Singapore is considered the business hub of Asia. No wonder Southeast Asian countries have once again been ranked at the top of the global business world for the 16th consecutive year.
The Economist Intelligence Unit (EIU) conducts a yearly ranking of 82 countries with 91 important business factors to evaluate the important business hubs around the world.
Singapore came up at the top of the list due to its strong infrastructure, adequate location, and clear business rules. Its skilled workforce and diverse economy also added significant value to Singapore’s business strategy and growth.
Apart from Lion City, Denmark, and the United States are close behind in the ranking of being one of the best countries to do business with. EIU predicts that these three countries will continue their ranking and lead world business in the next five years.
Additionally, the ranking shows that Vietnam is doing exceptionally well and climbing the ladder. Sadly, China’s ranking dropped due to changes in rules and higher costs. However, other countries like Australia, Taiwan, and South Korea made it to the top 20 on the list.
But for now, it is confirmed that Singapore is the best country to do business in, not only because of its strategic location but also because of its convenience. The improvement and constant development of its infrastructure, transparent rules, and partnerships add on to its liking for business partners in years to come.
