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Japan has climbed from sixth place last year to the second spot in the 2024 Best Countries index due to its sweeping reforms following the COVID-19 pandemic. The index, compiled by the U.S. News & World Report in collaboration with the Wharton School, evaluates countries across a range of categories including openness for business, power, adventure, social purpose and cultural influence.
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Behind Japan’s rise: The index, currently in its ninth year, ranked Japan behind Switzerland, which retained its top spot, and ahead of the U.S., which secured third place. The report attributed Japan’s rise to its impressive performance in the “entrepreneurship” category, which assesses factors such as innovation, infrastructure and legal framework. The nation’s post-pandemic tourism boom and its attractiveness for international investment further contributed to its improved standing.
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How other countries fared: Canada notably secured fourth place due to its vast natural resources and welcoming immigration policies, while Australia ranked fifth for its high quality of life and economic stability. While no other Asian country made the top 10, Singapore landed at the 14th position for its high GDP per capita and low unemployment rate. China, the world’s second-largest economy, claimed the 16th spot, while South Korea’s thriving economy secured its 18th place on the list.
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