Denmark is no. 9 on Bloomberg’s best countries for business 2013

For the second year in a row, Bloomberg Rankings presents its global analysis of countries based on how attractive they are to business. Denmark has leapfrogged from last year's 17th space and is now number nine in Europe, only surpassed by the Netherlands and Germany.

Especially business start-up costs are low in Denmark, and on this factor Denmark ranks 5. Denmark also scores high on the factors economic integration and less tangible costs where Denmark ranks 10 and 3, respectively.

-Denmark’s leap could be caused by the fact that Northern Europe has done better than other European economies during the crisis. Another factor is the Danish government that works to make Denmark more open and has modified the visa regulations and removed border barriers, says Susanne Hyldelund, Director, Invest in Denmark, and ads:

-Denmark often scores high on these league tables. The World Bank has placed Denmark number one in Europe in their "ease of doing business" index, and Transparency International considers Denmark to be the least corrupt country in the world.

For the study, Bloomberg Rankings has analysed data from 11 sources. In total, 161 nations have been ranked on six broad criteria including: 

  1. the cost of starting a business (10%)
  2. the cost of labour and materials (20%)
  3. the cost of moving goods (20%)
  4. each country's level of global economic integration (20%)
  5. the "readiness" of its consumer base to participate in economic activity (20%)
  6. "less tangible" costs such as inflation and accounting adaptability (10%)

Scores for individual factors were calculated by using the percentage of the maximum for index-based and qualitative criteria. In the 2011 ranking, scores were calculated on a per cent-rank basis.

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Sources: Bloomberg, CIA World Factbook, Conference Board, Heritage Foundation, International Monetary Fund, International Labor Organization, Transparency International, United Nations, World Bank, World Health Organization and World Trade Organization.