It’s likely no surprise that Hong Kong has emerged as the world’s best country to be your own boss, according to UK business site Expert Market. Other countries that did well in the study included the United States (No. 2), South Korea (No. 3), the United Arab Emirates (No. 4), and the United Kingdom (No. 5).
Spain, New Zealand, Estonia, Bulgaria, and the Czech Republic are sixth, seventh, eighth, ninth and tenth respectively.
The study, which compared 57 countries, looked at average internet speed, access to credit, cost of a coffee, cost of living, income tax, the availability of free wifi, transport networks, and the cost and ease of starting a new business.
Freelancing Capitals: World’s 10 Best Countries To Be Your Own Boss
- Hong Kong
- United States
- South Korea
- United Arab Emirates (UAE)
- United Kingdom
- New Zealand
- Czech Republic
The United Arab Emirates (UAE) ranked 4th on the list. That’s not the only measure that the UAE is performing well in, though. HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, says the Emirates is ranked number one globally in 50 different international development indices.
The country was a leader in terms of government spending and decision making, tolerance for foreigners, technology, and partnership between public and private sectors, among other factors, HH Sheikh Mohammed said. “Our goal is to lead globally in all areas, and our development is advancing daily, while competition will only increase our excellence,” His Highness continued.
To identify the best places to be your own boss, the index compared 57 countries across the globe across eight different factors. In our study we compared:
- Cost of living
- Income tax
- Access to credit
- Average internet speed
- Transport networks
- Free wifi availability
- Cost of a coffee
- Ease of starting a business
It calculated each country’s weighted average using data from all the factors above to work out an overall score.