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Canada top destination for business: Forbes.



 
 
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Old October 4th 11, 03:52 PM posted to misc.invest.canada
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Default Canada top destination for business: Forbes.


Canada top destination for business: Forbes.

POSTMEDIA NEWS OCTOBER 4, 2011

Canada is the top global destination for business, according to a new
Forbes ranking that touts this country's economic resilience as much of
the world battles major financial woes.

The top ranking marks a jump for Canada from fourth place in the ranking
last year, which was due in large part to scoring higher in the tax
category. Tax burden for this year's index in Canada has this country in
ninth place, a stark contrast to 2010, when Canada placed 23rd in that
category.

The report noted the adoption of the HST in Ontario and British Columbia,
which has since voted to eliminated the new tax structure.

Canada was among the top tier of countries when it came to protecting
investors and dealing with red tape, with the report saying it is
relatively easy to start a new business in Canada.

The Forbes ranking described Canada as "an affluent, high-tech industrial
society in the trillion-dollar class," and said that Canada and the U.S.
had many similarities, including its "market-oriented economic system,
pattern of production and affluent living standards."

It stressed that "while the U.S. is paralyzed by fears of a double-dip
recession and Europe struggles with sovereign-debt issues," Canada has
stayed cool in terms of its economy, with a jump of 3.1 per cent in 2010
and more growth at 2.4 per cent as forecast by the Royal Bank of Canada
expected in 2011.

The Forbes ranking of business destinations factored in 11 criteria for
more than 130 countries. Among them we technology; corruption;
personal and financial freedom; stock performance; property rights; and
taxes.

The United States was in 10th place.



Top 10 countries for business:

1. Canada

2. New Zealand

3. Hong Kong

4. Ireland

5. Denmark

6. Singapore

7. Sweden

8. Norway

9. United Kingdom

10. United States

Source: Forbes

 




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