So many factors contributing to the cost.
By Industry Week
A new study crowns Canada as the most cost-effective place in the world to do business. The U.S. ranks fifth with China coming in at No. 11.
Labor and energy costs are important, but they’re not the only things to consider when evaluating how expensive it is to produce goods in a country. Worker productivity, regulatory concerns, transportation costs and many other factors influence how expensive a location can be.
The Manufacturing Institute partnered with KPMG to produce the report “Cost of Manufacturing Operations Around the Globe” to quantify and rank country competitiveness on multiple factors.
Country cost rankings on several factors range from 1 (the lowest) to 5 (the most expensive). While low-wage Asian countries scored well, North America dominates the Top 5, and it’s typically the higher-wage countries with the lowest overall costs.
