Thailand has missed out on a spot in the top 50 ‘Best Countries For Business’ by quite a wide margin, according to Forbes’ new 2015 global rankings.
Tracking 11 different metrics across 144 countries, Forbes have compiled their 10th annual list of the best countries in which to do business.
Taking the top spot is Denmark – for the sixth time since the list began – followed closely by New Zealand, Norway, Ireland and Sweden rounding out the top five.
While European countries dominate the top 25 spots, Asia Pacific is not quite as successful, with just Singapore making it into the top ten in eighth position.
Thailand flails in the bottom 50 percent of the countries ranked, coming in at 75th place.
It still manages to beat the Philippines (84th), Indonesia (93rd), Vietnam (105th), Laos (134th) and a floundering Myanmar in 140th place.
Chad was placed in 144th position as the worst country in the rankings for business. It should be noted that only countries who had available data across at least eight of the metrics measured were included.
The US slipped for the sixth year in a row to 22nd place, thanks to its limits on monetary freedom and abudance of bureaucracy and red tape. According to the Heritage Foundation, over 150 major new regulations have been introduced in the US since 2009.
The UK came in at a respectable 10th place.
Here’s how Thailand placed out of 144 countries in each individual category:
- Investor protection: 36
- Innovation: 53
- Technology: 58
- Tax burden: 58
- Property rights: 68
- Market performance: 76
- Corruption: 77
- Red tape: 78
- Trade freedom: 89
- Personal freedom: 112
- Monetary freedom: 117
Image is via 100 Thailand Vacations