Saudi Arabia ranks second in global investment destination list
Saudi Arabia has been ranked second in the list of “2019 Best Countries to Invest In”, according to US News report.
The ranking by The Wharton School of the University of Pennsylvania and BAV Group, a unit of global marketing communications company VMLY&R, draws from the results of a global perceptions-based survey and ranks countries based on the highest scores among nearly 7,000 business decision makers.
The list is based on a compilation of eight equally weighted country attributes: corrupt, dynamic, economically stable, entrepreneurial, favorable tax environment, innovative, skilled labor force and technological expertise.
Meanwhile, Saudi Arabia is also ranked ninth in the list of “world’s most powerful countries.” The US, Russia and China take the top three places.
Below is the list of the top five countries for investment.
1) Uruguay took the top spot, moving 12 positions from its 2018 ranking. Business decision makers rank the South American nation higher for providing a favorable tax environment, being dynamic and higher for its economic stability.
2) Saudi Arabia has a strong performing economy, making it an attractive and promising recipient of foreign direct investment, according to United Nations data. The World Bank projects Saudi Arabia’s economy to continue to grow. It estimates the Kingdom’s GDP at $684 billion.
3) Luxembourg is seen as having one of the world’s most favorable tax environments.
4) Costa Rica is seen as one of the world’s eighth-best tax-friendly environment, according to the 2019 Best Countries rankings. Foreign direct investment in the Central American country grew by 18 percent to $3 billion, according to a 2018 UN report.
5) India was one of the top 10 countries attracting inflows of foreign direct investment, according to a 2018 UN report. The South Asian nation is also seen in the 2019 Best Countries rankings as having a comparatively skilled labor force.