Singapore has been declared the best country in the world for investment in travel and tourism sector for 2019, according to the latest ranking by the CEOWORLD magazine. The United States, France, Spain, and Germany rounded out the top five.
Malaysia came in at number six and Japan at seven. The CEOWORLD magazine rating puts the United Kingdom in 8th place, ahead of Thailand (9th) and the United Arab Emirates (10th).
Australia has been recognized as the 11th most attractive country to invest in for tourism, followed by Canada (No.12) and Switzerland (No.13). Meanwhile, Italy ranked No. 14 in the CEOWORLD magazine’s ranking of the most attractive countries for investment in travel and tourism sector.
India came in fifteenth place, followed by Austria (sixteenth), Portugal (seventeenth), China (eighteenth), and Hong Kong, ranked nineteenth. Out of 138 best countries for investment in Travel and Tourism, Saudi Arabia ranked No. 20th.
The report is aimed at measuring a destination’s performance and the factors that make it attractive to develop business in the travel and tourism sector. Chad came bottom, at number 138. The top five countries least competitive in Travel and Tourism, according to the report, are 1. Chad, 2. Yemen, 3. Liberia, 4. Burundi, 5. The Islamic Republic of Pakistan.
South Korea took 22nd place on the list and is located between the Netherlands (21st) and New Zealand (23rd). Mexico ranked 24th, and Norway and Denmark 25th and 26st, respectively.
Best countries for investment in travel and tourism sector, 2019
|10||United Arab Emirates|
|19||Hong Kong SAR|
|87||Trinidad and Tobago|
|102||Bosnia and Herzegovina|
|119||Iran, Islamic Rep|
|130||Mauritania, Islamic Rep|
|133||Congo Dem Rep|
|134||Pakistan, Islamic Rep|
Methodology: The 2019 Business Confidence Index, the latest edition of the annual executive report tracks and ranks 138 countries likely to attract the most investment in the travel and tourism sector. Singapore looks set to remain the world’s most investor-friendly location in 2019, retaining its number-one spot from the 2017-18 period. For the best countries to invest in ranking, CEOWORLD magazine focused on 12 attributes:
- Market size
- Property rights
- Favorable tax laws
- Fast-growing economy
- Investor related laws
- Availability of workforce
- Investor friendly environment
- Government red tape and restrictions
- Untapped potentials and opportunities
- Ability to access investment fund if need be
- Good government fiscal and monetary policy
Responses from over 98,000 survey participants — who act as decision-makers in business around the globe — were then used to determine the ranking. We have also analyzed the market size of the global travel industry in 2019 by region. The EMEA region held the largest share of the travel industry worldwide with market size of $644 billion, followed by Asia Pacific ($506 billion), and North America ($501 billion). The region with the smallest travel industry was Latin America with market size of $89 billion.
While every effort has been taken to verify the accuracy of this information, The CEOWORLD magazine cannot accept any responsibility or liability for reliance by any investor on this report or any of the information, opinions or conclusions set out in this report.
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