Canada ranked second most competitive for business among leading industrial nations

TORONTO – Accounting giant KPMG says Canada has proven to be second best market in a comparison test of 10 leading industrial countries.

Top 10 competitive countries

Accounting giant KPMG says Canada was the second most competitive market inside a comparison of 10 leading industrial countries. Following may be the list of countries so as.
1. Mexico
2. Canada
3. The Netherlands
4. Italy
5. Australia
6. France
7. United Kingdom
8. Germany
9. Japan
10. United States

In its report, KPMG says Canada lags only behind Mexico with regards to how little businesses have to pay for labour, facilities, transportation and taxes.

The report, which compared the competitiveness of the number of western countries together with Australia and Japan, discovered that a high U.S. dollar helps Canada stay affordable despite rising office property costs minimizing federal tax credits.

When it comes to corporate income taxes, it found that Canada, the U.K. and the Netherlands had the lowest rates overall due to tax incentives to aid high-tech and research and development.

KPMG also looked at the competitiveness of more than 100 cities worldwide. It ranked Fredericton, N.B., as the most cost-effective city in Canada due to low labour costs and continued low costs for property leases.

Montreal topped the list among 34 major cities in The united states, followed by Toronto and Vancouver. The three Canadian cities outperform all U.S. cities.

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Although there have been concerns over the impact of the weakening loonie around the economy, using a low Canadian dollar has actually been “a driver in improving Canada’s competitiveness and overall cost advantage,” KPMG said.

As a result, that has managed to get more attractive for businesses to setup shop north from the border compared to the U.S., it said.