I have been doing a business section on various countries for the longest time, but some may be asking what are the best countries to do business and invest in? There are a number of factors that go into making a country a successful destination for business and investment. I have noticed that metrics which look at these countries regularly change from year to year, so what are really the best countries to invest in on a long term basis? When talking about these countries, I look at not just current economic conditions but future growth potential, as well as past performance. I am only going to go into a brief definition here, because the countries I am covering here, are countries I have already written a business section for before. When considering these countries, I am also looking at how easy it is to do business there and how open the markets are for foreign goods. These countries in my opinion reflect the best places to do business in and invest in, for the long term. Economic conditions are always changing, but these countries in my opinion have some of the best governmental institutions, which are conducive to long term growth.
This city state is known for its stability and strong rule of law. The Singaporean government has done a remarkable job, transforming the Singaporean economy into a global player with a strong and diversified economic base. Singapore continues to attract a large number of immigrants from Southeast Asia and Europe, due to its booming economy and clean/ safe environment. Some might be wondering why I have not included Hong Kong instead. But HK is not really an independent country, it is part of the PRC and the Hong Kong government has fallen more and more under the control of the Chinese government. Resulting in an increase of corruption and a less independent judiciary.
While Australia is a relatively small market with approximately only 20 million people, it has one of the faster growing population on the planet. Primarily due to heavy immigration and a decent local birth rate. Australians also enjoy some of the highest living standards on the planet, while also having some of the most stable and cleanest government in the Pacific. Add to the mix that Australia is in an ideal position close to emerging Asian markets, and you have a gold mine, literally. Australia provides tons of minerals that keep Asian markets humming.
3. United Kingdom
The UK is arguably the safest European country to invest in, compared to its Eurozone peers. The birthplace of the Industrial Revolution, is also one of the fairest markets in the world. With London considered the financial capital of the world, albeit with New York close behind. The British government has a record of honoring its debts and providing a safe environment for investors and businessmen. Just talk to all the Russian billionaires who fled Moscow and its rampant corruption and lack of property rights, to make London what some Russians affectionately call “Londongrad”. Add to the mix that the UK continues to attract immigrants from all over the world, as well as integrating them better than any other European country, and you have a strong country to do business in. Not being a part of the Eurozone and all its problems, helps a lot too.
The northern part of North America is definitely one of the heavy hitter’s on this list. With a growing population due to mass immigration, some of the most corruption-free and transparent government institutions anywhere and high living standards; Canada should be on anyone’s list for investment. Sitting right next door to the US, with who it shares the world’s largest unpatrolled border, and you have the ideal springboard for jumping into the vast American markets. Canada also survived the 2008 financial crisis better than most other countries out there, with absolutely no housing problems in the Canadian housing sector. The Canadian economy is highly diversified with no sector having the ability to bring down the rest of the economy. Add to the mix, that Canadians enjoy exceptionally high living standards and you have a rich, growing, and lucrative market to enter.
There is no question about which country is the best to do business in. The US economy has consistently gotten bigger and richer, since its independence from the British empire. There is no other country on the planet Earth that has been capable of generating economic growth like the US has been for the past 200 years. Maybe the UK, but the US has a population richer and approximately 6 times the size of its former colonial ruler. The US is responsible for approximately a quarter of the world’s economic output, not bad when you consider that Americans are only 5% of the world’s population. The US adds about a million new Americans a year through massive immigration, these new Americans are all generally affluent and can afford most middle class products that companies have to offer. And let’s not forget that the US spends more on R&D than any other country today, and you have the recipe for a continuously technologically advancing economy. If you’re reading this aritcle, your reading it on a American product, the internet. The same country that created the first light bulb, also created the World Wide Web. A more recent American invention might be the smart phone. The US government, while subject to divisive politics from time to time, has shown itself capable of unleashing tremendous creativity and economic activity. While at the same time standing up for the common consumer and keeping unsafe products out of supermarkets. I could go on and on, but some say that America’s best days are behind us. But people said that before and things haven’t usually gone the way they would’ve liked.