Greece, Qatar and India have improved the most globally in providing the best environment to businesses in the past one year, according to a report by Economist Intelligence Unit (EIU).
India came third on the list of most improved countries as a result of its youthful demographic, which promises strong demand and availability of good labour, the report said.
“India is the only single-country market that offers a potential scale comparable to that of China,” the report said.
The EIU said it expects strong economic growth between 2024 and 2028 with more foreign direct investments coming into India as companies look for manufacturing destinations other than China.
In the business environment rankings (BER), Greece improved the most due to policy reforms by a pro-business government, while Argentina’s free market programs under its new president Javier Milei has propelled its improvement in the list.
Globally, Singapore, Denmark and the US were the top three places to do business, the report said.
The Southeast Asian country cemented its position as the best destination in the world with its strong political stability and focus on supporting domestic private companies improve technologically.
Germany and Switzerland came fourth and fifth in the list, while Canada, Sweden, New Zealand, Hong Kong and Finland completed 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 ranking assesses the attractiveness of business environment across 82 countries and territories, and is measured based on various factors such as inflation, cost of living, economic growth, and fiscal policies.
