Cyprus appears on the 32nd place in the Forbes list. The annual list shows the countries that are the best and worst destinations for business in 2017. Cyprus was ranked just above the United Arab Emirates, with an average annual income per capita at €22000 and 1.5% GDP growth. For measuring the countries’ performances Forbes assesses 11 different indicators: property rights, innovation, taxes, technology, corruption, freedom (personal, trade and financial), red tape, investor protection and stock market performance.
Sweden came 1st on the list, following a steady growth in the last decade, while 7 out of top 10 are European countries. Sweden, with GDP growth of 4.2% over the last year, a figure which is exceeded only by Ireland and Luxembourg, was ranked 1st in 7 out of the 11 indicators used at the evaluation by Forbes.
The United Kingdom managed to rise from 10th to 5th place, despite the turmoil caused by the result of the referendum which decided for the country to exit the EU. The US were found in the 23rd position, continuing the downward trend in the list since 2006, when the country was ranked 1st among the best destinations for business.