By Daniel Hunter
New research from a visa application help website has revealed the top 10 countries worldwide for businesses that are interested in expanding their operations to consider moving to.
With business booming in some areas of the world, but facing a real struggle in others, savvy companies need to look to where they can go to capture new markets and expand their global influence.
Based on a variety of factors, including GDP, national debt and inflation rates, the team at GlobalVisas has compiled a list of countries with the best prospects for future investment, so that businesses looking to move or expand can take the locations into account.
With the most advanced economies in the world having suffered in the global financial crisis, the potential is there for emerging economies to take over in the world of business. Global Visas has identified the following ten countries as those with the most potential for businesses looking to expand or set up:
1. China - with an ever improving GDP and a keen interest in Western business investment, China is the frontrunner for those businesses looking to invest abroad. With the largest population in the world and the fastest growing major economy, China is an economic powerhouse.
2. South Korea - one of the Asian tigers heavily dependent on international trade and one of the few developed countries to avoid recession in the global financial crisis; making it a good bet for businesses looking to set up in a new territory.
3. Thailand - an export dependent country and one of the fastest growing economies in Asia.
4. Peru - with low inflation and low government debt, Peru is one of the world’s fastest growing economies, earning it a rightful sport in the top 10 countries that businesses should consider expanding to.
5. Turkey - a country eager to join the European Union, but one that has avoided the financial problems of the Eurozone with improving GDP, increasingly driven by its industry and service sectors.
6. Chile - another of the fast rising South American countries with GDP expected to expand between 4 and 5 per cent in 2013.
7. Russia - this resource rich country is the 11th largest economy in the world, helped by its reserves of natural gas, oil, coal and precious metals.
8. Brazil - the seventh largest economy in the world, driven by its abundant natural resources and with an average GDP growth rate of over 5 per cent.
9. Indonesia - the largest economy in Southeast Asia and a member of the G20, Indonesia has firm ambitions to enter the world’s top 10 strongest economies within the next decade.
10. Mexico - a free market economy with a mix of industry and agriculture and an increasing influence in the US market.
“When it comes to business the world really is your oyster. There’s a lot of potential for global expansion for those that are brave enough to take the steps into emerging markets," Gary Smith of GlobalVisas.com said.
“The old order of advanced economies, such as the US, Europe and Japan, has experienced economic difficulties over the past few years. For the entrepreneurial souls amongst you, the emerging economies of the world can hold real potential to progress and develop your business into the next multinational.”
Join us on