The Royal Thai Embassy in the United States recently shared on its Facebook page that Thailand has secured the ninth spot among 87 countries listed as the most business-friendly in 2023.
The annual ranking, known as the Best Countries for Business in 2023, is organized by the U.S News and World Report and takes into account a weighted average of five factors including bureaucracy, low production costs, corruption, tax-friendly environment, and transparent government regulations.
Switzerland tops the list as the most business-friendly country, followed by Luxembourg and Finland. On the other end of the spectrum, Russia is ranked as the least business-friendly country, followed by Iran and Belarus. The top 10 countries for business-friendliness in 2023 are Switzerland, Luxembourg, Finland, Sweden, Norway, Denmark, Singapore, Panama, Thailand, and New Zealand.