Countries with good business reputations
Here’s an interesting to look at which countries made the list and which were rated as having weaker reputations
There are a lot of things that businesses can consider when they’re looking to do business with another country. Sure, they can look at a country’s GDP, its population, and its infrastructure. But what if there was another metric that could be used to determine whether a company wanted to do business in a certain geography or someone wanted to take a vacation there? What if decisions were made based on a country’s reputation?
When reputation is considered along with these other factors, the candidate rankings of the best place to do business look different. With this in mind, Reputation Institute, a globally active reputation management company, conducts an annual large-scale survey across a number of G8 countries to determine how strong — or weak — their reputations are. This year’s survey revealed some surprising results.
The qualities that affect a country’s reputation
The Reputation Institute looked at several consistent traits as part of their survey. Among these attributes were the level of corruption in a country, demonstrated ethical behavior, and the country’s ability to provide an appealing lifestyle for residents there. Researchers also evaluated how friendly, safe, and beautiful a country is as well as how transparent their policies and actions are and how advanced their economy is.
In a press release delivered via PR Newswire, The Reputation Institute’s Chief Operating Officer Nicolas Georges Trad summed up the qualifications in this way, ” We have learned. . . that country reputation is less about GDP, country size or population and much more about a country’s ability to develop an appealing environment, to communicate ethical behavior and create a ‘feel-good factor.’ ”
Many superpowers dropped in their rankings
One of the biggest surprises of the survey is the fact that many countries that are traditionally known as superpowers dropped sharply in their rankings. This included the United States, whos reputation has taken a hit worldwide in terms of transparency, demonstrated levels of corruption, and government policies. Troubling policies included a lowered level of global environmental stewardship. China and Russia also received rankings that were in the “weak” range.
Sweden was ranked at the top of the survey
It was no surprise to anyone that Sweden came in at number one on the 2019 survey. The country received high ranks for its ethical behavior and was also graded highly for measurements of liveability — being friendly, safe, and beautiful while being low in corruption and high in transparency.
Sweden’s win comes with benefits. It is not only attracting businesses and investment dollars, but it is attracting more tourism and additional students are looking to study there.
This isn’t the first year that Sweden came in at the top of the survey. It won last year too. As the saying goes, to the winner goes the spoils. The country is seeing some benefits from its standard of having a sterling reputation. It is not only attracting businesses and investment dollars, but it is attracting more tourism and additional students are looking to study there.
Other countries that ranked at the top of the survey
Following Sweden’s ranking at the top of the survey, several other Scandinavian countries were shown to also maintain sterling reputations. These include Switzerland, Norway, Finland, the Netherlands, and Denmark. In fact, it appears that this region, overall, remains highly liveable and a positive place to do business in.
If you’re looking for some top ten rankings on other continents, look no further than Canada in North America which came in at number 6. Ireland is Europe’s representative on the positive end of the survey and New Zealand and Australia hold their places at numbers five and ten respectively.
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There are lots of benefits to the new trend.