Entrepreneurs in the Arab world who may be self-funding, are bootstrapping, or are just looking for an inexpensive place to start their business, may not need to look as far as they thought.
Research by startup blog Funders and Founders, based on the cost of living and specific services for entrepreneurs, reveals the top 13 countries for “starting a startup with your own money.” The list, which names three Arab countries, includes Egypt, Jordan, Morocco, Poland, Bulgaria, Thailand, India, Macedonia, Ecuador, Portugal, Malaysia, Nicaragua and Mexico.
Countries included in the list are characterized by having the proper infrastructure, a suitable price for internet, lenient policy for foreign founders, simplified procedures for visas, and low costs for basic services such as accommodation and food. The research did not include countries that they judged unsuitable for starting a business, with a poor infrastructure or a risky security situation.
Some of the study’s results, presented in the infographic below, include:
- Egypt ranks first among Arab countries and second globally in terms of providing a low-cost environment for entrepreneurs.
- India ranks first globally in the list of countries that have lower living cost for new entrepreneurs.
- In Europe, Bulgaria, Portugal, Macedonia and Poland are considered the most convenient countries for startups with limited budgets.
- With $6,000 in India, you can comfortably bootstrap for 6 months (eating at restaurants for every meal).
- Morocco (Casablanca) this year rated the 3rd most welcoming country for outsiders in the world.