Business Environment

Georgia Plummeted 9 Spots in Forbes ‘Best Countries for Business’ Ranking

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Photo: management-degree.net

Georgia went down nine positions in the Forbes 2018 ranking of the best countries for business compared to last year. In the new ranking, Georgia holds the 52nd place for doing business.

According to Forbes, Georgia's results are the same compared to the previous ratings except for monetary freedom, in which Georgia plummeted to number 81. The decline is presumably caused by De-dollarization regulations.

Among the evaluation criteria, Georgia has its biggest score in investor protection, and ranks second in this aspect. Innovation is the least developed area in the country, with Georgia ranking 117th.

Georgia’s rankings according to the evaluation criteria breakdown:

Trade Freedom - 6th in the world
Monetary freedom - 81st in the world
Protection of intellectual property - 88th in the world
Innovation - 117th in the world
Technologies - 69th in the world
Lack of bureaucracy - 4th in the world
Investor protection - 2nd in the world
Corruption - 38th in the world
Personal freedom - 65th in the world
Tax Burden - 22nd in the world

The top ten countries for doing business according to Forbes are:

  • The United Kingdom
  • New Zealand
  • The Netherlands
  • Sweden
  • Canada
  • Hong Kong
  • Denmark
  • Ireland
  • Singapore
  • Switzerland

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