A survey conducted by digital news service, US News & World Report, marketing company Y&R and the Wharton School, a business school at the University of Pennsylvania have ranked Ghana the 69th ‘best country’ in the world.
The rankings evaluate 80 countries across 24 rankings drawn from a survey of more than 20,000 global citizens, measuring 75 dimensions that have the potential to drive trade, travel and investment and directly affect national economies.
Ghana recorded its highest score; 4.2 out of 10 under the metric – ‘Open for Business’ on account of perceived cheap manufacturing costs, a lack of transparency in government practices and a relatively favourable tax environment.
The survey ranked Ghana 0.0 in the Entrepreneurship category.
The country also ranked ahead of other African countries including Tunisia (72), Nigeria (74) and Angola (78) but behind Egypt (40) and South Africa (37).
Best Countries is a rankings, news and analysis project created to capture how countries are perceived on a global scale.
A total of 20,301 individuals from 36 countries in four regions – the Americas, Asia, Europe and the Middle East and Africa – were surveyed. Of the respondents, 11,238 were informed elites and 5,963 were business decision-makers.
Some respondents were considered both informed elites and business decision-makers.
While the Best Countries rankings are based largely on perception, the four benchmarks used in the methodology and category weights are driven by hard data. Incorporating the most recently available data into these elements resulted in two key changes.
First, the weight of each sub-ranking in the overall Best Countries score shifted slightly relative to changes in how closely their trends matched updated gross domestic product data.
Second, more recent data changed the set of countries that met the four benchmarks needed to be included in the analysis.