The Best and Worst Places for Ease of Doing Business
The Chart of the Week is a weekly Visual Capitalist feature on Fridays.
When it comes to supporting new businesses, not all jurisdictions are created equal.
Whether it’s the basics, like hooking up electricity and registering the business, or more complex regulatory hurdles, your location can impact the success of your venture in a big way. What makes a country business-friendly, and where are the most hassle-free places to open up shop?
The Ease of Doing Business ranking, by World Bank, breaks countries’ complex regulatory ecosystems down into quantifiable components. The resulting index and ranking system is a global look at who’s making it easy to do business, and which countries are struggling.
A Global View of Doing Business
The visualization below looks at the score (0-100) of 190 economies around the world, as well as a spread between high and low scoring factors in the subindices. While two countries may have the same score, one might have a much wider “spread” which points to outlaying successes or serious challenges in their regulatory framework.
Luxembourg, for example, ranked number one in the Trading Across Borders factor, but 173rd in Getting Credit.
Note: click the graphic below of the full list to expand to a higher resolution.
View a high resolution version of this graphic.
Of the 190 economies covered in the report, New Zealand comes out on top for the third year in a row. Singapore and Denmark round out the top three.
The United States, whose ranking has been slipping in recent years, came in at 8th spot.
This ranking offers up some surprises, such as Macedonia and Georgia, which are both in the top 10. Georgia makes it easy to start a new business, and has the lowest number of procedures to get the process going.
Afghanistan had the biggest year-over-year score increase after making big strides in enhancing the legal framework for businesses.
Rwanda is ranked at a very respectable 29th place – the only low-income economy to crack the top 50.
Building the Index
The data for the ranking is compiled from over 12,500 expert contributors in 190 countries who deal with business regulations on a daily basis. The final score is based on the average of 11 factors:
- Starting a business – Procedures, time, cost, and minimum capital to open a new business
- Dealing with construction permits – Procedures, time, and cost to build a warehouse
- Access to electricity – Procedures, time, and cost required to obtain an electricity connection for a new warehouse
- Registering property – Procedures, time, and cost to register commercial real estate
- Procuring credit – Strength of legal rights index, depth of credit information index
- Protecting investors – Indices on the extent of disclosure, extent of director liability and ease of shareholder suits
- Paying taxes – Number of taxes paid, total tax payable as share of gross profit, and hours per year spent preparing tax returns
- Trading across borders – Number of documents, cost, and time necessary to import and export
- Enforcing contracts – Procedures, time, and cost to enforce a debt contract
- Resolving insolvency – The time, cost, and recovery rate (%) under bankruptcy proceeding
- Labor market regulation – Flexibility in employment regulation and aspects of job quality
The 50 Biggest Video Game Franchises by Total Revenue
Video games generate billions in revenue every year. Where the majority of this revenue comes from, however, may be surprising to you.
The 50 Biggest Video Game Franchises by Total Revenue
When the world’s first video game, Tennis for Two, was revealed at a science fair in 1958, people were fascinated—there was clearly something special.
Since these humble beginnings, video games have rode waves of technological advancements to burgeon into a $100+ billion industry. To visualize this success, today’s infographic from TitleMax lists the top 50 highest-grossing video games franchises.
While this feat is impressive on its own, the way many of these franchises generate their revenue may come as a shock.
How Do Video Games Generate Billions?
Video games first saw large-scale commercial success in the 1980s, in what some describe as the “golden age of arcade games”. As arcades popped up across America, renowned classics like Pac-man and Space Invaders raked in large sums of money, one coin at a time.
Today, there are two revenue models generally followed by video game publishers—the traditional pay-to-play (P2P) model, and the newer free-to-play (F2P) model.
For much of the industry’s modern history, P2P models have been the default option. A developer incurs costs to produce its games, so it sells them to consumers to recover costs and make a profit.
Under a F2P model, however, the developer essentially distributes its games for free. Players don’t have to pay anything if they don’t want to, and the developer runs the risk that it may never recoup its costs.
So why would a developer ever choose a F2P model? Let’s look at industry data from 2019:
|Platform||Free-to-play (F2P) Revenue||Pay-to-play (P2P) Revenue|
Those aren’t typos. F2P games accounted for a whopping 82% of industry revenue in 2019. What’s more, is that this gap continues to grow: since the previous year, F2P revenue grew 6%, while P2P revenue fell by 5%.
The Power of Discretionary Spending
There’s a number of F2P franchises listed in today’s graphic which have grossed well over a billion dollars in total revenue.
|#15||League of Legends||Riot Games¹||PC||$8.4B|
|#21||Arena of Valor||Tencent||Mobile||$6.4B|
|#23||Clash of Clans||Supercell²||Mobile||$6.0B|
|#27||Candy Crush Saga||King³||Mobile||$4.9B|
|#46||Fortnite||Epic Games⁴||Console, Mobile, PC||$2.5B|
¹wholly-owned subsidiary of Tencent, ²majority-owned subsidiary of Tencent, ³wholly-owned subsidiary of Activision Blizzard, ⁴Tencent owns a 40% stake.
Because these types of games are often published for PC or mobile phone (most people have at least one of these), their accessibility becomes a key advantage. This is especially true in China, where video game consoles like Xbox have been banned in the past.
Yet, simply amassing a large player base isn’t enough. With no money being paid upfront, developers must create compelling incentives for players to willingly part with their cash.
League of Legends
League of Legends, one of the world’s most popular video games, is widely considered a successful pioneer in this regard.
When developer Riot Games chose a F2P model for its game, it took a gamble. The model was largely unproven for titles of its genre, and it’s main source of revenue was set to be the sale of purely cosmetic items called “character skins”.
Nobody would have tried Legends if we put a price point in front of it because the game is tough to sell
—Marc Merrill, Co-founder of Riot Games
Part of the game’s incentive to spend comes from its longevity—League of Legends has just entered its 11th year. Rather than release a new title, the developer makes continuous improvements to the existing game, with each iteration dubbed as a new “season”.
If a traditional P2P game represents a movie, League of Legends could then be considered a long-running TV show. For example, while there’s been one League of Legends since 2009, there’s been 11 Call of Duty titles over that same time frame.
Joining the Party
Some of the world’s most successful video game franchises, which have historically published games under the P2P model, are also expanding into free games with great success.
For Pokémon (#1 in gross revenue), product diversification is nothing new. While the franchise manages a universe of offerings from physical merchandise to movies, its free mobile augmented reality (AR) game, Pokémon Go, may be one of its most successful endeavors.
The game, which leads players out into the real world to catch virtual monsters, was a massive sensation when it launched in 2016. In fact, it was so popular (and distracting) it’s been estimated to have contributed to more than 100,000 car accidents.
Four years since its release, Pokémon Go is a shining example of what the F2P model can achieve—the game has racked up over 1 billion downloads and generated an incredible $3 billion in revenues.
|Year||Gross Revenue||% Change|
Source: Sensor Tower Store Intelligence
Part of Pokémon Go’s incentive to spend comes from its incredibly unique social experience—it
turns real world landmarks into hubs where players can gather. By simply leveraging the capabilities of existing smartphones, it’s also extremely accessible.
Is Free the New Norm?
As more and more franchises successfully expand into free games, it’s clear that the F2P model will be the primary driver of future growth. The relatively higher accessibility of F2P games is also crucial to tap into the quickly growing esports industry.
However, traditional P2P games, which are now being called “premium games”, still have some merit to them. These games are often associated with a higher level of quality which people are happy to pay for.
Yet, as the legitimacy and success of the F2P model continues to develop, this quality gap could also shrink in the future.
Editor’s note: The revenue figures in today’s infographic include merchandise and other related products.
Where Are the Oldest Companies in Existence?
Which companies have stood the test of time? This detailed map highlights the oldest company in every country that is still in business.
Where Are the Oldest Companies in Existence?
View the high resolution version of this infographic by clicking here.
In just a few decades, it’s possible that some of today’s most recognized companies may no longer be household names.
Corporate longevity, or the average lifespan of a company, has been shrinking dramatically.
In the 1960s, a typical S&P 500 company was projected to last for more than 60 years. However, with the rapidly transforming business landscape today, it’s down to just 18 years.
The Companies With the Strongest Staying Power
Even with companies skewing younger, there are always exceptions to the rule.
Luckily, many companies around the world have stood the test of time, and today’s detailed map from Business Financing highlights the oldest company in existence in each country.
For centuries, here are the world’s oldest corporations which have made their mark:
|578||Kongō Gumi Co., Ltd.||Japan||Construction|
|803||St. Peter Stifts Kulinarium||Austria||Service Industry (Restaurant)|
|862||Staffelter Hof||Germany||Distillers, Vintners, & Breweries (Winery)|
|864||Monnaie de Paris||France||Manufacturing & Production (Mint)|
|886||The Royal Mint||England||Manufacturing & Production (Mint)|
|900||Sean’s Bar||Ireland||Service Industry (Pub)|
|1040||Pontificia Fonderia Marinelli||Italy||Manufacturing & Production (Bell foundry)|
|1074||Affligem Brewery||Belgium||Distillers, Vintners, & Breweries|
|1135||Munke Mølle||Denmark||Manufacturing & Production (Flour Mill)|
|1153||Ma Yu Ching’s Bucket Chicken House||China||Service Industry (Restaurant)|
Whether they were born out of necessity to support a rapidly growing population—requiring new infrastructure and more money circulation—or simply to satisfy peoples’ thirst for alcohol or hunger for fried chicken, these companies continue to play a lasting role.
The Oldest Company in Every Country, by Region
Let’s dive into the regional maps, which paint a different picture for each continent.
In the following maps, countries are color-coded based on the major industry that the oldest company falls under:
- Primary: Natural resources
- Secondary: Manufacturing and processing
- Tertiary: Services and distribution
- Quaternary: Knowledge and information
Notes on Methodology:
This research considers both state-run and independent businesses in their definitions. For countries where data was hard to pin down, they have been grayed out.
As well, since many countries have a relatively new inception, present-day names and borders have been used. The map does not factor in older companies that are no longer in operation, or if it was unclear whether they were still open.
Click here to explore the full research methodology.
Mexico’s La Casa de Moneda de México (founded 1534) is the oldest company across North America, and the first mint of America. Owned by the Spanish conquistador Hernán Cortés, it was where the famous ‘pieces of eight’, or Spanish dollars were created.
In the U.S., the Shirley Plantation in Virginia is an ongoing reminder of the history of slavery. First founded in 1613, business actually began in 1638—and as many as 90 slaves were under indentured labor on the estate growing tobacco.
Further north, Canada’s Hudson’s Bay (founded 1670) was at the helm of the fur trade between European settlers and First Nations tribes—the two parties agreed on beaver pelts as a common, valuable trade standard.
Three of the five oldest companies in South America are mints—specifically in Brazil, Colombia, and Peru.
The oldest of these mints, Casa Nacional de Moneda in Peru, was built on order from Spain and established in 1565. After the great influx of newly-mined silver from America to Europe, the Spanish crown outlined to King Felipe II that building a mint would give the colony economic benefits and more control.
In total, 15 of Europe’s oldest companies are related to the food and beverage industries, from distilleries, vintners (winemaking), and breweries alongside restaurants and pubs. Austria’s St. Peter Stifts Kulinarium (founded in 803) is Europe’s oldest restaurant, located inside the St. Peter’s Abbey monastery.
Although Germany is famously known for its beer culture, its oldest company is in fact the Staffelter Hof Winery (founded in 862). Today, Germany is still a top wine country, with the industry generating up to $17 billion in revenue per year.
Asia has six oldest companies in the banking and finance category, as well as another six in the aviation and transport sector. The continent is also home to two of the world’s oldest companies, located in Japan and China.
The Japanese temple and shrine construction company, Kongō Gumi Co., Ltd. (founded in 578) has weathered a few storms over the millennia, from nuclear bombs to financial crises. In 2006, it was bought by the construction conglomerate, Takamatsu Construction Group Co., and continues to operate today.
In neighboring China, Ma Yu Ching’s Bucket Chicken House has endured dynasties of change as well. The company’s simple premise has come a long way, and it was named a cultural heritage in the country’s Henan Province.
Africa’s oldest companies are another vestige of the colonial legacy, with 11 transport companies—airlines, ports and shipping, and railways—and 9 postal services.
In fact, Cape Verde’s Correios de Cabo Verde (postal service, founded in 1849) and the DRC’s Société nationale des Chemins de fer du Congo (national railway company, founded in 1889) still go by their Portuguese and French names respectively.
Banking is another one of the oldest industries, with 17 companies across Africa. Zimbabwe’s Standard Chartered branch has been around since 1892, a subsidiary of its London-based parent company.
Australia officially became a country on January 1st, 1901—but its oldest company, the Australia Post (founded in 1809) precedes this by almost a century.
Interestingly, just one more old company could be located for this region, which is the Bank of New Zealand—one of the country’s Big Four banks.
All in all, these oldest companies paint a historical picture of the major industries which have shaped entire regions.
Did you recognize any on the list?
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