March 6, 2015

Doing Business 2015

Doing Business 2015 – Going Beyond Efficiency is a flagship report from the World Bank Group based in Washington DC.  This global thematic report measures business regulations whether they enhance or constrain business activity in 189 economies around the world (download report here).  Government with an efficient bureaucracy plays a critical role in providing a right environment where individuals and businesses will thrive.  Too much regulation is a recipe for economic stagnation whereas too little regulation can lead to economic disaster (remember the Great Recession?).

In this report , the countries are ranked by the Ease of Doing Business score, which is a composite of the following 10 indicators:  1) Starting a business, 2) Dealing with construction permits, 3) Getting electricity, 4) Registering property, 5) Trading across borders, 6) Getting credit, 7) Protecting minority investors, 8) Enforcing contracts, 9) Resolving insolvency, & 10) Labor market regulation.
Parallel coordinates were used to visualize this multi-dimensional data.  The best way to utilize this visualization is to filter the data by region, income, or country.  Otherwise if all 189 countries were displayed, the chart would become a colorful abstract visualization with too much information!

The top 3 economies that make it easiest to do business in 2015 are Singapore, New Zealand, and Hong Kong, ranked 1, 2, and 3, respectively.  Now go ahead and compare countries of your choice to see which nation is more business-friendly so that you can open your oversea office or start your business there!