Ranked: The 20 Easiest Countries for Doing Business
Contrary to popular belief, the hardest part about running a business may not be finding customers, it’s getting one started.
Depending on the public policies and application processes of your country, you might struggle or succeed in opening and operating a business.
If you live in New Zealand, for example, you can get a new enterprise up and running in half a day. If you live in Luxembourg or Argentina, however, it’s a different story─with the process sometimes taking over a year.
Today’s chart uses data from the World Bank’s annual Doing Business 2020 report, which delves into the ease of doing business in countries around the world.
Measuring the Ease of Doing Business
Now in its 17th year, the Doing Business (DB) report measures how easy it is for someone to start and run a company in an economy, using 12 key factors throughout a business lifecycle:
- Starting a business
- Employing workers
- Dealing with construction permits
- Getting electricity
- Registering property
- Getting credit
- Protecting minority investors
- Paying taxes
- Trading across borders
- Contracting with the government
- Enforcing contracts
- Resolving insolvency
Of the 190 countries reviewed last year, only 115 made it easier for entrepreneurs to do business.
Note to readers: this year’s DB score did not factor in Employing Workers or Contracting with the Government when ranking economies.
Top 20 Easiest Countries to Run a Business
|#1||🇳🇿 New Zealand||86.8|
|#3||🇭🇰 Hong Kong||85.3|
|#5||🇰🇷 South Korea||84|
|#6||🇺🇸 United States||84|
|#8||🇬🇧 United Kingdom||83.5|
|#16||🇦🇪 United Arab Emirates||80.9|
|#17||🇲🇰 North Macedonia||80.7|
In the top spot for the fourth year in a row, New Zealand only requires half a day to start a business. Singapore also stands out for having the shortest timeframe when it comes to paying business taxes and enforcing business contracts.
Only two African nations─Rwanda and Mauritius─are listed in the top 50 countries, with Mauritius being the only one to crack the top 20 list.
Latin American economies are noticeably missing from the rankings, as many countries in this region are fraught with bureaucracy and prolonged processes.
Most Improved Scores
Several developed and developing economies made significant strides in 2019 to implement reforms that opened doors for new business owners.
The Doing Business 2020 report shows that the cost of starting a business has fallen over time, particularly in developing economies.
Top 10 Most Improved Economies, 2018-2019
Saudi Arabia made the greatest improvement overall, adding 7.7 points to its score.
Bahrain also made improvements over the most number of factors (9). While Jordan showed improvement in the fewest factors (3), it showed the second highest jump in DB Score.
Gains Among Low-Income Countries
The DB 2020 study also shows that developing economies are making progress: it’s now cheaper than ever before to run a business in developing economies.
However, a significant disparity still remains when we consider the difference in business costs between high-income and low-income economies.
An entrepreneur starting a company in a low-income economy will spend about 50% of per capita income (PCI) to launch a venture, whereas an entrepreneur in a high-income economy spends only 4% PCI to accomplish the same task.
Put another way, entrepreneurs located in the bottom 50 economies spend an average six times more to open a new company as those in a high-income economy.
Entrepreneurship and Economic Growth
Generally, more entrepreneurs will enter a market where they can easily conduct business─adding more value to local economies.
While the rankings clearly illustrate the link between ease of doing business and economic growth, there are still significant barriers in place that not only deter entrepreneurship but also inhibit a relatively simple strategy for growth.
The World’s Top Car Manufacturers by Market Capitalization
The World’s Top Car Manufacturers by Market Cap
View the high-resolution of the infographic by clicking here.
Ever since Apple and other Big Tech companies hit a market capitalization of $1 trillion, many sectors are revving to follow suit—including the automotive industry.
But among those car brands racing to reach this total valuation, some are closer to the finish line than others. This visualization uses data from Yahoo Finance to rank the world’s top car manufacturers by market capitalization.
What could this spell for the future of the automotive industry?
The World’s Top Car Manufacturers
It’s clear one company is pulling far ahead of the pack. In the competition to clinch this coveted title, Tesla is the undoubted favorite so far.
The electric vehicle (EV) and clean energy company first became the world’s most valuable car manufacturer in June 2020, and shows no signs of slowing its trajectory.
|Rank||Company||Market Cap (US$B)||Country|
|#7||General Motors||$71.3||🇺🇸 U.S.|
|#12||Hyundai||$46.8||🇰🇷 South Korea|
|#17||Maruti Suzuki||$33.1||🇮🇳 India|
|#18||Li Auto||$29.5||🇨🇳 China|
All data as of January 15, 2021 (9:30AM PST)
Tesla’s competitive advantage comes as a result of its dedicated emphasis on research and development (R&D). In fact, many of its rivals have admitted that Tesla’s electronics far surpass their own—a teardown revealed that its batteries and AI chips are roughly six years ahead of other industry giants such as Toyota and Volkswagen.
The Green Revolution is Underway
The sheer growth of Tesla may spell the inevitability of a green revolution in the industry. Already, many major brands have followed in the company’s tracks, announcing their own ambitious plans to add more EVs to their vehicle line-ups.
Here’s how a selection of car manufacturers are embracing the electric future:
Toyota: Ranked #2
The second-most valuable car manufacturer in the world, Toyota is steadily ramping up its EV output. In 2020, it produced 10,000 EVs and plans to increase this to 30,000 in 2021.
Through this gradual increase, the company hopes to hit an expected target of 500,000 EVs by 2025. Toyota also aims to debut 10 new models internationally to achieve this goal.
Volkswagen: Ranked #3
By 2025, Volkswagen plans to invest $86 billion into digital and EV technologies. Considering the car manufacturer generates the most gross revenue per second of all automakers, it’s no wonder Volkswagen is looking to the future in order to keep such numbers up.
The company is also well-positioned to ride the wave of a potential consumer shift towards EVs in Europe. In response to the region’s strict emissions targets, Volkswagen upped its planned sales proportions for European hybrid and EV sales from 40% to 60% by 2030.
BYD and Nio: Ranked #4-5
China jumped on the electric bandwagon early. Eager to make its mark as a global leader in the emerging technology of lithium ion batteries (an essential component of any EV), the Chinese government handed out billions of dollars in subsidies—fueling the growths of domestic car manufacturers BYD and Nio alike.
BYD gained the interest and attention of its billionaire backer Warren Buffett, while Nio is China’s response to Tesla and an attempt to capture the EV market locally.
General Motors: Ranked #7
Also with a 2025 target year in mind, General Motors is investing $27 billion into electric and fully autonomous vehicles. That’s just the tip of the iceberg, too—the company also hopes to launch 30 new fully electric vehicles by the same year.
One particular factor is giving GM confidence: its new EV battery creations. They will be able to extend the range of its new EVs to 400 miles (644km) on a single charge, at a rate that rivals Tesla’s Model S.
Stellantis: Ranked #9
In a long-anticipated move, Fiat Chrysler and Peugeot S.A. finalized their merger into Stellantis N.V. on January 16, 2021.
With the combined forces and funds of a $52 billion deal, the new Dutch-based car manufacturer hopes to rival bigger brands and race even more quickly towards the electric shift.
Honda: Ranked #11
Speaking of fast-paced races, Honda has decided to bow out of future Formula One (F1) World Championships. As these competitions were usually a way for the company to show off its engineering prowess, the move was a surprising one.
However, there’s a noble reason behind this decision. Honda is choosing instead to focus on its commitment to become carbon neutral by 2050. To do so, it’ll be shifting its financial resources away from F1 and towards R&D into fuel cell vehicle (FCV) and battery EV (BEV) technologies.
Ford: Ranked #15
Ford knows exactly what its fans want. In that regard, its electrification plans begin with its most popular commercial cars, such as the Mustang Mach-E SUV. This is Ford’s major strategy for attracting new EV buyers, part of a larger $11.5 billion investment agenda into EVs through 2022.
While the car’s specs compare to Tesla’s Model Y, its engineers also drew from the iPhone and Netflix to incorporate an infotainment system and driver profiles to create a truly tech-first specimen.
Speeding into the Horizon
As more and more companies enter the racetrack, EV innovation across the entire industry may power the move to lower overall costs, extend the total range of vehicles, and put any other concerns by potential buyers to rest.
While Tesla is currently in the best position to become the first car manufacturer to reach the $1 trillion milestone, how long will it be for the others to catch up?
Mapped: The 50 Richest Women in the World in 2021
Fewer than 12% of global billionaires are women, but they still hold massive amounts of wealth. Who are the 50 richest women in the world?
Mapped: The 50 Richest Women in the World in 2021
View the high-resolution of the infographic by clicking here.
According to a recent census by Wealth-X, 11.9% of global billionaires are women. Even at such a minority share, this group still holds massive amounts of wealth.
Using a real-time list of billionaires from Forbes, we examine the net worth of the 50 richest women in the world and which country they’re from.
Where are the World’s Richest Women?
The richest woman in the world, Francoise Bettencourt Meyers and family own 33% of stock in L’Oréal S.A., a French personal care brand. She is also the granddaughter of its founder.
In April 2019, L’Oréal and the Bettencourt Meyers family pledged $226 million (€200 million) towards the repair of the Notre Dame cathedral after its devastating fire.
Following closely behind is Alice Walton of the Walmart empire—also the world’s richest family. Together with her brothers, they own over 50% of the company’s shares. That’s a pretty tidy sum, considering Walmart raked in $524 billion in revenues in their 2020 fiscal year.
Other family ties among the richest women in the world include Jacqueline Mars and her four granddaughters, heiresses to a slice of the Mars Inc. fortune in candy and pet food—and all of them make this list.
|Rank||Name||Net Worth ($B)||Country|
|#1||Francoise Bettencourt Meyers & family||$71.4||🇫🇷 France|
|#2||Alice Walton||$68.0||🇺🇸 United States|
|#3||MacKenzie Scott||$54.9||🇺🇸 United States|
|#4||Julia Koch & family||$44.9||🇺🇸 United States|
|#5||Yang Huiyan & family||$31.4||🇨🇳 China|
|#6||Jacqueline Mars||$28.9||🇺🇸 United States|
|#7||Susanne Klatten||$25.8||🇩🇪 Germany|
|#8||Zhong Huijuan||$23.5||🇨🇳 China|
|#9||Laurene Powell Jobs & family||$22.1||🇺🇸 United States|
|#10||Iris Fontbona & family||$21.0||🇨🇱 Chile|
|#11||Zhou Qunfei & family||$18.6||🇭🇰 Hong Kong|
|#12||Fan Hongwei & family||$17.9||🇨🇳 China|
|#13||Gina Rinehart||$17.4||🇦🇺 Australia|
|#14||Charlene de Carvalho-Heineken & family||$17.1||🇳🇱 Netherlands|
|#15||Wu Yajun||$16.3||🇨🇳 China|
|#16||Abigail Johnson||$15.0||🇺🇸 United States|
|#17||Kirsten Rausing||$13.5||🇸🇪 Sweden|
|#18||Kwong Siu-hing||$13.0||🇭🇰 Hong Kong|
|#19||Lu Zhongfang||$12.7||🇨🇳 China|
|#20||Wang Laichun||$12.7||🇨🇳 China|
|#21||Cheng Xue||$10.8||🇨🇳 China|
|#22||Massimiliana Landini Aleotti & family||$10.6||🇮🇹 Italy|
|#23||Denise Coates||$9.9||🇬🇧 United Kingdom|
|#24||Lam Wai Ying||$9.1||🇭🇰 Hong Kong|
|#25||Ann Walton Kroenke||$9.1||🇺🇸 United States|
|#26||Savitri Jindal & family||$8.7||🇮🇳 India|
|#27||Nancy Walton Laurie||$8.2||🇺🇸 United States|
|#28||Blair Parry-Okeden||$8.2||🇺🇸 United States|
|#29||Diane Hendricks||$8.0||🇺🇸 United States|
|#30||Christy Walton||$7.8||🇺🇸 United States|
|#31||Zhao Yan||$7.8||🇨🇳 China|
|#32||Zeng Fangqin||$7.6||🇨🇳 China|
|#33||Magdalena Martullo-Blocher||$7.5||🇨🇭 Switzerland|
|#34||Rahel Blocher||$7.4||🇨🇭 Switzerland|
|#35||Marie-Hélène Habert||$7.2||🇫🇷 France|
|#36||Pamela Mars||$7.2||🇺🇸 United States|
|#37||Victoria Mars||$7.2||🇺🇸 United States|
|#38||Valerie Mars||$7.2||🇺🇸 United States|
|#39||Marijke Mars||$7.2||🇺🇸 United States|
|#40||Sandra Ortega Mera||$7.1||🇪🇸 Spain|
|#41||Antonia Ax:son Johnson & family||$7.0||🇸🇪 Sweden|
|#42||Sofie Kirk Kristiansen||$6.9||🇩🇰 Denmark|
|#43||Agnete Kirk Thinggaard||$6.9||🇩🇰 Denmark|
|#44||Li Haiyan||$6.7||🇨🇳 China|
|#45||Ronda Stryker||$6.6||🇺🇸 United States|
|#46||Marie Besnier Beauvalot||$6.3||🇫🇷 France|
|#47||Zheng Shuliang & family||$6.2||🇨🇳 China|
|#48||Meg Whitman||$5.8||🇺🇸 United States|
|#49||Chan Laiwa & family||$5.8||🇨🇳 China|
|#50||Maria Asuncion Aramburuzabala & family||$5.8||🇲🇽 Mexico|
All data as of January 15, 2021 (9AM PST)
MacKenzie Scott, ranked #3 on the list, was heavily involved in the early days of turning Amazon into an e-commerce behemoth. She was involved in areas from bookkeeping and accounts to negotiating the company’s first freight contract. Her high-profile divorce from Jeff Bezos captured the headlines, notably because she gained control over 4% of Amazon’s outstanding shares.
The total value of these shares? An eye-watering $38.3 billion—propelling her to the status of one of America’s richest people.
However, MacKenzie Scott has more altruistic ventures in mind for this wealth. In 2020, she gave away $5.8 billion towards causes such as climate change and racial equality in just four months, and is a signatory on the Giving Pledge.
[Scott’s near $6 billion donation has] to be one of the biggest annual distributions by a living individual.
—Melissa Berman, CEO of Rockefeller Philanthropy Advisors
Looking towards the East, Yang Huiyan became the richest woman in Asia after inheriting 70% of shares in the property development company Country Garden Holdings. The company went public in 2007, raising $1.6 billion in its IPO—an amount comparable to Google’s IPO in 2004.
To aid frontline health workers during the pandemic, Country Garden Holdings set up robotic, automated buffet stations to safely serve medical staff in Wuhan, China.
While the 50 richest women in the world have certainly made progress, the overall tier of billionaires is still very much a boys’ club. One thing that also factors into this could be the way this wealth is spent.
As many female billionaires inherited their wealth, a large share are more inclined to contribute to charitable causes where they can use their money to make an impact. What percentage of billionaires by gender have contributed at least $1 million in donations over the past five years?
Made $1mm in donations over last 5 years (%)
|Source of wealth||👩 Female philanthropists||👨 Male philanthropists|
Meanwhile, male billionaires are more likely to donate to charity if they built the wealth themselves—and many companies that fall into this category certainly stepped up during the early days of the COVID-19 crisis.
Healthcare1 month ago
Tracking COVID-19 Vaccines Around the World
Markets1 month ago
The Year in Review: 2020 in 20 Visualizations
Technology1 month ago
Switch to Success: 20 Years of Nintendo Console Sales
Markets3 weeks ago
Prediction Consensus: What the Experts See Coming in 2021
Misc1 month ago
Chart: A Global Look at How People Spend Their Time
Misc4 weeks ago
Visualizing the U.S. Population by Race
Precious Metals3 weeks ago
How Every Asset Class, Currency, and S&P 500 Sector Performed in 2020
Technology3 weeks ago
Mapped: The Top Surveillance Cities Worldwide