Many businesses are trying to figure out where their next office should be. When deciding, it’s important that you consider the countries with a high growth rate and a high potential for economic development in the future. In this blog post, we’re going to explore 14 of these countries – some might surprise you!
The Top 14 Countries To Do Business In 2021
1. Canada (high economic growth rate): Canada’s low taxes and a strong economy make it an attractive place for companies to do business. It has also recently become more accommodating of foreign investors by simplifying the rules around investments in government bonds, shares of public companies, and government-sponsored enterprises.
2. Poland (rising economy): A growing market with a lot of opportunities, Poland is the perfect place for new businesses to set up shop. The workforce is very well educated – 53% have at least some university education. This combined with low labor costs make it an ideal location to establish a business in.
3. Croatia (low unemployment rates and accessible education system): Croatia is a great place to set up a business if you’re looking for an educated workforce. Its unemployment rate has been decreasing year after year, and its accessible university system ensures that Croatia remains one of the most well-educated countries in Europe.
4. Malaysia (friendly market, good infrastructure, and ease of doing business): Malaysia’s market is very welcoming to foreign businesses. Its government has taken steps in recent years to make it easier for companies from overseas to invest and operate within local markets.
5. Ireland (positive GDP per capita change forecasted for the 2017 – 2020 period as well as a good education system and skilled labor force): Ireland has a strong economy, high quality of life, and an educated workforce. These are all things that businesses look for in new locations when they’re deciding where to set up shop.
6. Hungary (positive GDP per capita change forecasted for the 2017 – 2020 period as well as a low cost of doing business): Hungary’s GDP per capita is expected to increase in the next few years. Furthermore, it has a low cost of doing business and an abundant labor force with competencies needed by international companies.
7. Malta (low unemployment rates, ease of doing business, highly educated population, and strong workforce/track record in the tourism sector): Malta is a very welcoming place for business and has many aspects that make it easy to do business there. Its unemployment rates are low, its workforce is competencies in the tourism sector, and it’s an extremely educated country with one of the highest levels of tertiary education attainment in Europe.
8. Mexico (fast-growing economy, strong workforce): Mexico has a fast-growing economy and is known for its strong workforce. It’s very open to international trade, making it an attractive place for foreign companies.
9. Oman (fast-growing economy, good tax system, and infrastructure development): Oman’s oil reserves are running out and it needs to turn towards other sectors for growth. This means that there is a lot of investment in the country right now which makes it an attractive place to do business.
10. Romania (positive GDP per capita change forecasted for the 2017 – 2020 period as well as low cost of doing business): Romania’s low cost of doing business and high-quality workforce make it a great place for new businesses to set up shop. Its GDP per capita is expected to increase in the next few years.
11. Serbia (low unemployment rates, ease of starting a new business process, skilled labor force/track record in machinery and electricity production): Serbia’s economy is growing and it has a very well-educated labor force. It also has one of the lowest unemployment rates in Europe, making it an attractive location for foreign businesses.
12. The Philippines (fast-growing economy, good infrastructure system): The Philippines has a fast-growing economy that is set to continue. They also have an excellent infrastructure system which makes it attractive for businesses.
13. Qatar (fast-growing economy, positive GDP per capita change forecasted for the 2017 – 2020 period): Qatar’s economy is expected to grow in the next few years and it has a growing GDP per capita which makes it an attractive place for foreign companies looking to set up shop.
14. Pakistan (stable political climate, good tax system, and positive GDP per capita change forecasted for 2017 – 2020 period): Pakistan has a stable political climate, an excellent education system (with one of the highest literacy rates in Asia), low cost of doing business, and is expected to have one of the fastest-growing economies over the next few years.
These are just some of the many countries that you should consider for your next business location. Each of these countries is unique and has its own strengths – do your research to find out which country is the best fit for you. If you found this post helpful, please share it with people who might also be interested in starting a business! Thanks for reading.