The Top 5 Caribbean Countries Where Its Easiest To Do Business

By NAN Business Editor

News Americas, NEW YORK, NY, Fri. Nov. 2, 2018: The World Bank Group this week released its latest global ranking on Doing Business for 2019 and only 3 Caribbean countries managed to rank about 100 globally out of a total of 190. So which Caribbean nations are the best to do business according to the World Bank? Here are the top 5 for 2019:

1: Puerto Rico

Taking the number one spot for the Caribbean is Puerto Rico, which, however, ranked 64th globally. This was actually an improvement from 2018 when it ranked at 68^th. Still the island showed a decline in progress in several areas, including in Starting a Business, Dealing with Construction Permits, Getting Electricity, Registering Property and Resolving Insolvency but it showed improvement in the area of Enforcing Contracts by moving up to 63^rd globally.

2: Jamaica

Coming in at second regionally but 75^th globally is Jamaica, which showed improvements in the areas of Starting a Business, Dealing with Construction Permits, Getting Electricity, Registering Property, Resolving insolvency and Getting credit.  The one area it declined in was ease of paying taxes.

3: St. Lucia

The tiny Caribbean island of St. Lucia managed to grab the third spot in the region and the 93^rd globally, showing improvements in the areas of Starting a Business, Dealing with Construction Permits, Getting Electricity and Resolving Insolvency. But it showed a decline in ease of Registering Property.

4: The Dominican Republic

Ranking as the fourth best place to do business in the region is the Dominican Republic, though it ranked at 102 globally. But according to the World Bank, the country showed improvements in the areas of Starting a Business, Dealing with Construction Permits, Getting Electricity, Registering Property and Protecting Minority Investors, but fell down in the areas of Resolving Insolvency and Paying Taxes.

5: Dominica

Rounding out the Top 5 best places to do business in the Caribbean is the Commonwealth of Dominica which took the fifth spot region wide and the103rd globally. The island showed improvements on Starting a Business, Dealing with Construction Permits, Getting Electricity, Registering Property and Resolving Insolvency.