The bustling Asian economies of Singapore and Hong Kong have laid claim to first and second place respectively in a Heritage Foundation assessed index.
The America-based think tank examined 183 different countries with regards to how free the countries policies were in areas such as working, investing and trading. Anthony Tim, an analyst at the free-enterprise championing Heritage Fund, said: “We measured business freedom, trade freedom, fiscal freedom, government spending, monetary freedom, investment freedom, financial freedom, freedom from corruption, property rights and labour freedom”.
He added that “We're getting used to seeing Hong Kong on top and Singapore at number two because of their free-trade policies. Their constant innovation and entrepreneurship has created a thriving market for both states, which are in heavy competition with each other”.
This bodes well not only for working expatriates, but also for younger people who have an eye towards learning their trade in an another country. Tim continued: “There are a lot of opportunities in these 'city countries' because they have top-notch economies that are very flexible and open. It is a great educational experience for students to study in a global economy. Not only do they learn their specific subject, they can witness the innovation, entrepreneurship and development in these markets”.
Both Singapore and Hong Kong were previously British colonies, Singapore entered into its current state as the Republic of Singapore in 1965 and Hong Kong reverted back to its Chinese roots in 1997.