As we have now started the new year, motivation is well and truly soaring. Goals are set, and people are on the path of generating success as the year continues. For the business world, a new year means new statistics and predictions which is why we have focused on the most promising countries for business in 2019. As the saying goes, let’s start as we mean to go on.
The Brexit Limbo
The world has been seeing worrying headlines for months about how uncertain the UK economy will be once Brexit is finally upon us, however, the doom and gloom of it does not appear to be all that damaging. For 2019, the United Kingdom has been ranked number one for businesses. This is the second year in a row that the UK has managed to grab this title, and so far Brexit isn’t standing in the way.
Based On What?
It’s all very well and good shouting from the rooftops that the UK is one of the best countries in the world for businesses but just what makes it a wise choice? Well for a start there is a lot less red tape for businesses in the UK as opposed to other countries around the world, and that alone can speed up the growth and success of a business. In terms of investor protection, taxes, infrastructure, corruption, quality of life, technology, workforce, innovation, political risk, market size, and property rights the UK is listed among the top countries for each section. Some countries didn’t have any data available for particular sections, and when combining all of these elements together, the UK came out on top.
How Do Other Countries Compare?
All in all 161 countries were ranked due to the availability of data across all of the categories mentioned above. The United States came up at number 37 as far as taxes are concerned with Hong Kong landing the top spot. For investor protection, Kazakhstan took first place with Haiti coming in last. Speaking of lasts, Venezuela has a lot of them as they ranked bottom on taxes, monetary freedom, and red tape. Coming in at number 161 and awarded the last place overall, is the Central African Republic.
The Top 10 Countries For Business
The country with the highest GDP per capita at $80,200 and placing 10th is Switzerland. It would be surprising if Switzerland didn’t rank in the top 10 however some people expected a slightly better result. 9th place is Australia, and spot number 8 goes to Singapore. With its slightly higher cost of living, Denmark landed in 7th place and Canada in 6th. New Zealand sits firmly in 5th while the Netherlands snatched spot number 4. Hong Kong’s GDP growth of 3.8% and soaring above the other countries in terms of tax means that it is awarded third place. And, last but by no means least sitting just behind the UK in second place is Sweden.
Despite the rumors surrounding the UK’s uncertainty, 2019 looks to be a very propitious year regarding business. Investment opportunities are rising around the country, and the property market is gearing up for a busy year ahead.