Japan jumps to No. 2, from sixth place, in best countries index
Elizabeth Beattie
Tokyo: Japan is the second-best country in the world, according to a ranking published by U.S. News & World Report with input from the Wharton School of the University of Pennsylvania.
It jumped from 6th place on the 2023 list as a post-COVID boom and reforms helped bump it up on the subindexes used to calculate the overall score.
Switzerland is No. 1 in the 2024 rankings, the United States is No. 3 and the United Kingdom is No. 8.
For the index, U.S. News rates countries based on a variety of subcategories, including openness for business, power, adventure, social purpose and cultural influence.
Japan has experienced a postpandemic boom, with tourists pouring back in after restrictions closed the country’s borders to travelers. It has also become a key target for international investment in part due to wide-ranging corporate reforms and rising stock prices.
Japan did well in the entrepreneurial category, which scores countries based on their connections to the rest of the world, education, innovation, skill, infrastructure development and whether they possess a robust legal framework to underpin the corporate environment.
“For countries to spread prosperity to citizens, governments must find industries where they can compete globally in the digital age. These countries are seen as innovative with educated and enterprising citizens,” the publication wrote in discussing the rankings.
The Best Countries index is in its ninth year and ranks 89 nations. The data are gathered by researchers surveying around 17,000 individuals in 36 countries, including business leaders and “citizens who are nationally representative of their country.”
Switzerland has ranked No. 1 seven times, while the U.S. at No. 3 is an all-time best for the country. An improved perception of business openness helped the United States.
In the quality of life category, Denmark, Sweden and Switzerland ranked in the top three in the 2024 survey, while Italy, France and the United States took out the top three places in the cultural influence subranking.
The results provide a snapshot of how nations are perceived on the world stage, according to U.S. News executive chairman and CEO Eric Gertler.
“The report sheds light on a country’s potential for economic, political and cultural success and can serve as a strategic decision-making tool for citizens, business leaders and governments to better evaluate their countries,” Gertler said.
The rankings also offer insight into attitudes on various issues. More than 80% of survey respondents in Vietnam, China and Thailand are relatively open to artificial intelligence, agreeing with the statement that it offers more benefits than threats. In the West, it was seen as more of a threat.
“The Best Countries report speaks to the value of having a strong global image as nations compete for foreign trade, tourists and socioeconomic influence,” said David Reibstein, professor of marketing at the Wharton School.
“The Best Countries ranking is more than a beauty contest. Global leaders need to realize that how their countries are viewed affects their economies through tourism, foreign direct investment and foreign trade, all critical components of their GDP,” Reibstein said.
