Forbes magazine ranks Jamaica the number one Caribbean country for business

January 25, 2016

Jamaican can this morning boast that their country is not just the home of world class talent but it is the leading Caribbean country for business.

In a report published by international business magazine, Forbes, Jamaica ranked 59th out of a total of 144 'Best Countries For Business.' This placement made Jamaica the only Caribbean country to rank in the top 60. 

This is a significant move from 64th in Forbes' 2014 report.

According to Forbes, the analysis was based  on a number of factors that were equally graded.

They are: property rights, technology, innovation, taxes, personal, trade and monetary freedom, corruption,  red tape, investor protection and stock market performance. 

But according to Forbes, Jamaica's economy faces many challenges to growth.

They listed factors such as, high crime and corruption, large-scale unemployment and underemployment and a debt rate that significantly outweighs the country's economic performance.

 

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