Singapore 'best for business' says World Bank

By David Flynn, November 7 2010
Singapore 'best for business' says World Bank

For the fifth year in a row Singapore has been rated by the World Bank as the best country for business.

The tiny city-state continues to punch above its weight, beating out powerhouses such as the UK and USA according to the World Bank's "Doing Business 2010" report.

But regional rival Hong Kong has closed the gap in second place, the report says, after making big strides in cutting red tape in the past year.

New Zealand takes third place while Australia closes out the top ten list.

The report's criteria includes investor protection, getting credit, paying taxes, trading across borders, registering property and dealing with construction permits. (However, it doesn't factor in some macro conditions such as the country's infrastructure, workforce skills, or security.)

And if you're thinking of setting up shop in the African nation of Chad, think again: the World Bank rates the land-locked country, which is considered one of the poorest and most corrupt in the world, as last on its list from 183 countries surveyed.

The World Bank's Top Ten Countries for Doing Business
1. Singapore
2. Hong Kong
3. New Zealand
4. United Kingdom
5. United States
6. Denmark
7. Canada
8. Norway
9. Republic of Ireland
10. Australia


David Flynn is the Editor-in-Chief of Executive Traveller and a bit of a travel tragic with a weakness for good coffee, shopping and lychee martinis.

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