Above: San Juan, Puerto Rico (CJ Photo)
By the Caribbean Journal staff
What’s the best island in the Caribbean for ease of doing business?
According to the newest edition of the World Bank’s annual Doing Business report, it’s Puerto Rico — again.
Puerto Rico ranked 47th in the world for the ease of doing business, just ahead of Romania and behind Rwanda.
The Doing Business project, which first launched in 2002, provides what it calls “objective measures of business regulations and their enforcement across 189 economies and selected cities at the subnational and regional level.”
The top-ranked CARICOM country for doing business was Jamaica, which showed significant improvement following a number of reforms this year to jump to 58th in the world. It had been ranked 94th last year.
The island seeing the biggest drop-off was St Lucia. The Eastern Caribbean island had been the top-ranked CARICOM country last year, ranked 64th in the world.
This year, however, St Lucia fell all the way to 100th overall in the world.
For the full rankings, see the chart below.