The Most Dynamic Economy in the World is…

Singapore!

Surprised? Nah… didn’t think so!

No surprise either that Venezuela, Nigeria and Greece are at the bottom of the pile.

Dynamism, according to the architects of the survey – Granton Thornton– is determined by reference to 22 indicators of which the following 5 are key:

  • business operating environment;
  • economics and growth;
  • science and technology;
  • labor and human capital; and
  • the financing environment

The 406 senior executives who took part in poll, which is said to provide a “true illustration” of the strength of each economy as a place for dynamic businesses to flourish, ranked the US in 10th place behind Finland, Sweden, Israel,  Austria and four others.

That the US has “solid” business growth fundamentals was affirmed but Congress’s inability to deal with fundamental questions of future tax and spending policy is seen as stifling the country’s economic growth potential.

Offshore Financial Centres might find it interesting to note that according to the survey although Ireland has suffered most from the eurozone crisis, it has managed to remain an attractive business location due to the government’s dogged defense of its low corporate tax, which currently stands at 12.5%.

Persistence never fails!

http://www.tax-news.com/news/Singapore_Ranked_Worlds_Most_Dynamic_Economy____59306.html

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