New Delhi: With its import and export efficiencies, and low cost of beginning a business, Hong Kong has again taken top honors in Bloomberg Rankings of the world's most attractive countries for business according to 2013 data.
As per the report, Canada leapfrogged from sixth place to second because of the receptivity of its consumers, measured by the size of its middle class, household consumption and GDP per capita. The US slipped to the third place because of the increase in cost of setting up business there.
It said a significant improvement in the standing of the BRIC countries. Brazil rose from 61st place to 38th; Russia too jumped from 56th to 44rd place; and India moved to the 48th slot this year as compared to the 54th position last year.
The 50 best countries were ranked on six broad criteria. They were: the degree of economic integration; the cost of setting up a business; the cost of labor and materials; the cost of moving goods; less tangible costs like inflation and the amount of corruption; and the health of its consumer base.
Here is the complete list:
