Sweden is the best out of 139 countries worldwide in the recent 2017 Best Countries for Business ranking by Forbes, measuring which economies are the most inviting for capital investment. The other Nordic countries are not far behind: Denmark took the sixth position, Finland the eighth and Norway the ninth.
The American magazine's annual ranking is based on a comprehensive compilation of data on 139 countries gathered from reports by Freedom House, Heritage Foundation, Property Rights Alliance, Transparency International, World Bank Group, World Economic Forum, Bloomberg and CIA's World Factbook.
The countries receive scores in the following categories: property rights, innovation, taxes, technology, corruption, freedom (personal, trade and monetary), red tape, investor protection and stock market performance. Sweden ranked among the top 10 countries in seven of these categories.
Sweden has undergone a transformation to reach the top. Among the reasons Forbes listed for the ranking were that Sweden’s $493 billion economy grew by 4.2 percent, its low level of public debt relative to other European Union countries and free-trade policies.
In addition, Sweden is home to some of the most venerable, well-known brands in the world and a haven for tech startups.
Best 10 countries to do business
1. Sweden 2. New Zealand 3. Hong Kong 4.Ireland 5. United Kingdom
6. Denmark 7. Netherlands 8. Finland 9. Norway 10. Canada