Jeddah, Sep 27: Saudi Arabia ranks first among Arab countries in terms of conditions for setting up corporate headquarters and at 23rd worldwide, according to rankings made by US News & World Report.
The ranking is based on feedback from more than 4,000 businessmen who are also decision-makers; it does not rank countries only for their tax percentage on corporations, but also looked at the key elements that attract corporate executives, and employees and their families, such as workplace environment and lifestyle of the countries ranked.
According to US News, the businesspersons gave their feedback on “nine equally weighted country attributes: Connected to the rest of the world, corrupt-free, economically stable, educated population, favorable tax environment, is a place I would live, safe, well-developed infrastructure and well-developed legal framework.”
Arab countries occupied only six spots on the list.
Saudi Arabia is followed by Morocco on 40th place, Jordan at 43rd, Tunisia 50th, Egypt 51st and Algeria 59th.
Worldwide, Canada came first, followed, in order, by Australia, Sweden, Germany, Luxembourg, United Kingdom, Netherlands, New Zealand, Denmark and the US, which ranked 10th.
Colombia and Iran came at the bottom, mainly due to corruption and political instability.
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