For all the talk about the potential of emerging markets, developed economies in North America, Western Europe and Asia remain the best places to do business, according to The Economist Intelligence Unit’s latest Business Environment Rankings (BER). Canada improves three places between 2009-13 and 2014-18, to the world’s fourth best investment location after Singapore, Switzerland and Hong Kong. It ranks extremely well on market opportunities, owing to high levels of GDP per capita, strong trade flows and a wealth of natural resources, which will continue to be a source of macroeconomic strength. Foreign trade and exchange controls also remain an area of strength, despite some protection in some sectors and incomplete efforts to diversify export markets. Tight regulation and relatively cautious lending policies will maintain the soundness of the banking sector. Tax remains one of Canada’s weaker categories, reflecting the complexity of the corporate tax system, which is a mixture of federal and provincial tax regimes, but a lower score in this area will not detract from the overall attractiveness of Canada’s business environment.