According to a report by the Economist Intelligence Unit (EIU), Greece, Qatar, and India have made the most significant improvements globally in providing the best environment for businesses over the past year.
India secured the third position on the list of most improved countries, largely due to its youthful demographic, which promises strong demand and the availability of good labor, the report highlighted.
The EIU emphasized that India stands out as the only single-country market offering potential scale comparable to that of China, positioning it attractively for businesses.
The report forecasts robust economic growth for India between 2024 and 2028, anticipating increased foreign direct investments as companies seek manufacturing destinations beyond China.
Greece’s remarkable improvement in the business environment rankings (BER) is attributed to policy reforms by a pro-business government, while Argentina’s implementation of free-market programs under its new president Javier Milei has also contributed to its advancement in the list.
Globally, Singapore, Denmark, and the US were identified as the top three places to conduct business, with Singapore securing its position as the premier destination due to its strong political stability and focus on supporting domestic private companies to enhance technological advancement.
Germany and Switzerland claimed the fourth and fifth spots respectively, while Canada, Sweden, New Zealand, Hong Kong, and Finland rounded up the top 10 in the world.
“These are all advanced economies and long-standing strong performers in our index, so tend to be safe bets for investments,” the report stated.
The EIU’s comprehensive ranking evaluates the attractiveness of the business environment across 82 countries and territories, considering factors such as inflation, cost of living, economic growth, and fiscal policies.
Sources Of Information: Moneycontrol
