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World Bank launches more robust, transparent business climate rankings

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A new World Bank annual series called 'Business Ready' will replace the 'Doing Business' rankings that had been scrapped in 2021 over data irregularities and favoritism toward China.

. It cited data irregularities that also boosted rankings of other countries, including Saudi Arabia, the United Arab Emirates, and Azerbaijan.called “Business Ready” will be published in the spring of 2024, covering an initial group of 54 economies in Asia, Latin America, Europe, the Middle East, and Sub-Saharan Africa, the bank said.

World Bank Chief Economist Indermit Gill said the new approach enabled “a fuller and sharper measure of the investment climate of countries,” something he said was badly needed in a global economy in the midst of a generalized slowdown. The bank will also make available the tools needed by outsiders to replicate the results of the data assessments.

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