Croatia dropped six spots on the Forbes list of the best countries for business in 2012, placing 47th among 141 countries, the US financial magazine Forbes reported this week.
New Zealand ranked first, up from No. 2 last year, thanks to a transparent and stable business climate that encourages entrepreneurship. It was followed by Denmark, Hong Kong, Singapore, Canada, Ireland, Sweden, Norway, Finland and the United Kingdom.
Croatia slid from No. 41 in 2011, and compared to other countries in the region this year it was behind Slovenia (23rd), Macedonia (37th), the Czech Republic (41st), Slovakia (43rd), Montenegro (45th), and Hungary (46th).
Croatia was ahead of Bulgaria (49th), Turkey (52nd), Romania (60th), Bosnia and Herzegovina (85th) and Serbia (90th).
The criteria used in the ranking system included property rights, innovation, taxes, technology, corruption, freedom (personal, trade and monetary), red tape, investor protection and stock market performance.
In grading the countries, Forbes relied on research and published reports from the Central Intelligence Agency, Freedom House, Heritage Foundation, Property Rights Alliance, Transparency International, World Bank and World Economic Forum.
