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Canada secures second place in 2023 Best Country Rankings

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Achieving second place might sound like a disappointment. However, the second place means a lot in the global ranking of countries, and Canada has recently secured that spot.

The 2023 Best Countries rankings by US News & World Report placed Canada in second place. In the rankings, Switzerland won the first place and Sweden in third place.

By taking up the second place, Canada toppled Germany since the country earned the second place last year. Consequently, Australia and the US occupied the fourth and fifth place in the rankings.

The ranking system

US News’ Best Countries ranking system is a yearly ranking of the best countries to live in according to several metrics. The annual ranking originally started in 2015, in which the ranking attempts to “examine a country’s merit beyond hard metrics.”

To determine the ranks, the news outlet consults several prominent institutions. They include the global advertising company WPP and the Wharton School of the University of Pennsylvania. US News & World Report uses the former’s BAV brand analytics tool and consults with the latter’s professor David Reibstein. Thus far, the news outlet relies on 73 attributes to describe a country and identify its recent successes.

Subsequently, the news outlet distributed the survey from March 17 to June 12 to 17,000 respondents around the world. The survey includes 87 nations, and the respondents will assess the countries’ merits based on their perceptions.

Other than Canada, the top 10 countries in the ranking come from highly developed countries around the world such as Switzerland, Sweden, the United States, Australia, Japan, Germany, New Zealand, the United Kingdom, and the Netherlands. 

Canada exceeded the score of 90 in agility (94.1), quality of life (92.7), and social purpose (93.4). The following scores are entrepreneurship (84.2), open for business (80.1), cultural influence (55.0), adventure (54.5), power (41.9), and heritage (41.6). 

Canada concluded its ranking by obtaining a score of 17.8 for the Movers metric with attributes such as differentness, distinctiveness, dynamicity, and uniqueness. Of the four, dynamicity occupies the top ranking with a score of 36.8. Distinctiveness takes second place in 26.3, followed by the measly scores of differentness and uniqueness of 5.0 and 9.3, respectively.

Another thing to consider in the Movers category is the recent issues of surging living costs and housing. As Canada’s housing crunch continues, this might have affected people’s perception of the reality of living in the country.

Canada’s strong scores

There are several reasons why Canada managed to snatch the runner-up position in the 2023 Best Countries rankings. Its global connectivity and decent job market, for instance, almost reached a perfect score with 95.5 and 98.4, respectively, thanks to Canada’s reputation as a highly interconnected country with good job prospects. 

According to US News, Canada is a high-tech industrial society with high living standards. After the trade agreements with the US in the 1980s and 1990s, both countries have become each other’s largest trading partners.

In addition, US News also said that Canada owes its economic success to the service sector and export of energy, food, and minerals. With the availability of proven oil reserves, Canada has emerged as the world’s fourth-largest oil producer.

Canada also won the perfect score in the racial equality and religious freedom categories. Thanks to the myriad of ethnic and religious groups in the country, Canada has attained the status of a multicultural society. Despite the post-Christian and secular state of modern Canada, Canada’s multiculturalism allows many religions and beliefs to flourish in the country.

Another reason behind Canada’s high rank in the Best Countries rankings is the near-perfect score of economic stability and hospitality to families. Owing to Canada’s famed reputation as a comfortable country to live in, many people think it’s best to raise families there.

The tourism industry in Canada is also something to behold. Canadian urban and natural tourist spots from British Columbia to Nunavut spoil domestic and foreign tourists with abundant options. Tourists can experience anything from Canada’s natural majesty to urban excellence in any of Canada’s provinces and territories.

The availability of SIM providers such as eSIM United States tourists adds to the convenience of tourists from the US and anywhere else. Various kinds of data plans are also available in Canada, which makes the country a desirable destination for travel aficionados who love to share their journeys online. With these plans, tourists don’t have to worry about internet coverage anymore when they explore Canada.

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Thomson Reuters reports Q3 profit down from year ago as revenue rises

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TORONTO – Thomson Reuters reported its third-quarter profit fell compared with a year ago as its revenue rose eight per cent.

The company, which keeps its books in U.S. dollars, says it earned US$301 million or 67 cents US per diluted share for the quarter ended Sept. 30. The result compared with a profit of US$367 million or 80 cents US per diluted share in the same quarter a year earlier.

Revenue for the quarter totalled US$1.72 billion, up from US$1.59 billion a year earlier.

In its outlook, Thomson Reuters says it now expects organic revenue growth of 7.0 per cent for its full year, up from earlier expectations for growth of 6.5 per cent.

On an adjusted basis, Thomson Reuters says it earned 80 cents US per share in its latest quarter, down from an adjusted profit of 82 cents US per share in the same quarter last year.

The average analyst estimate had been for a profit of 76 cents US per share, according to LSEG Data & Analytics.

This report by The Canadian Press was first published Nov. 5, 2024.

Companies in this story: (TSX:TRI)

The Canadian Press. All rights reserved.



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September merchandise trade deficit narrows to $1.3 billion: Statistics Canada

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OTTAWA – Statistics Canada says the country’s merchandise trade deficit narrowed to $1.3 billion in September as imports fell more than exports.

The result compared with a revised deficit of $1.5 billion for August. The initial estimate for August released last month had shown a deficit of $1.1 billion.

Statistics Canada says the results for September came as total exports edged down 0.1 per cent to $63.9 billion.

Exports of metal and non-metallic mineral products fell 5.4 per cent as exports of unwrought gold, silver, and platinum group metals, and their alloys, decreased 15.4 per cent. Exports of energy products dropped 2.6 per cent as lower prices weighed on crude oil exports.

Meanwhile, imports for September fell 0.4 per cent to $65.1 billion as imports of metal and non-metallic mineral products dropped 12.7 per cent.

In volume terms, total exports rose 1.4 per cent in September while total imports were essentially unchanged in September.

This report by The Canadian Press was first published Nov. 5, 2024.

The Canadian Press. All rights reserved.



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5 things to watch for as Americans head to the polls on election day

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WASHINGTON – Americans are facing a decision about the future of their country and no matter which president they choose, Canada cannot escape the pull of political polarization from its closest neighbour.

Vice-President Kamala Harris and former president Donald Trump present starkly different paths forward for the United States and the race for the White House appears to be extremely close.

The U.S. is Canada’s largest trading partner and its next president will be in charge during the review of the Canada-U.S.-Mexico agreement in 2026.

Harris has campaigned on the fact that she voted against the trilateral agreement, saying it didn’t do enough to protect American workers or the environment. The vice-president is largely expected to maintain President Joe Biden’s Buy American procurement rules.

The centrepiece of Trump’s agenda is a proposed 10 per cent across-the-board tariff.

More than 77 per cent of Canadian exports go to the U.S. and 60 per cent of Canada’s gross domestic product is derived from trade.

The campaign has been unprecedented and tumultuous. Biden removed himself from the Democrats’ ticket after a disastrous presidential debate and Harris became the presidential candidate a little more than three months before election day.

There were also two assassination attempts on Trump. The image of blood streaming down his face, with a fist in the air, became a rallying call for the Republican leader’s most ardent supporters.

Here are five things to watch for as the votes come in:

Pennsylvania: Whichever candidate gets 270 electoral college votes gets the presidency. Pennsylvania’s 19 votes could prove the most crucial this election.

Both campaigns have indicated the state is part of their path to victory, and whoever wins the Keystone State may only need two other battleground states to take the White House.

What happens in Pennsylvania may also signal voting in the two other Midwestern battleground states.

“If you are looking at Pennsylvania, think about how voters in Pennsylvania, Michigan and Wisconsin are similar to each other,” said Matthew Lebo, a specialist in U.S. politics at Western University in London, Ont.

Other battleground states: Americans living in six other battleground states will play a critical role in the outcome on Tuesday.

Wisconsin and Michigan went to Trump in 2016 and swung to Biden in 2020.

Michigan may be of interest to many Canadians: Canada is that state’s top export market and it imported about US$50.9 billion in goods from its northern neighbour last year.

Georgia, North Carolina and the sunbelt states of Arizona and Nevada could also be key indicators for who will take the White House.

Senate: American voters will be making multiple choices in the voting booth, electing not only the president but also members of the Senate and the House of Representatives. Those down-ballot races are extremely important to determine who controls each chamber of Congress.

The Democrats currently control the Senate by a slim margin and 34 seats are up for grabs.

The Senate controls the process for presidents to appoint cabinet positions and has power over treaties. Depending on who is in control, there could be consequences for Canada, Lebo said.

For example, Trump has suggested vaccine-skeptic Robert F. Kennedy Jr. would have a big role in the administration, including public health policy.

“As Canadians, we want Americans to continue to get vaccinated,” Lebo said.

Specific races to watch: Democrat Sen. Jon Tester against Republican Tim Sheehy in Montana; GOP Sen. Ted Cruz versus Democrat Colin Allred in Texas and longtime Ohio Democrat Sen. Sherrod Brown against Republican Bernie Moreno.

House of Representatives: All 435 seats in the House are up for grabs this election and the outcome could have far-reaching consequences for the incoming president. Republicans currently have a majority, but only by a small margin.

Specific races to watch: Virginia’s open-seat contest between Democrat Eugene Vindman and Republican Derrick Anderson; another open-seat contest in Michigan between Democrat Curtis Hertel and Republican Tom Barrett; and Nebraska’s fight between Republican incumbent Don Bacon and Democratic challenger Tony Vargas.

Misinformation: Trump has spent his final days on the campaign trail pushing baseless claims about the integrity of the election. He also said he shouldn’t have left the White House at the end of his last tenure, when he lost the election to Biden.

Whether his claims will motivate supporters to the polls remains to be seen but there’s worry it could sow chaos in the wake of the election, akin to when Trump loyalists stormed Capitol Hill on Jan. 6, 2021.

There are also concerns about misinformation being spread by foreign actors. U.S. intelligence officials have already pointed to videos purporting to show voter fraud in Georgia and Pennsylvania as the work of “Russian influence actors.”

U.S. officials say the goal is to stoke division and raise questions about the outcome of the election.

This report by The Canadian Press was first published Nov. 5, 2024.

— With files from The Associated Press



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