“Globalization has made the world a competitive place for business, influence and the quality of life,” according to Mortimer B. Zuckerman, editor-in-chief of U.S. News and World Report. The magazine along with the Wharton School of the University of Pennsylvania decided that there was a need to rank countries.
The rankings evaluate 60 nations across 24 lists on a wide range of criteria, from sustainability to economic influence. Created to capture how nations are perceived on a global scale, the rankings are the centerpiece of a new web portal called “Best Countries,” launched on Jan. 20 at the World Economic Forum.
“How a nation is perceived outside its borders is critical to its success," said Martin Sorrell, CEO of WPP. WPP's BAV Consulting business was also a partner in the study. "Smart, thoughtful and responsible administrations pay attention to image and reputation, because a better image contributes towards more foreign direct investment, more tourism and a ‘made-in’ or ‘created-in’ premium."
Attributes were grouped into nine sub-rankings that rolled into the Best Countries ranking:
Adventure -- Friendly, fun, pleasant climate, scenic
Citizenship --Cares about human rights, cares about the environment, gender equality, progressive, religious freedom, respects property rights, trustworthy, well-distributed political power
Cultural Influence --Culturally significant in terms of entertainment, fashionable, happy, has an influential culture, modern, prestigious, trendy
Entrepreneurship -- Connected to the rest of the world, educated population, entrepreneurial, innovative, provides easy access to capital, skilled labor force, technological expertise, transparent business practices, well-developed infrastructure, well-developed legal framework
Heritage -- Culturally accessible, has a rich history, has great food, many cultural attractions
Movers --Different, distinctive, dynamic, unique
Open for Business --Bureaucratic, cheap manufacturing costs, corrupt, favorable tax environment, transparent government practices
Power -- A leader, economically influential, politically influential, strong international alliances, strong military
Quality of Life -- A good job market, affordable, economically stable, family friendly, income equality, politically stable, safe, well-developed public education system, well-developed public health system