Wellington CBD. Forbes has rated New Zealand the top country for doing business. Photo / Mark Mitchell
New Zealand has outshone the world's major economies to top a Forbes list of the best countries for business.
After placing second last year, New Zealand leapt into first place thanks to its "transparent and stable business climate that encourages entrepreneurship".
American business magazine Forbes ranks 141 countries in its
annual list by measuring them according to 11 metrics.
Although New Zealand was the smallest economy in its top 10, at $162 billion, it came first in four of the metrics, including personal freedom, investor protection, lack of red tape, and lack of corruption.
"New Zealand's economy is closely tied to Australia's, and both held up better than most during the global financial crisis," Forbes said.
