Weekly News

These are the 33 best places to do business around the world, according to the World Bank

December 01,2018 13:14

In its 2019 edition of its "Doing Business" index, various factors are assessed, including starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes ...

The 33 best places to do business around the world - Business Insider

The US was ranked as the eighth country in which it's easiest to do business.
IM_photo/Shutterstock

Business owners face hurdles when it comes to starting out or keeping things afloat.
To assess which countries in which it's easiest to set up or maintain a business, the World Bank publishes a "Doing Business" index each year, based on various factors.
Below are the 33 countries in which it's most straightforward to do business, according to the index.

Whether it comes to starting out or keeping things afloat, business owners can often face hurdles when it comes to red tape, taxes, work legislation, or high energy bills - but to what extent are their complaints justified, based on their location?
To answer this question, the World Bank publishes a "Doing Business" index each year.
In this index, 190 countries are analysed based on the pros and cons they offer companies based there.
Read more: These are the 21 best cities in the world to find a job
To effectively analyse each country, the World Bank lays out ten categories for different phases of business activity.
In its 2019 edition of its "Doing Business" index, various factors are assessed, including starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, resolving insolvency and labor market regulation.
It then uses these factors to create an EODB score, where it ranks the countries in order of "ease of doing business".
Here are the 33 countries in which it's easiest to conduct business, according to the World Bank.

1/
33. Poland — 76.95 points

Poland is the the ninth largest country in Europe by land area.
Shutterstock
Poland's EODB score decreased by 0.36 points from 2017 to 76.59.

2/
32. France — 77.29 points

Lavender fields in Provence, France.StevanZZ/Shutterstock
Since the previous year, France's EODB score has risen by 0.36 points to 76.59.

3/
31. Russia — 77.37 points

Russia shares borders with Norway, China, Ukraine, and North Korea.
Flickr Creative Commons
Russia's EODB score has gone up by 0.61 points to 77.37 since 2017.

4/
30. Spain — 77.68 points

Spain was once a number of separate kingdoms with different languages.Nathan Rupert / Flickr Creative Commons
Since 2017, Spain's EODB score has risen by 0.07 points to 77.68.

5/
29. Rwanda — 77.88 points

Rwanda is also known as the Land of a Thousand Hills, due to the country's rolling, grassy landscape.
Tony Campbell/Shutterstock
Rwanda's EODB score rose by 4.15 points to 77.88 from 2017.

6/
28. Kazakhstan — 77.89 points

Ski slopes in Kazakhstan.M.Igor/Shutterstock
Since the year before, Kazakhstan's EODB score has risen by 0.73 points to 77.89.

7/
27. Thailand — 78.45 points

Thailand is the only Southeast Asian country never to have been colonised by a European country.Vyacheslav Argenberg via Flickr
Thailand's EODB score has increased by 1.06 points to 78.45 from the previous year.

8/
26. Austria — 78.57 points

The name Austria derives from the Germanic "austro" meaning "east".Shutterstock / Ivannovi
Since the previous year, Austria's EODB score has risen by 0.03 points to 78.57.

9/
25. Azerbaijan — 78.64 points

A view of Sheki, Azerbaijan.Shutterstock/Hasanov Jeyhun
Since 2017, Azerbaijan's EODB score has risen by 7.10 points to 78.64.

10/
24. Germany — 78.90 points

Hannover in Germany.
Shutterstock
Germany's EODB score remained the same as in 2017, at 78 points.

11/
23. Ireland — 78.91 points

The Giant's Causeway off the coast of Northern Ireland.
Shutterstock
Since the previous year, Ireland's EODB score dipped by 0.51 points to 78.91.

12/
22. Canada — 79.26 points

The Chateau Frontenac in Quebec, Canada.Shutterstock
Since the year before, Mauritius' EODB score rose by 0.38 points to 79.26.

13/
21. Iceland — 79.35 points

Reykjavik, Iceland.
Kalamurzing/Shutterstock
Iceland's EODB score increased by 0.05 points to 79.35 since the year before.

14/
20. Mauritius Islands — 79.58 points

Mauritius is predominantly Hindu and the official languages spoken there include English, French, and Creole.
hessbeck/Shutterstock
Since 2017, Mauritius' EODB score rose by 1.29 points to 79.58.

15/
19. Latvia — 79.59 points

Riga, Latvia.Bryan Ledgard / Flickr Creative Commons
Latvia's EODB score has dipped by 0.33 points to 79.59 since the year before.

16/
18. Australia — 80.13 points

A view of the Sydney Opera House in Australia.
Gaye Gerard/Getty Images
Since the previous year, Australia's EODB score has dipped by 0.01 points to 80.13.

17/
17. Finland — 80.35 points

Helsinki in Finland.
Estea / Shutterstock.com
Since 2017, Finland's EODB score has risen by 0.05 points to 80.35.

18/
16. Estonia: 80.50 points

The Tallin Christmas market in Estonia.Nathan Lund/ Wikimedia Commons
Estonia's EODB score has increased by 0.01 points to 80.50 since the previous year.

19/
15. Malaysia — 80.60 points

Kuala Lumpur, Malaysia.
Shutterstock
Since the year before, Malaysia's EODB score has risen by 2.57 points to 80.60.

20/
14. Lithuania — 80.83 points

There are about 6,000 lakes in Lithuania.Flickr Creative Commons / specchio.nero
Lithuania's EODB score has increased by 0.29 points to 80.83 since the year before.

21/
13. Taiwan — 80.90 points

Commonly known by the name "Taiwan", the country's official name is the Republic of China.
weniliou/Shutterstock
Since 2017, Taiwan's EODB score increased by 0.24 points to 80.90.

22/
12. Sweden — 81.27 points

Sweden is the fifth biggest country in Europe by area.
Oleksiy Mark/Shutterstock
There was no change to Sweden's EODB score, which remained at 81.27.

23/
11. United Arab Emirates — 81.28 points

Dunes in the desert around Dubai.
Apple
Since the year before, the UAE's EODB score has increased by 2.37 points to 81.28.

24/
10. Macedonia — 81.55 points

The Skopje "Eye Bridge" is in Macedonia.Flickr
Macedonia's EODB score has increased by 0.32 points to 81.55 since 2017.

25/
9. United Kingdom — 82.65 points

The city of Liverpool, United Kingdom.Flickr/Beverley Goodwin
The UK's EODB score has increased by 0.33 points to 82.65 since the previous year.

27/
7. Norway — 82.95 points

The fjords of Norway.
Richard Espenant/Shutterstock
Since 2017, Norway's EODB score has increased by 0.25 points to 82.95.

28/
6. Georgia — 83.28 points

Tbilisi, Georgia.
Lals Stock/Shutterstock
Georgia's EODB score has increased by 0.48 points to 83.28 since the previous year.

29/
5. South Korea — 84.14 points

The name "Korea" comes from Goryeo, which is what it was called in 918AD.
Kim Hong-Ji / Reuters
Since 2017, South Koreas's EODB score has decreased by 0.01 points to 84.14

30/
4. Hong Kong — 84.22 points

Hong Kong can be translated to "Fragrant Harbor".
zhangyuqiu/Shutterstock
Hong Kong's EODB score has increased by 0.04 points to 84.22 since the previous year.

31/
3. Denmark — 84.64 points

The Little Mermaid, Denmark.
Pocholo Calapre / Shutterstock.com
Denmark's EODB score has increased by 0.59 points to 84.64 since 2017.

32/
2. Singapore — 85.24 points

A view of Singapore's skyline at sundown.
Shutterstock/joyfull
Since the year before, Singapore's EODB score increased by 0.27 points to 85.24.

33/
1. New Zealand — 86.59 points

New Zealand is famous for its lush hills and rolling landscape.
Michal Durinik/Shutterstock
New Zealand had no change in its EODB score, which remained at 86.59.

1/
Read the original article on Business Insider España.

This post has been translated from Spanish.

Copyright 2018. Follow Business Insider España on Twitter.

business business casual business lease business card business insider business english business model canvas business class business facebook business intelligence

Share this article

Related videos

Richest Country Comparison (All 188 Countries Ranking)
Richest Country Comparison (All 188 Countries R...
Foreign aid: who gives the most, and where does it go? | The Economist
Foreign aid: who gives the most, and where does...

DON'T MISS THIS STORIES