Canada ranks second in the world for ‘Best Countries For Business’ according to Bloomberg
Bloomberg, a global financial media company, has listed Canada as the second most attractive country for business in the world according to its annual “Best Countries for Business” 2014 rankings.
Hong Kong secured the top spot on the list for the third year in a row. The U.S. and Singapore were ranked third and fourth respectively. Germany and Australia tied for fifth spot.
The list ranked 157 countries according to six criteria, including the cost of setting up a business, the cost of labour and materials, the cost of moving goods, and consumer receptivity, which gauges consumption. Canada placed sixth in the 2013 rankings.
“Canada jumped from sixth place to second largely because of the receptivity of its consumers, measured by the size of its middle class, household consumption and GDP per capita,” states the report.
Ontario’s steady economic growth, business friendly environment and generous R&D tax incentives are part of the reason why an increasing number of global companies choose Ontario for new investments, as noted by leading publications including Forbes, Site Selection and Area Development magazines.
