Iceland 15th best country for business

Iceland is the fifteenth best country in which to do business, according to the Forbes Best Countries for Business ranking for 2015.

The list analyses various economic, social and legal aspects affecting the business environment in 146 countries around the world. Iceland places 15^th out of 146, with excellent ratings under many criteria.

“Iceland’s Scandinavian-type social-market economy combines a capitalist structure and free-market principles with an extensive welfare system,” reads the Forbes 2015 profile on Iceland.

“Iceland’s economy has been diversifying into manufacturing and service industries in the last decade, particularly within the fields of software production, biotechnology, and tourism.”

Iceland scores its best marks in the fields of personal freedom (best in the world), and trade freedom and technology (8^th in world for both).

Its relative disadvantages include tax burden (42^nd in world) and monetary freedom (74^th).

Denmark, Hong Kong and New Zealand top the overall list with Libya, Chad and Guinea ranked as the world’s worst places to do business. The full list can be found here.