Forbes: Denmark is once again the best country for business
For the second year in a row, Forbes Magazine ranks Denmark number one in their global league table “Best countries for business”. The ranking is based on 11 factors, of which Denmark particularly excelled in low corruption, monetary freedom and personal freedom.
Tuesday, January 26, 2016
It is the 6th time out of a possible ten that Forbes Magazine has ranked Denmark as no 1. In the category “Best countries for business”. The ranking of the “Best Countries for Business" is determined by grading 144 nations on 11 different factors: property rights, innovation, taxes, technology, corruption, freedom (personal, trade and monetary), red tape, investor protection and stock market performance.
Denmark’s position as a country with favourable business conditions is also supported in other rankings, as illustrated in the World Bank’s list “Easiest Country for Business”, where Denmark is once again placed in the highest scale among the European countries.
Low corruption
A primary factor that contributes to Denmark’s rank as no. 1 is that it scores highly on the ‘low corruption’ parameter. This position is supported by the findings in a 2015 Fraud Survey by Ernst & Young that ranks Denmark as the least corrupt country in Europe, Middle East, India and Africa (EMEA). Sustainable growth relies on ethical business conduct, and Denmark is in the lead when it comes to ethical business behaviour.
Moreover, Denmark was ranked least corrupt country in the world by the Transparency International's study of corruption worldwide, which focuses on the perception of corruption in the public sector.
Monetary and personal freedom
‘Low corruption’ is not the only parameter, where Denmark takes the lead. Denmark is also listed first in both ‘monetary’ and ‘personal freedom’. The people of Denmark have repeatedly been ranked ‘’The World’s Happiest,’’ and the country has been ranked the world’s second most peaceful country year after year. Denmark is also in the top when the best workplaces in Europe are calculated. According to Europe’s Best Workplaces 2015, the Danish workplaces distinguish themselves on a number of key areas, such as boasting a psychological and emotionally healthy work environment, management’s ability to show appreciation, employee perception of fair pay and camaraderie at the workplace.
Innovation
Denmark is highly engaged with sustainability and innovation, and Denmark’s innovative skills are yet again supported by Forbes Magazine, who lists Denmark number ten on the list for innovation out of the 144 contributing nations. It is not the first time that Denmark is emphasised for its innovative skills, since Denmark was ranked no. 7 in WEF Human Capital Index 2015.
The data from Forbes and the ranking as no. 1 in ‘’Best Countries for Business’’ originates from reports retrieved from recognised organisations: Freedom House, Heritage Foundation, Property Rights Alliance, Transparency International, World Bank Group and World Economic Forum.