Canada outranks the United States, China, and every other country in the world when it comes to the cost-effectiveness of doing business says a recent report by The Manufacturing Institute and KPMG.
The report, titled “Cost of Manufacturing Operations Around the Globe” looked at Canada’s biggest trade partners and evaluated 23 factors including labour, energy costs, worker productivity, regulatory concerns, transportation costs, and many others that influence how expensive a location can be.
Canada outperforms on primary and secondary costs, specifically its ability to offer lower hourly compensation costs and lower electricity rates.
The report also found that countries that typically have higher wages also have the lowest overall costs.
Read more: Cost of Doing Business Worldwide: How Countries Stack Up (Slideshow) | IndustryWeek
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