- As we get ready for a scintillating World Cup final between footballing giants Argentina and Germany, we take a look at which country comes out on top in terms of business.
- TMF Netherlands B.V.
This weekend, Argentina takes on Germany in the World Cup Final for the third time – an historical occurrence. It stands even, with Argentina reigning victorious in 1986 and Germany taking the trophy in 1990. But what do these two countries have going for them (other than football that is)?
Here’s an old-fashioned stat face-off:
|Average number of days to start a business||25 days||14.5 days|
|Average time it takes to get electricity||91 days||17 days|
|Average time it takes to prepare, file and pay taxes||405 hours per year||218 hours per year
Yet figures don’t give the whole picture. Argentina is one of the largest economies in Latin America, with a GDP of more than US$490 billion. It also has fantastic relations with rising neighbour Brazil and is home to valuable natural resources – the Vaca Muerta shale-oil and gasfield is thought to be the world’s third largest.
Although the country is facing some challenges with its economy and inflation, the fact remains that it experienced the fastest growth of the Latin American economies between 2002 and 2012 and growth is predicted again this year. The 2015 presidential elections are another reason to hope for Argentina’s future, presenting real opportunity for change.
Germany needs little introduction and like its football team looks unstoppable. It is Europe’s biggest economy, driving the region’s recovery; it also has the largest population in Europe, of which more than three-quarters are trained to university level.
As expected, an extremely pro-business culture exists in Germany, hence its ranking as the 21st easiest place in the world in which to do business (World Bank). It’s not all roses though, as in terms of the ease of starting a business Germany sits in a low 111th position, having dropped seven places since last year. But all-in-all, it’s a safe bet.
So, who wins? It’s difficult to call – on the one hand we have an emerging economy with unbounded potential and on the other is a well-established and familiar market…looks like this one is headed for penalties.