Economist InThe EIU offers many categories on order to evaluate economic management activities over both the previous five years and the next five-year prospects of countries and regions, thereby assessing the quality or attractiveness of the business environment in 82 countries and economies globally.
The nations that improved the most in the EIU's ranking over the past year included Vietnam, Thailand, Belgium, Sweden, India, and Costa Rica.
Of these, Vietnam is considered to have the greatest motivation, increasing 12 places in the ranking, while Thailand rose by 10 places and India grew by six places.
In the 2023 EIU rankings, Singapore retained its position as the world's best place to do business for the 15th consecutive year and will continue to be the best place to conduct business over the next five years. Canada and Denmark shared the second place.
Meanwhile, the countries that were most significantly downgraded include China, Bahrain, Chile, and Slovakia. China is the country with the deepest drop globally, falling 11 places from a year earlier.
