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Saint Lucia’s business district – Castries.
The World Bank’s Doing Business Ranking 2017 report has been released, but it’s not all good news for Saint Lucia.
The island has dropped in the global rankings from 78 to 86, out of 190 countries.
New Zealand has taken over the number one spot from Singapore, which is now second, followed by Denmark.
According to the report, Saint Lucia has dropped in all categories, with the main contributing category being “Getting Electricity”, which has slid from 29 to 56.
Getting Credit (157), Resolving Insolvency (114) and Registering Property (104) are the three categories in which Saint Lucia continue to rank over 100. CLICK HERE FOR MORE INFO
The good news for Saint Lucia is that it recorded the second best ranking in the English-speaking Caribbean behind Jamaica (67). Trinidad and Tobago is third with 96.
St. Lucia ranked number one in the region from 2007 to 2014.
Meanwhile, it was not a good look for the Eastern Caribbean.
With the exception of Saint Lucia, all the other eastern islands ranked over 100: Dominica (101), Antigua and Barbuda (113), Barbados (117), St. Vincent and the Grenadines (125), St. Kitts and Nevis (134) and Grenada (138).
Mexico topped the Latin America and Caribbean region with 47 followed by Colombia (53), Peru (54), Puerto Rico, US (55) and Costa Rica (62).
Jamaica, the best ranked in the English-speaking Caribbean and CARICOM, is sixth overall in Latin America and the Caribbean. The other CARICOM countries are The Bahamas (121), Guyana (124), Suriname (158), and Haiti (181).
According to the World Bank, “Economies are ranked on their ease of doing business, from 1–190. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. The rankings are determined by sorting the aggregate distance to frontier scores on 10 topics, each consisting of several indicators, giving equal weight to each topic. The rankings for all economies are benchmarked to June 2016.”
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