The Best Countries For Business, 2009

Denmark

Overall rank: 1

GDP per capita: $38,900

GDP, real growth rate: 0.3%

Population (millions): 5.5

Trade balance as % of GDP: -0.6%

Federal budget balance as % of GDP: 6.7%

After a long consumption-driven upswing, Denmark's economy began slowing in early 2007 with the end of a housing boom. Along with the U.K., one of the notable holdouts from the group of 15 European countries using the euro currency.

U.S.

Overall rank: 2

GDP per capita: $48,000

GDP, real growth rate: 1.4%

Population (millions): 303.8

Trade balance as % of GDP: -5.6%

Federal budget balance as % of GDP: -3.1%

The biggest economy in the world and third-largest population, the U.S. continues to support business-friendly economic policies, despite a recent move in the balance of power from Wall Street to Washington. Broad policy shifts such as Cap and Trade, though, threaten to damage its economic competitiveness, particularly in industrial sectors.

Canada

Overall rank: 3

GDP per capita: $40,200

GDP, real growth rate: 0.7%

Population (millions): 33.2

Trade balance as % of GDP: 1.9%

Federal budget balance as % of GDP: 0.2%

Trade and budget surpluses, tax relief from the current administration and conservative lending practices of its banks have left the U.S.' northern neighbor in an enviable position amid global tumult. Reignited demand for commodities in the face of U.S. inflation could help reverse export declines in this gold- and oil-sands-rich nation.

Singapore

Overall rank: 4

GDP per capita: $52,900

GDP, real growth rate: 3.0%

Population (millions): 4.6

Trade balance as % of GDP: 17.2%

Federal budget balance as % of GDP: 0.6%

The city-state's tax and regulatory environment have made it a competitor to Hong Kong as an Asian center for finance. Advantageous trade routes, balanced budgets and high levels of individual wealth have insulated the nation from major disturbance due to volatility in the financial markets.

New Zealand

Overall rank: 5

GDP per capita: $28,500

GDP, real growth rate: 0.6%

Population (millions): 4.2

Trade balance as % of GDP: -1.3%

Federal budget balance as % of GDP: 0.4%

Tiny island nation has embraced free trade policies, recently becoming the first developed nation to sign a free trade agreement with China.

U.K.

Overall rank: 6

GDP per capita: $37,400

GDP, real growth rate: 1.1%

Population (millions): 60.9

Trade balance as % of GDP: -7.8%

Federal budget balance as % of GDP: -5.9%

With financial services accounting for 21% of private-sector employment pre-crisis, rising unemployment will be difficult to reverse. Prime Minister Gordon Brown has made raising more money for the developing world via the International Monetary Fund a priority amid a deepening recession.

Sweden

Overall rank: 7

GDP per capita: $39,600

GDP, real growth rate: 0.9%

Population (millions): 9.0

Trade balance as % of GDP: 5.2%

Federal budget balance as % of GDP: 3.3%

The least corruption of any nation, high personal freedom and a advanced technological infrastructure have allowed for strong foreign investment, despite somewhat lax investor protection laws.

Australia

Overall rank: 8

GDP per capita: $39,300

GDP, real growth rate: 2.5%

Population (millions): 21.0

Trade balance as % of GDP: -1.0%

Federal budget balance as % of GDP: 0.4%

A collapsing housing and real estate market has made the island nation's recovery from recession difficult, as has falling demand for commodities from China. Larger trade deficits are likely as government expands social spending in effort to stimulate sagging economic growth.

Hong Kong

Overall rank: 9

GDP per capita: $45,300

GDP, real growth rate: 2.8%

Population (millions): 7.0

Trade balance as % of GDP: -8.5%

Federal budget balance as % of GDP: -0.7%

Dependent on the services industry for 92% of its output, the Chinese financial center has gone to great lengths to expand corporate transparency and stock market regulation in an effort to attract more pan-Asian listing.

Norway

Overall rank: 10

GDP per capita: $57,500

GDP, real growth rate: 2.8%

Population (millions): 4.6

Trade balance as % of GDP: 31.6%

Federal budget balance as % of GDP: 32.5%

A strange brew of social welfare and market-based capitalism, this tiny nation has proliferated, thanks in part to its low tax burdens and open trade rules.

World's Most Expensive Cities

15. Sydney, Australia

Sydney has come a long way from its early days as a convict settlement. Today it is the largest and most expensive city on the Australian continent, home to world cultural landmarks like the Sydney Opera House. A ride on mass transit costs $2.41 per ride, 20% more than the price in New York.

14. Tel Aviv, Israel

Israel has more billionaires per capita than any country in the world, so it should come as no surprise that its commercial center is the most expensive destination in the Middle East. Tel Aviv, which means "spring hill" in Hebrew, grew out of the ancient trading post of Jaffa and now boasts a metro-area population over 3 million.

13. Singapore, Singapore

Notorious for draconian littering policies, Singaporean authorities have been known to submit gum-spitting foreigners to public floggings. American tourists and expats can find punishment enough in the city's cost of living, more than 25% higher than that of Los Angeles.

12. Paris, France

Paris may be the world's unofficial capital of romance, but love comes with a price for American visitors. Even a Royale with cheese will cost you: The average fast-food burger costs $8.61, about 50% more than a comparable meal in New York.

11. Osaka, Japan

In addition to being Japan's culinary capital, Osaka is the fourth most expensive city in all of Asia. Its population of 17 million makes it the ninth-largest metro area in the world; Osaka is also home to a host of multinational corporations, including Mitsubishi and Sanyo.

10. Milan, Italy

Milan rounds out the top 10 most expensive cities in the world. The city's Via Montenapoleone rivals New York's Fifth Avenue and Paris' Champs Elysees as an international shopping destination--and, at least for Americans, it's pricier than both.

9. Zurich, Switzerland

Founded in Roman times as a tax-collecting and trading post, Zurich remains a vital cog of the world economy. Slightly cheaper than nearby Geneva, Zurich is still a pricey destination for Americans, thanks to the Swiss Franc's 15% appreciation against the dollar over the past year.

8. Geneva, Switzerland

The unofficial capital of watchmaking, Geneva is a pricey locale even if you aren't going there to shop for a Patek Philippe. Geneva's cost-of-living index is almost 50% higher than Chicago or San Francisco.

7. Copenhagen, Denmark

Denmark's capital takes its name from the Danish words meaning "merchant's harbor," and the city still lives up to its mercantile moniker: It's the third-most expensive city in Europe.

6. Hong Kong, China

Eleven years ago, this glittering metropolis returned to Chinese control after more than a century in British hands. Communist oversight hasn't made the city cheap enough for the masses: Hong Kong is nearly 20% more expensive than New York.

5. Seoul, South Korea

Just 40 miles from the North Korean border, Seoul continues to flourish despite the specter of conflict. South Korea's capital is the most expensive city in Asia outside of Japan, edging Hong Kong by less than one percentage point.

4. Oslo, Norway

The Norwegian capital jumped up from No. 10 last year, thanks to an infusion of wealth spurred by the country's booming oil industry. With a population of 850,000, Oslo has plenty of room to grow.

3. London, U.K.

Founded by the Romans nearly 2,000 years ago, London is an ancient stalwart when it comes to pricey cities. Though it slipped from last year's No. 2 spot, it remains extremely expensive--even a ride on one of the city's vaunted double-decker buses costs $5.89.

2. Tokyo, Japan

Japan's economy is stagnating, but Tokyo is as expensive as ever. For American travelers, the city's real estate prices are the highest in the world--a two-bedroom luxury apartment costs over $5,100 per month, about $600 more than a comparable pad in Moscow or New York.

1. Moscow, Russia

Less than two decades after the fall of communism, Moscow has taken well to capitalism, earning the title of world's most expensive city for the third year in a row. Home to more billionaires (74 and counting) than any other metropolis, Russia's capital is 42% more expensive than New York, the most expensive city in the U.S.

World's Most Expensive Homes

$125 million

Beverly Hills, Calif.

The latest addition to the $100 million-plus club, Suzanne Saperstein's gem is aptly called the Fleur de Lys. Modeled after Louis XIV's palace at Versailles, the 45,000-square-foot home took five years to build following Saperstein's accumulation of five acres in Holmby Hills during the 1990s. Should strolling the grounds bore you, there is a 50-seat screening room and a library filled with first-edition books. Auto collectors will salivate over the nine-car garage.

$125 million

Greenwich, Conn.

On 40 acres of rolling hills, with lawns and meadows broken by tree lines that provide privacy, this Jacobean manor has 21,897 square feet, 14 bedrooms and 13 bathrooms. Vaulted ceilings, travertine marble floors, bay windows, limestone walls and wood paneling are notable interior features of Dunnellen Hall, as is a 52-foot-long indoor swimming pool

$110 million

Windlesham, Surrey

Larger than either Buckingham or Hampton Court palace, this 103-room home has 58 acres of gardens and woodlands, making it the idyllic English country home for those flush with cash. Several ballrooms and grand entrance ways punctuate Updown Court, which has a panic room, an indoor squash court, bowling alley, 50-seat cinema, helipads, space for eight limousines and a heated marble driveway. Marble bathrooms are nice, but some would say indoor spas, Jacuzzis and pools with views of the grounds are better.

$100 million

Lake Tahoe, Nev.

Conveniently on the tax-free Nevada side of Lake Tahoe, this 210-acre property--Tranquility--is owned by Joel Horowitz, the co-founder of Tommy Hilfiger, who built the property from scratch. The main house has 20,000 square feet of living space, is modeled after a northern European mountain home and has a 3,500-bottle wine cellar. An indoor swimming pool and atrium, as well as a 19-seat movie theater, ensure constant entertainment, even if snowed in.

$100 million

Moscow, Russia

This sizable property consists of an 11,700-square-foot manor house, two 4,000-square-foot guest houses and a 91,000-square-foot recreation center that has a pool, Turkish and Russian baths, a gym, sauna and lounges. The estate--Eurasia--is 15 miles from the Moscow city center.

$95 million

Stamford, Conn.

With its stone construction, hedged gardens, grass tennis court, manicured gardens and distinctive chimneys, Hillandale has all the markings of an English country manor. The 20,000-square-foot residence has eight bedrooms and 10 bathrooms. It's so big that the property straddles the New York-Connecticut border. The grounds also include four guest and staff residences and two barns, all connected by five miles of private roads.

$88 million

Pagosa Springs, Colo.

We included the BootJack Ranch on our list because, while the price includes 3,100 acres of land, it's a luxury property more than a working ranch. The main house is 13,800 square feet and has four bedrooms and four bathrooms. Outlying guest cabins and lodges can host up to 50 people and bring the total interior space up to 77,000 square feet. In addition, there's a 12,000-square-foot spa and aquatic center.

$88 million

Côte d'Azur

On the French Riviera, this 11-bedroom, 14-bathroom mansion has 29,000 square feet of interior space that open to manicured lawns and a swimming pool. The spiraling outdoor staircases and plentiful balconies and terraces have views across the water and of the surrounding hillsides. Working fireplaces, a sauna, outdoor kitchen and pool house are other features at Villa Leopolda.

$85 million

Bel Air, Calif.

One of the last homes designed by famed California architect Wallace Neff, this estate rests on seven acres of land in the Holmby Hills area of Bel Air. Lawns, walking paths and gardens surround the 12-bedroom, 10-bathroom main house, and there's also a tennis court and pool. Inside, the home bends around a giant central atrium with curving hallways and overlooks.

$80 million

Southampton, N.Y.

The interior space of 13,500 square feet across four stories contains nine bedrooms, 11 bathrooms, four powder rooms and a movie theater. That's enough to catch anyone's eye, but what's really unique about this property is the waterfront. The home is situated between a pond and the ocean, and there is 1,000 feet of shore front and 1,000 feet of pond front.

World's Priciest Cities To Own A Home

No. 10: Mumbai, India

Price per square foot: $851.30 U.S.

No. 9: Rome, Italy

Price per square foot: $851.50 U.S.

No. 8: Singapore

Price per square foot: $901.20 U.S.

No. 7: Paris, France

Price per square foot: $1,126.20 U.S.

No. 6: New York, N.Y.

Price per square foot: $1,384.10 U.S.

No. 5: Hong Kong

Price per square foot: $1,498 U.S.

No. 4: Tokyo, Japan

Price per square foot: $1,672.10 U.S.

No. 3: London, U.K.

Price per square foot: $1,928.30 U.S.

No. 2: Moscow, Russia

Price per square foot: $1,937.30 U.S.

No. 1: Monte Carlo, Monaco

Price per square foot (US$): $4,420.10 U.S.