6 Best Locales for Business

6 Best Locales for Business

The financial crisis of 2007 has triggered banking systems, leading to the collapse of large financial institutions, economic slowdown, and downturn in stock markets. Many countries around the world plunged into a recession, especially the U.S. However, when the world emerges from a recession, the U.S loses its top ranking as a business-friendly locale. Here are other best countries for business.

 

Hong Kong, a free market economy, depends on international trade and finance. Its economy has recovered from the downturn quickly thanks to its increasing integration with China which accounts for about half of Hong Kong\’s exports by value. Hong Kong has established itself as the premier stock market for Chinese businesses. Hong Kong Stock Exchange is the world’s seventh largest, with a market capitalization of US$ 2.3 trillion as of December 2000. The global financial crisis has affected on its GDP which fell in 2009 and began recovering in the third quarter of 2009. Hong Kong maintains a close connection of its currency with the US dollar.

 

GDP Growth -2.8%

GDP/Capita $ 42,800

Trade Balance 8.7%

 

In 2005, Ireland was ranked the best place to live in the world, based on a “quality of life” assessment. It was a member of EU nations circulating the euro on January 2002. Buffeted by the global financial crisis, its government attempted to stabilize the banking sector by establishing the National Asset Management Agency in 2009.

 

GDP Growth -7.6%

GDP/Capita $ 41,000

Trade Balance -2.9%

 

New Zealand, a market economy, has an estimated GDP (PPP) of US$ 119.549 billion (2010). GDP shrank for five successive quarters during the financial crisis of 2007-2010. According to Fraser Institute think tank, New Zealand has a relatively laissez-faire capitalist economy.

 

GDP Growth -1.6%

GDP/Capita $ 27,400

Trade Balance -2.8%

 

Singapore’s economy is highly developed and free-market. It has a per capita GDP higher than that of many developed nations. Real GDP expanded an annual rate of 6.8% between 2004 and 2008 and has begun to bounce back in 2010. Over the long term, the government aims at establishing a new growth path – raising productivity growth. This to-be-Southeast Asia\’s financial and high-tech hub has lured many investments in pharmaceuticals and medical technology production.

 

GDP Growth -1.3%

GDP/Capita $ 52,200

Trade Balance 14.3%

 

Demark is a strong economy with high-tech agricultural sector, maritime shipping and renewable energy. Its mixed economy features above median European living standards and free trade. It is one of the most competitive economies in the world. Although the global financial crisis exacerbated its economic slowdown with rising unemployment rate, this economy maintains its strong fiscal position in the EU.

 

GDP Growth -4.7%

GDP/Capita $ 36,000

Trade Balance 2.9%

 

 

Canada has a market-oriented economic system and affluent living standards. Since the World War II, manufacturing, mining, and service sectors have grown impressively, which transformed the nation into a primarily industrial and urban economy from a largely rural one. Canada has several of the world’s strongest banks which emerged from the financial crisis of 2008-2009. Its major banks’ emerge is owning to the nation’s tradition of conservative lending practices and strong capitalization.

 

GDP Growth -2.5%

GDP/Capita $ 38,200

Trade Balance -2.7%

 

 

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Economics is the study of our lives,our jobs, our homes, our families and the little decisions we face every day. Thus, I am keen on reading and studying economic issues.