JA Business Ranking

Jamaica has been ranked 64 out of 146 countries in the 2014 Forbes Best Countries for Business Report.

The report is published yearly by Forbes, one of the world’s most celebrated and influential business magazines.

The report highlighted Jamaica as the best country in the Caribbean to do business and the third best in the Latin American and Caribbean region.

The report ranked Trinidad and Tobago 71, Barbados 73, Dominican Republic 86 and Guyana 96.

Costa Rica 57 and Mexico 61, ranked higher than Jamaica in the Latin American region.

Forbes determined the Best Countries for Business by grading countries on 11 different factors including property rights, innovation, taxes, technology, corruption, trade and monetary freedom, red tape, investor protection and stock market performance.

Each category was equally weighted.

The report was compiled using other published reports, including the World Bank’s Doing Business Report and the World Economic Forum’s Global Competitiveness Report.

The Minister of Industry, Investment and Commerce, Anthony Hylton, says Jamaica’s ranking is further evidence that the country is taking the necessary steps to improve its business environment.

He says this latest report will go a long way in repositioning the country in the investor community and ensure that Jamaica emerges as one of the top places to invest.