Thailand beats China, takes 2nd place as best nation for starting business
Thailand has secured the second position as the best country in the world to start a business in 2023, as per rankings published in the US News and World Report.
The “Best Countries for Starting a Business in 2023” report assessed 85 countries on various factors, such as taxes, labour conditions and other business-related conditions.
The rankings to start a business this year were determined through a comprehensive survey involving more than 17,000 people worldwide. Among them were 4,600 decision-makers in the business world, like senior executives in organisations or small business owners who employ staff.
The ranking was based on five key criteria, namely:
• Affordability
• Absence of bureaucratic hurdles
• Low production costs
• Connectivity to global markets
• Accessibility to capital
Here is the list of the top 10 countries considered the best for initiating a business this year:
1. India
2. Thailand
3. China
4. Mexico
5. United States
6. Philippines
7. Vietnam
8. Brazil
9. Malaysia
10. Spain.
