Rankings reveal Australia great place for business
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21 April 2008
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The Economist Intelligence Unit (EIU) has released its Business Environment Rankings for 2008 – 2012, revealing the best countries in which to do business over the next five years.
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While Denmark obtained the number one ranking, Australia had the largest gain in status, improving eight places - from fourteenth place over the past five years (2003 – 2007) to sixth place for the coming five years (2008 – 2012).
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Finland, Singapore, Canada and Switzerland round out the top five with only a small margin separating the top six countries.
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Within the top five, Singapore and Switzerland both dropped rankings (by two and one place respectively), with Singapore losing the number one position it held for the past five years.
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The EIU’s business rankings model measures the quality and attractiveness of the business environment in 82 countries by examining the political environment, the macroeconomic environment, market opportunities, policy towards free enterprise and competition, policy towards foreign investment, foreign trade and exchange controls, taxes, financing, the labour market and infrastructure.
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Categories in which Australia continues to receive perfect or very high scores include political stability, foreign trade and exchange controls, and financing.
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Substantive gains since the 2003-07 survey were made in the categories of foreign investment policy, financing, foreign trade and exchange controls, and the labour market.
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