Forbes released its annual list of the best countries for business last week and tiny Denmark landed in the top spot. Low taxes and a strong focus on entrepreneurs helped Denmark rise from fourth place in 2007 to win the coveted title of best country for business in 2008 (at least according to the third annual ranking by Forbes).
On the other hand, the United States dropped from its first place ranking in 2007 to fourth place on the 2008 list. The primary reason for the lower rank for the U.S. in 2008 is the weakened U.S. dollar.
Check out the 2008 top ten best countries for business according to Forbes:
- Denmark (4th in 2007)
- Ireland (21st in 2007)
- Finland (7th in 2007)
- United States (1st in 2007)
- United Kingdom (10th in 2007)
- Sweden (9th in 2007)
- Canada (2nd in 2007)
- Singapore (14th in 2007)
- Hong Kong (8th in 2007)
- Estonia (24th in 2007)
Saudi Arabia made the most ground in terms of climbing the list from its 2007 position to its 2008 position of 47th place (a 37 place climb). One of the biggest declines is seen by Japan who dropped 21 places to 24th place on the 2008 list.
What do you think of the Forbes ranking system? Useful or flawed?
Image: Flickr
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