Forbes has released its list of “Best Countries for Business.” Taking a look at multiple factors such as corruption, innovation or technology, Forbes ranked which countries created the best environment for businesses.
Coming in at the number one country for business is the United Kingdom. After the controversial Brexit vote, experts had doubts that the UK would place so high. However, Its strong financial sector along with trade ties with the rest of Europe kept the economy strong. The UK also has the strongest growing economy in the G7. While the UK’s future looks bright, the looming shadow of Brexit still hangs over the country as no one knows how it will affect the UK’s trade deals with the rest of Europe.
Moving down the list to the number six spot is Hong Kong. Hong Kong is unique because of its economy's freedoms of trade. There are no tariffs on imported goods, little regulation and only four goods are subject to excise duties. Hong Kong has also seen a surge in tourism doubling visitor numbers from 2001 to 2014. Holding it back is the lack of natural resources and food Hong Kong has access to. Most of these must be imported from surrounding countries.
The final one I want to touch on is The United States. This year the US placed twelfth on the list. While we have the largest and most technologically advanced economy in the world, other countries are showing better growth rates. China has nearly tripled the US economies growth rate. The US also faces many challenges within its boarders including underfunded and outdated infrastructure, recovery from one of the worst recessions in history, and a growing wealth gap. While the US used to be a powerhouse post World War Two, there are many new challenges the country must adapt to in order to keep it seat.
If you want to read the full list you can follow the link below.
https://www.forbes.com/best-countries-for-business/list/#tab:overall
Coming in at the number one country for business is the United Kingdom. After the controversial Brexit vote, experts had doubts that the UK would place so high. However, Its strong financial sector along with trade ties with the rest of Europe kept the economy strong. The UK also has the strongest growing economy in the G7. While the UK’s future looks bright, the looming shadow of Brexit still hangs over the country as no one knows how it will affect the UK’s trade deals with the rest of Europe.
Moving down the list to the number six spot is Hong Kong. Hong Kong is unique because of its economy's freedoms of trade. There are no tariffs on imported goods, little regulation and only four goods are subject to excise duties. Hong Kong has also seen a surge in tourism doubling visitor numbers from 2001 to 2014. Holding it back is the lack of natural resources and food Hong Kong has access to. Most of these must be imported from surrounding countries.
The final one I want to touch on is The United States. This year the US placed twelfth on the list. While we have the largest and most technologically advanced economy in the world, other countries are showing better growth rates. China has nearly tripled the US economies growth rate. The US also faces many challenges within its boarders including underfunded and outdated infrastructure, recovery from one of the worst recessions in history, and a growing wealth gap. While the US used to be a powerhouse post World War Two, there are many new challenges the country must adapt to in order to keep it seat.
If you want to read the full list you can follow the link below.
https://www.forbes.com/best-countries-for-business/list/#tab:overall
