Bloomberg and Forbes Magazine also
publish a similar yearly list that is based on their own set of criteria in
order to rank countries by the best business-friendly practices. Forbes’ current list was released in December
of 2013 and relies on factors such as “property rights, innovation, taxes,
technology, corruption, freedom (personal, trade and monetary), red tape,
investor protection and stock market performance.”
Forbes most recent nomination of
Ireland for the number one spot came as a surprise to many as they had been in
the the number 6 spot just the year before.
The magazine praises Ireland for having an extremely business-friendly
environment that has attracted investors from around the world. Their low tax burden, investor protection and
personal freedom coupled with a common language to Europe all work in their
favor.
Bloomberg used the following
criteria to identify the best countries for their 2014 list: “the degree of economic integration; the cost
of setting up a business; the cost of labor and materials; the cost of moving
goods; less tangible costs like inflation and the level of corruption; and the
health of its consumer base.” Bloomberg’s 2014 top pick was Hong Kong for
the second year in a row. On their list,
the U.S. fell from second to third place based on the
high cost of setting up a business.
Sources:
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