 5 (very good for business).

Almost one-half of the indicators are based on quantitative data (eg GDP growth), and are mostly drawn from national and international statistical sources for the historical period (2009-13) and from Economist Intelligence Unit assessments for the forecast period (2014-18). The other indicators are qualitative in nature (eg quality of the financial regulatory system), and are drawn from a range of data sources and business surveys adjusted by the Economist Intelligence Unit, for 2009-13. All forecasts for the qualitative indicators covering 2014-18 are based on Economist Intelligence Unit assessments.

2014 Business Environment Rankings [free download after short registration}

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