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Forbes annual ranking list of 'Best Countries for Business' has been revealed. It features the 10 top countries with best business environments. However, the list does not include India. India, which jumped 30 steps to 100th spot in the 'ease of doing business' index recently has been kept out of the list. Even the United States has failed to get onto the list. It has been ranked 12. The rankings were based on 15 different factors including property rights, innovation, taxes, technology, corruption, freedom (personal, trade and monetary), red tape and investor protection. Here are the top 10 countries to do business in 2018:
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Rank-10. Switzerland- The economy of Switzerland is one of the world's most stable economies. The service sector has also come to play a significant economic role. It is 10th on the list of 'Best Countries for Business'. (Source: Reuters)
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Rank-9. Singapore-The economy of Singapore is a highly developed free-market economy. Singapore's economy has been ranked as the most open in the world, corruption is quite low, it is pro-business, and offers low tax rates to businesses. (Source: Reuters)
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Rank-8. Ireland- Tiny Ireland has logged strong GDP growth. The country has been among the top 10 countries for the business list since past many years and this time it is on 8th spot. (Source: Reuters)
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Rank-7. Denmark- The country has a modern market economy, which features high-tech agriculture, up-to-date small-scale and corporate industry, extensive government welfare measures, comfortable living standards, and high dependence on foreign trade. It is 7th on list. (Source: Reuters)
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Rank-6. Hong Kong has the highest inflation in the top 20. Earlier, it was on the 11th spot. (Source: Reuters)
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Rank-5. Canada – which has the third highest GDP in the top 20, at $1.78 trillion. It has moved from the fifth spot from the seventh spot. (Source: Reuters)
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Rank-4. Sweden, which held the fifth spot since last two years, has now jumped to the fourth spot. (Source: Reuters)
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Rank-3. The Netherlands- The country has made a commendable jump in the list to 3rd spot, earlier it was on the ninth spot. (Source: Reuters)
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Rank-2. New Zealand- The country ranks second overall for the third straight year. The island country in the southwestern Pacific Ocean is home to only 4.5 million people, but the economy has been on a roll, up 3.6% last year. (Source: Reuters)
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Rank-1. United Kingdom- Even amidst the uncertainties of Brexit, the United Kingdom has been performing so well on economic indicators that it has topped the list! Gross domestic product grew 1.8 per cent in the country and unemployment has sunk to a 42-year low at 4.3 per cent. (Source: Reuters)
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Rank-12. The United States has been ranked 12th in the list. The GDP of the nation is 1.5 per cent, however, the ratio of trade balance and GDP of the country has been pegged to be a negative 2.4 per cent. (Source: Reuters)
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Rank-62. India has been ranked as 62nd best business spot. Our GDP has been mainatined at 7.1 per cent. Smaller countries like Costa Rica, Chile and Malta are well ahead of India in the list. (Source: Reuters)
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