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21.01.2016 17:09

Azerbaijan ranks 53rd in Top 60 of worlds best countries in US News & World Report

Azerbaijan has occupied the 53rd, between Guatemala and Bolivia, in the ranking of the best countries in the world on the version of US News & World Report.

Top 5 of the best countries included Germany, Canada, UK, U.S. and Sweden. The general rating from 60 countries is closed by Iran (58), Ukraine (59) and Algeria (60), Kazakhstan (55), and Russia (24).

The countries were assessed on nine criteria.

In particular, Azerbaijan ranks 55th on entrepreneurship development (including infrastructure development, capital market), 43rd on open business and 56th on quality of life, 54th on travel & adventure, 56th on cultural influence, and 57th on the historical heritage, 38th on economic impact (thanks to the assessment of the level of force and cooperation with international alliances). By this criterion, Russia ranks the 2nd place, losing the championship to the U.S. and outstripping China.

Azerbaijan is rich in natural resources, and its economy is heavily based on oil and other energy exports. The country is considered an upper-middle income nation possessing a high level of economic development and literacy. Like many of the former Soviet republics, Azerbaijan has struggled to move to a market economy. Additionally, in WBs view, while the rates of unemployment and poverty in the country have fallen, Azerbaijan is at risk of losing those gains, the report says.

It is necessary to diversify the number of industries offering employment. The World Bank also warns of a looming youth bulge a large number of young people entering the workforce who will need jobs which will threaten to raise the national rate of poverty.

The rating was compiled by US News & World Report in collaboration with consulting company BAV Consulting and the University of Pennsylvania. It is based on the results of a sociological survey of about 16 000 people from 36 countries, including representatives of the business elite and ordinary citizens. The study was presented at the Davos forum.

21.01.2016 12:27

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