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Business News of Tuesday, 28 January 2020

Source: Class FM

Ghana places 5th in Africa in 2020 Best Countries report


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Ghana placed 5th in Africa and number 67 in the world, according to the 2020 Best Countries Report put together by US News & World Report and supported by Wharton Business School of University of Pennsylvania and BAV Group.

Egypt was 1st in Africa and number 36 in the world while South Africa was 2nd in Africa and 39th in the world.

Morocco and Kenya were 3rd and 4th, respectively in Africa and 39 and 40 in the world.

The 2020 Best Countries Report is based on how global perceptions define countries in terms of a number of qualitative characteristics, impressions that have the potential to drive trade, travel and investment and directly affect national economies.

The report covers perceptions of 73 nations.

The study and model used to score and rank countries were developed by BAV Group and The Wharton School of the University of Pennsylvania, specifically professor David J. Reibstein, in consultation with U.S. News & World Report.

Attributes were grouped into nine sub-rankings that rolled into the Best Countries ranking: Adventure, Citizenship, Cultural Influence, Entrepreneurship, Heritage, Movers, Open for Business, Power and Quality of Life.

Switzerland was 1st in the world followed by Canada and Japan in 2nd and 3rd, respectively.

In 4th, 5th, 6th and 7th were Germany, Australia, UK and US, respectively.

Sweden, Netherlands and Norway were number 8, 9 and 10, respectively.

Out of the 10 best countries in the world, six were European countries.

Collectively, the 73 nations represented in the 2020 Best Countries rankings account for nearly 95 per cent of global gross domestic product (GDP) and represent about three-quarters of the world’s population.

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