Thailand Ranked 9th Among Most Business-Friendly Countries in 2023

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.

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