Forbes: Denmark World's Best Country for Business
For the second year in a row, Forbes Magazine ranks Denmark no. 1 in their global league table “Best Countries for Business”. Forbes has been publishing the Best Country list for a decade, and Denmark has ranked first in six of the 10 annual editions.
Transparent and efficient business regulation
Just recently, the World Bank ranked Denmark first in Europe in their Doing Business Report, and the Danish Minister for Foreign Affairs, Kristian Jensen, hopes that the recurring international recognition of the Danish business climate will attract more foreign investors:
“Creating the best conditions for a striving business sector is a key priority for the Danish Government, and I am very pleased to see that our efforts resonate in international rankings. We are determined to make it even easier and more worthwhile to do business in Denmark and to attract more foreign investments. Therefore, we have launched a range of initiatives that will improve framework conditions for all companies - Danish and foreign - who do business in Denmark.”
For foreign companies who want to assess their business opportunities in Denmark or need help in the establishment process, Invest in Denmark is an ideal first stop.
Forbes concludes that despite the praised welfare system, Denmark is very much a market-based economy with a great business climate. Denmark ranks in the top 20 in all but one of the 11 metrics used to measure the Best Countries for Business. Denmark excels in the categories freedom and low corruption, and the regulatory climate is one of the world’s most transparent and efficient.
Flexible labour market and productive workforce
One of the keys to Denmark’s pro-business climate is the flexible labour market known as “flexicurity”, where companies can easily hire and fire workers while out-of-work adults receive unemployment benefits. The Danish workforce is among the most productive in Europe and no restrictions apply regarding overtime work, allowing companies to operate 24 hours a day, 365 days a year.
About Forbes’ Best Countries for Business
The Best Countries for Business are determined by grading 144 nations on 11 different factors: property rights, innovation, taxes, technology, corruption, freedom (personal, trade and monetary), red tape, investor protection and stock market performance. Each category is equally weighted. The data comes from reports from recognised organisations: Freedom House, Heritage Foundation, Property Rights Alliance, Transparency International, World Bank Group and World Economic Forum.