Singapore, Denmark & US lead global business destinations: EIU
KUWAIT CITY, April 15: Singapore, Denmark, and the United States have been identified as leading destinations for business, according to a ranking compiled by The Economist Intelligence Unit (EIU), reports Al-Anba daily.
Priyanthi Roy, the Director of Country Forecasting and European Market Analyst at the EIU, emphasized Singapore’s consistent position as the top global business destination for 16 consecutive years.
Roy highlighted Singapore’s political stability and the government’s emphasis on supporting local private sector companies in adopting technological advancements as key factors driving its business appeal.
The report also highlighted countries that have shown significant improvement in the business climate, including Greece, Qatar, and India. Greece experienced the largest improvement in the EIU index due to pro-business reforms, while India was noted as a market with potential comparable to China.
The EIU’s ranking evaluates the business attractiveness of 82 countries and regions based on indicators such as inflation, cost of living, economic growth, and fiscal policies. It also provides insights into which economies are better positioned for growth and investment.
Following Singapore, Denmark and the United States secured the second and third positions, respectively. Denmark’s strong macroeconomic fundamentals and advanced transportation and digital infrastructure contribute to its attractiveness for businesses. Similarly, the United States offers favorable market opportunities, particularly due to minimal restrictions on foreign trade and investment.
The report forecasts that Singapore, Denmark, and the United States will maintain their favorable business environments over the next five years. Germany and Switzerland rank fourth and fifth, respectively, while Canada, Sweden, New Zealand, Hong Kong, and Finland complete the top 10 list of ideal business locations.
Overall, the report emphasized that these leading economies offer stability and relatively slow but steady GDP growth rates, making them safe bets for investments.