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10 Top World's toughest countries to do business in

2012 August
A news agency (CNBC.COM) has put together a list of the 10 most difficult countries to do business in from 50 of the world's largest economies in year 2010. These top 10 rankings are based on the World Bank's "Ease of Doing Business" study, which includes 183 countries.

10. Argentina

Economy of Argentina

The country benefits from rich natural resources, a highly literate population, an export-oriented agricultural sector and a diversified industrial base. Historically, Argentina's economic performance has been very uneven, in which high economic growth alternated with severe recessions, particularly during the late twentieth century, and income maldistribution and poverty increased. Early in the twentieth century it was one of the richest countries in the world and the richest in the Southern hemisphere, though it is now an upper-middle income country.

9. Russia

Economy of Russia as quoted by Ministry of Economics in Russia

At the moment, an unprecedentedly large and speedy change towards a market economy is taking place in several countries, including Russia, with a previously dominant system of a centrally planned economy. In this kind of global process, the development of market economy, it is only macroeconomic theory that forms the basis of economic thinking.
The subject of macroeconomics is the laws of the national economy as a whole. Macroeconomics examines the interaction and mutual influence of the most important segments of the national economy upon each other, or, equivalently, the national household - labor markets, money, capital, goods and services and natural resources. Studying the interaction of national economies is of growing importance in the present day context. A special part of macroeconomics as a subject is the governmental macroeconomic policy and regulation of the national economy which is based on it.
Thus, it becomes possible to isolate three components in macroeconomics: the national economy, state economic policy and the regulation and interaction of national economies within the global economy

8. Brazil

Economy of Brazil and its weaknesses

Brazil has its weaknesses. These are mostly related to debts. Domestic debts went up from 1994 to 2003. But Brazil controlled this rise in 2006. The president has introduced economic programs to control taxes and increase public investment.
The present GDP is $1.6 trillion and the real growth rate of GDP is 3.7%. rate of unemployment is 9.6% and inflation is 3%.
Major industries are textiles, shoes, chemicals, aircraft, steel, motor vehicles, etc. Agricultural products includes coffee, wheat, rice, sugarcane etc.

7. Indonesia

Economy of Indonesia

Indonesia still struggles with poverty and unemployment, inadequate infrastructure, corruption, a complex regulatory environment, and unequal resource distribution among regions. The government in 2012 faces the ongoing challenge of improving Indonesia's insufficient infrastructure to remove impediments to economic growth, labor unrest over wages, and reducing its fuel subsidy program in the face of rising oil prices.

6. India

Economy of India and what chalanges it has to overcome

Population explosion: This monster is eating up into the success of India. According to 2001 census of India, population of India in 2001 was 1,028,610,328, growing at a rate of 2.11% approx. Such a vast population puts lots of stress on economic infrastructure of the nation. Thus India has to control its burgeoning population.
Poverty: As per records of National Planning Commission, 36% of the Indian population was living Below Poverty Line in 1993-94. Though this figure has decreased in recent times but some major steps are needed to be taken to eliminate poverty from India.
Unemployment: The increasing population is pressing hard on economic resources as well as job opportunities. Indian government has started various schemes such as Jawahar Rozgar Yojna, and Self Employment Scheme for Educated Unemployed Youth (SEEUY). But these are proving to be a drop in an ocean.
Rural urban divide: It is said that India lies in villages, even today when there is lots of talk going about migration to cities, 70% of the Indian population still lives in villages. There is a very stark difference in pace of rural and urban growth. Unless there isn't a balanced development Indian economy cannot grow.

5. Nigeria

Economy of Nigeria and unemployment

During the 1980's and 1990's Nigeria faced growing economic decline and falling living standards, a reflection also of political instability, corruption, and poor macroeconomic management (most notably the failure to diversify the economy).
With an estimated 60 million Nigerians unemployed at the end of 2000, unemployment is one of the countries most pressing problems.

4. Philippines

Economy of Philippines and restrained government spending

Last year, the economy was hit by a slump due to a drop in its key electronics exports and restrained government spending.
Issues like poor infrastructure and weak governance must be tackled if the country’s economic gains are to benefit all.

3. Algeria

Economy of Algeria and unamployment issue

Unemployment particularly affects the young, with a jobless rate of 21.5% among the 15-24 age group. Steps to encourage employment help mitigate the problem but measures are needed to redress the job supply. National priority should be given to making education more democratic, and extending vocational training and higher education.

2. Ukraine

Economy of Ukraine and economic freedom score

Ukraine's economic freedom score is 46.1, making its economy the 163rd freest in the 2012 Index. Ukraine is ranked last out of 43 countries in the Europe region, and its overall score is lower than the world average.
The foundations of economic freedom are fragile in Ukraine and unevenly established across the country. Poor protection of property rights and widespread corruption discourage entrepreneurial activity, severely undermining prospects for long-term economic expansion.

1. Venezuela

Economy of Venezuela

Despite bountiful natural resources and significant advances in some economic areas, Venezuela in 1990 continued to suffer from the debilitating effects of political patronage, corruption, and poor economic management. The country's political and economic structures often allowed a small elite to benefit at the expense of the masses. As a result, Venezuela's income distribution was uneven, and its social indicators were lower than the expected level for a country with Venezuela's level of per capita income. Many economic institutions were also weak relative to the country's international stature.

Summary

This article shows a lot of economy diversity in the world. What are the main movement in investment sector of the world? Let's see in our next article about "Main counties to be invested in".

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