The Philippines is the “best country to invest in,” based on rankings released by US News and World Report.
The Philippines placed first in US News’ ranking of the best countries to invest in, ahead of second-placer Indonesia as well as Poland, Malaysia, Singapore, Australia, Spain, Thailand, India, and Oman, in that order.
US News said it based its ranking primarily on a survey of 6,000 “business decision makers.” Countries were ranked on 8 equally weighted factors: corruption, dynamism, economic stability, entrepreneurship, favorable tax environment, innovation, skilled labor force, and technological expertise.
The US News and World Report said it used criteria developed by The Wharton School of the University of Pennsylvania and Y&R’s BAV Group.
The Philippines is “flooded with billions of dollars” in remittances from overseas workers, US News said on its website. The country also has a “flourishing” tourism industry.
Dependence on global trade, however, is “risky” and the country is prone to natural disasters, the publication said.