Expanding internationally provides a company not only with diversification and financial growth, but also with exposure to new cultures. According to a new report by Cartus Corporation, the top 10 countries for relocation in 2017 are:
- United States
American business culture is known for prizing punctuality and efficiency. This, combined with a powerhouse economy and workforce of people from a vast variety of ethnic and cultural backgrounds, makes the U.S. a prominent player in the global market. The U.S. provides companies with no value-added tax (VAT) and a favorable exchange rate. A highly skilled, hardworking and educated workforce round out strong reasons to do business there.
2. United Kingdom
The UK has a long and rich history, and boasts a variety of advantages for companies: a healthy economy, liberal policies that protect the country’s growth, and a large, culturally diverse population. It is currently known as one of the world’s leading financial and service centers, and has recently attracted many projects in those sectors. However, the decision to leave the EU is likely to cause some continued uncertainty, with other countries possibly securing investment opportunities that might have gone to the UK.
Switzerland’s dominant industries include machinery, chemicals, precision instruments, banking and insurance—and has one of the world’s most stable economies and political systems. The country has achieved one of the highest per capita incomes in the world, along with low unemployment rates and prominent labor specialization.
As the APAC regional headquarters for many western firms, Singapore enjoys a consistent volume of employee relocations from one year to the next. Singapore is well established as a hub for services such as software and IT, business and financial services. Pharmaceutical and consumer products also have large populations of expats. It has a reputation for governing with integrity and is considered to be one of the easiest places to do business.
The Netherlands continue to have strong relocation volumes, as the country is often the European headquarters for many firms. An increase is also possible in coming years due to Brexit. Because it is a country that has historically been committed to neutrality, tolerance and global cooperation, the Netherlands has become an ideal place for international organizations.
As the industrial powerhouse of Europe with the second largest financial concentration after London, Germany is a prominent player in the global marketplace. Because it shares borders with other major economies in central Europe, companies based there have access to both eastern and western European markets with millions of customers. Its efficient infrastructure contributes to goods and services being delivered competently and quickly. There is also an outward appreciation of innovation and technology in the country, from computer software and electronic components to healthcare devices and automotive technology.
India, which is becoming more business-oriented than ever, has a great deal to offer businesses looking to establish a presence there. It’s massive size, along with a newly hospitable regulatory environment and more investment-friendly political policies, provide companies with access to a highly skilled, cost-efficient workforce and opportunities for growth.
The People’s Republic of China continues to welcome foreign businesses in the high-tech, agricultural, forestry, telecommunication, automotive and energy industries, among others. A major player in the global economy with a dynamic business environment, China is an increasingly critical location for companies. Advantages to doing business there include access to a continually growing market, a skilled labor force, a daunting but favorable business atmosphere, a rapidly growing economy and increasing consumer wealth.
A strong economy and a labor force with a high percentage of college-educated individuals are two of many reasons companies choose to establish or grow their businesses in Canada. A multicultural society that blends British and French traditions, among others, Canada offers companies low business taxes, a competitive research and development environment and a sound banking system and economy. Low cost of living, favorable exchange rates and an environment that welcomes foreign investment are additional reasons companies decide to set up shop in Canada.
Favorable corporate tax rates and a skilled, young, highly educated workforce attract a variety of industries to the shores of Ireland. A thriving research, development and investment sector, along with strong government support for productive collaboration between industry and academia add to the benefits. Other factors include excellent IT skills and infrastructure, and an advanced telecommunications infrastructure with state-of-the-art optical networks and international connectivity.
For more information, please visit www.cartus.com.
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