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Luxembourg ranks 1st as most business friendly country

Published Friday January 24 2020

For the third year in a row, Luxembourg is seen as the No. 1 country in the "Open for Business sub-ranking" in the Best Countries rankings, formed in partnership with BAV Group, a unit of global marketing communications company VMLY&R, and the Wharton School of the University of Pennsylvania, in consultation with U.S. News and World Report. The rankings "are based on a survey that asked more than 20,000 people from four regions to associate 73 countries with specific characteristics."

Luxembourg also held this position in 2016. The Grand Duchy is viewed, according to the survey, as "the No. 2 country for having a favorable tax environment and finishes in the top quarter in terms of transparent government practices and corruption. The World Bank scores the country No. 1 overall for allowing trade across borders, and ranks it highly for dealing with construction permits." Luxembourg is followed in the Top 5 by Switzerland, Canada, Denmark and Singapore.

The Open for Business sub-ranking is based on an equally weighted average of scores from five country attributes that relate to how open for business a country is: bureaucratic, cheap manufacturing costs, corrupt, favorable tax environment and transparent government practices. 

The Grand Duchy also has excellent results in the sub-ranking "Best Countries for a comfortable retirement" (Rank 5 of 73) and gets high scores in the categories "Best Countries to headquarter a corporation" (Rank 10 of 73), "Best Countries for women" (Rank 12 of 73) and "Best Countries for raising kids" (Rank 12 of 73). In terms of quality of life, Luxembourg ranks 13th of the 73 evaluated countries.

The Open for Business sub-ranking score has an 11% weight in the overall Best Countries ranking, in which Luxembourg makes it to rank 21 of 73 countries.

More detailed information can be found here.