Canada has retained its position of providing one of the best business environments in the world.
The Economic Intelligence Unit, a sister company of the UK-based The Economist newspaper, predicts that Singapore, Canada, and Denmark will have the best business environments over the next five years, according to EIU’s latest business environment rankings for Q2 2023.
Singapore has emerged again as the top business environment. Canada ranks second in the BER, while the US ranks fourth, unchanged from a year ago.
Denmark, Switzerland, Sweden, Hong Kong, Germany, New Zealand and Finland round out the top ten, primarily supported by robust economic and political stability.
North America and Western Europe remain the most attractive regions for business, followed by Asia, Eastern Europe, Latin America, and the Middle East and Africa.
EIU says business environments in Vietnam, Thailand, Belgium, Sweden, India, and Costa Rica improved the most over the past year, while China, Bahrain, Chile, and Slovakia experienced the most significant deterioration.
The Economist Intelligence Unit’s (EIU) business environment rankings (BER) for Q2 2023 showcase the impact of the war in Ukraine, global inflation, cost-of-living crises, and the combination of fiscal loosening, monetary tightening, and economic slowdown on the business environments of 82 countries. The quarterly BER evaluates the appeal of doing business using 91 indicators.