Singapore is a country that is persistently ranking on lists of awards worldwide. From the world’s best city 2024 to the world’s best hospitals, and more…The Lion City is admired around the world. And now a report by the Economist Intelligence Unit has named Singapore as the world’s best place to conduct business.
According to the Economist Intelligence Unit’s business environment ranking, Singapore tops the list as the world’s best economy for business ventures. In fact, Singapore has been one of the best locations globally to do business for nearly two decades.
World’s Top 10 economies 2024 – Singapore
The EIU report states that Singapore is the no.1 place for doing business worldwide. This is primarily due to its political stability and the government’s aid in helping homegrown companies upgrade.
The report considered 82 countries and territories, for its business-friendly ways, alongside 92 indicators. For instance, it measured factors such as cost of living, inflation, economic growth, and other country policies. Denmark took second place behind Singapore while the United States followed in third place with excellent market opportunities.
These are the Top 10 economies in the world for 2024:
1. Singapore (8.56)
2. Denmark (8.41)
3. United States (8.40)
4. Germany (8.35)
5. Switzerland (8.33)
6. Canada (8.31)
7. Sweden (8.29)
8. New Zealand (8.26)
9. Hong Kong (8.24)
10. Finland (8.22)
According to the report, countries such as Argentina, Qatar, India, and Greece showed the largest improvement on the list of business-friendly countries. For example, Greece had the biggest improvement due to financing, recent reforms, and tax cuts.
Overall, Singapore offers an advanced economy and safe place for investments with a stable GDP growth. What do you think of these findings by the Economist Intelligence Unit? Let us know via our social media channels.