After ten years at the top Singapore has been pushed out of top place as the easiest place to do business by upstart New Zealand, according to a new World Bank study
The World Bank Report measures regulations related to the launch, operation and expansion of private sector businesses in 190 countries. Essential tools such as electricity, enforcing contracts, resolving insolvency and labor market regulation.
With one of the fastest growing economies in the «developed world» New Zealand, moved to the top of the rankings with the fewest number of procedures to start a business and the shortest time to fulfill them, along with strong legal rights, the World Bank stated.
Hong Kong Moves Up
The long time leader Singapore slipped to second place, followed by Denmark, Hong Kong moved up one place to fourth followed by South Korea, Norway, the U.K. (pre Brexit) and the United States.
Also for the first time gender components were added to the World Bank's study, these include a woman's ability to own, use and transfer property.
Venezuela, Libya, Eritrea and Somalia made up the bottom of the rankings.
