Forbes’ annual ranking of the finest countries for business in 2015 is dominated by Europe, and escpecially Scandinavia. European countries represent two-thirds of the top 25 with Denmark taking first place as the Best Country for Business.
“Denmark ranked in the top 20 in all but one of the 11 metrics we used to gauge the Best Countries for Business (it ranked 28th for red tape). It scored particularly well for freedom (personal and monetary) and low corruption. The regulatory climate is one of the world’s “most transparent and efficient,” according to the Heritage Foundation,” Kurt BadenHausen from Forbes writes.
Denmark has ranked first in six of the 10 annual editions of Forbes’ Best Countries list, which has a lot to do with being a market-based economy. Within the EU, Denmark is among the strongest supporters of trade liberalization and the Danish economy is according to Forbes characterized by extensive government welfare measures. Also in the rankings top five is Norway and Sweden at a third and fifth place.
Ranking in at number eight is Singapore, whose profile on Forbes is described as a “highly developed and successful free-market economy, that enjoys an open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries.” Singapore ranked number one in both the metrics “Trade Freedom” and “Investor Protection”. According to Forbes, it’s economy depends mostly on exports, particularly of consumer electronics, information technology products, medical and optical devices, pharmaceuticals, and on its vibrant transportation, business, and financial services sectors.