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PH Ranks Near Bottom in List of Best Countries For Young Entrepreneurs and Freelancers

Set yourself up for success abroad
By Lydia Belanger |

Which Country to Move to If You're Young and Want to Be Your Own Boss
Lok Yiu Cheung/EyeEm | Getty Images

 

Forget debates about whether you should plant roots on one of the U.S. coasts or flock to the middle of the country to forge astartup hub. If you’re thinking about making a move to pursue entrepreneurship, look beyond American borders.

 

Expert Market, a U.K.-based B2B product comparison site, recently conducted a study to determine the best countries for young, aspiring entrepreneurs and freelancers seeking a more flexible lifestyle. They examined data from The World Bank, The World Economic ForumNumbeoKPMGWifimap.io and Akamai’s State of the Internet Report.

 

One factor the researchers weighed heavily was cost of living -- as well as the cost of a cup of coffee, for hustlers who run on caffeine. They also took income tax rates, access to credit, access to public transportation, the ease of starting a business, average internet speeds and the prevalence of free Wi-Fi into account. Then, they compiled a ranking of the world’s 57 largest countries, based on their suitability for millennials who dream of self-employment. 

Hong Kong, a global financial hub, topped the list. It’s public transit system, relatively low personal income tax rate of 15 percent (third-lowest of the 57 countries) and access to credit propelled it to the number-one spot in the ranking. Expert Market also highlighted the United Arab Emirates, which came in fourth place, for being tax-free. 

 

The Philippines came in at number 54 in the list of 57 countries.

 

Five of the bottom 10 countries are in Central or South America, while no countries from this region made the top 10. Half of the countries in the top 10 are European countries. 

 

If you’re thinking of moving Down Under, consider New Zealand, rather than Australia. The larger Oceanic island nation came in 26th -- it’s more expensive to live there. 

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And turns out, if you already live in America, you may want to stay put. The U.S. came in second place, thanks to good transportation, abundant Wi-Fi (more than half a million spots)  and access to credit from banks.

 

But if you want to get away, check out the full ranking below: 

1. Hong Kong

 

2. United States

 

3. South Korea

 

4. United Arab Emirates

 

5. United Kingdom

 

6. Spain

 

7. New Zealand

 

8. Estonia

 

9. Bulgaria

 

10. Czech Republic

 

11. Latvia

 

12. France

 

13. Portugal

 

14. Lithuania

 

15. Qatar

 

16. Denmark

 

17. Switzerland

 

18. Germany

 

19. Turkey

 

20. Norway

 

21. Romania

 

22. Saudi Arabia

 

23. China

 

24. Netherlands

 

25. Poland

 

26. Australia

 

27. Sweden

 

28. Hungary

 

29. Finland

 

30. Mexico

 

31. Japan

 

32. Cyprus

 

33. Chile

 

34. Panama

 

35. South Africa

 

36. Italy

 

37. Morocco

 

38. Indonesia

 

39. Iceland

 

40. India

 

41. Croatia

 

42. Egypt

 

43. Austria

 

44. Colombia

 

45. Brazil

 

46. Greece

 

47. Malta

 

48. Peru

 

49. Belgium

 

50. Ireland

 

51. Costa Rica

 

52. Slovenia

 

53. Ecuador

 

54. Philippines

 

55. Israel

 

56. Argentina

 

57. Uruguay

 

 

*****

 

 

Copyright © 2017 Entrepreneur Media, Inc. All rights reserved.

This article originally appeared on Entrepreneur.com. Minor edits have been done by the Entrepreneur.com.ph editors

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