Italy is one of the best countries in the world in which to invest, according to U.S. News & World Report’s annual ranking of the world’s best nations, which takes into account a great variety of metrics.

The 2020 “Best Countries to Invest In” ranking is based upon the results of a global survey involving more than 6,000 entrepreneurs and business decision-makers. Respondents ranked countries according to their perception of eight attributes: corrupt, dynamic, economically stable, entrepreneurial, favourable tax environment, innovative, skilled labour force, and technological expertise.

Italy comes in sixth, marking a huge thirteen positions improvement after last year’s 19th place. The country’s position is even more noteworthy when considering it outranks all global powers, except for the United Kingdom and India, and precedes established investment hubs such as Singapore or Qatar. Results in associated rankings may not be as brilliant, but they prove the overall strength of Italy as a country in which foreign entrepreneurs should invest. Italy is 7th in the “Start a Career” ranking, 18th in the “Headquarter a Corporation” one, closely trailing the United States and 25th in the “Start a Business” ranking. In each of these, Italy is showing remarkable progress according to international onlookers, decisively improving its overall business climate.

Italian culture is often praised as one of Italy’s best assets when presenting itself on the global stage. Thus, ranking first in the cultural influence and heritage sub rankings should not come as a surprise to anyone. However, such an achievement should not be understated. Cultural heritage is where Italy truly shines: a supremely culturally accessible country, with many attractions representing a rich history, featuring great food. Italy also obtains full marks in the cultural influence ranking thanks to its global fame as a fashionable and trendy country. A penchant for innovation and a strong education offering counterbalance these features, showing a growing interest in the future.

All these characteristics contribute to Italy’s eighth spot in the ranking accounting for international influence and 17th overall place in the general ranking of the world’s best countries. The main takeaway is quite clear: for all its bad press and real shortcomings, Italy is still one of the world’s best counties in which to invest and is always striving to improve, opening itself to global business.

Source: U.S. News