Which Country to Move to If You're Young and Want to Be Your Own Boss Set yourself up for success abroad.

By Lydia Belanger

Opinions expressed by Entrepreneur contributors are their own.

Lok Yiu Cheung/EyeEm | Getty Images

Forget debates about whether you should plant roots on one of the U.S. coasts or flock to the middle of the country to forge a startup hub. If you're thinking about making a move to pursue entrepreneurship, look beyond American borders.

Expert Market, a U.K.-based B2B product comparison site, recently conducted a study to determine the best countries for young, aspiring entrepreneurs and freelancers seeking a more flexible lifestyle. They examined data from The World Bank, The World Economic Forum, Numbeo, KPMG, Wifimap.io and Akamai's State of the Internet Report.

One factor the researchers weighed heavily was cost of living -- as well as the cost of a cup of coffee, for hustlers who run on caffeine. They also took income tax rates, access to credit, access to public transportation, the ease of starting a business, average internet speeds and the prevalence of free Wi-Fi into account. Then, they compiled a ranking of the world's 57 largest countries, based on their suitability for millennials who dream of self-employment.

Related: The Countries With the Most Determined Entrepreneurs (Infographic)

Hong Kong, a global financial hub, topped the list. It's public transit system, relatively low personal income tax rate of 15 percent (third-lowest of the 57 countries) and access to credit propelled it to the number-one spot in the ranking. Expert Market also highlighted the United Arab Emirates, which came in fourth place, for being tax-free.

Five of the bottom 10 countries are in Central or South America, while no countries from this region made the top 10. Half of the countries in the top 10 are European countries.

If you're thinking of moving Down Under, consider New Zealand, rather than Australia. The larger Oceanic island nation came in 26th -- it's more expensive to live there.

And turns out, if you already live in America, you may want to stay put. The U.S. came in second place, thanks to good transportation, abundant Wi-Fi (more than half a million spots) and access to credit from banks.

But if you want to get away, check out the full ranking below:

1. Hong Kong
2. United States
3. South Korea
4. United Arab Emirates
5. United Kingdom
6. Spain
7. New Zealand
8. Estonia
9. Bulgaria
10. Czech Republic
11. Latvia
12. France
13. Portugal
14. Lithuania
15. Qatar
16. Denmark
17. Switzerland
18. Germany
19. Turkey
20. Norway
21. Romania
22. Saudi Arabia
23. China
24. Netherlands
25. Poland
26. Australia
27. Sweden
28. Hungary
29. Finland
30. Mexico
31. Japan
32. Cyprus
33. Chile
34. Panama
35. South Africa
36. Italy
37. Morocco
38. Indonesia
39. Iceland
40. India
41. Croatia
42. Egypt
43. Austria
44. Colombia
45. Brazil
46. Greece
47. Malta
48. Peru
49. Belgium
50. Ireland
51. Costa Rica
52. Slovenia
53. Ecuador
54. Philippines
55. Israel
56. Argentina
57. Uruguay

Related video: Should You Keep Everyone in a Single Office or Hire Remote Employees?

Lydia Belanger is a former associate editor at Entrepreneur. Follow her on Twitter: @LydiaBelanger.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Business News

JPMorgan Shuts Down Internal Message Board Comments After Employees React to Return-to-Office Mandate

Employees were given the option to leave comments about the RTO mandate with their first and last names on display — and they did not hold back.

Innovation

4 Ways Market Leaders Use Innovation to Foster Business Growth

Forward-thinkers constantly strive to diversify and streamline their products and services, turning novelties into commodities desired by many.

Franchise

Jersey Mike's Switched Up Its Strategy for Serving Customers This Year — Then Blackstone Bought the Sandwich Chain for $8 Billion

The New Jersey sub franchise has dialed in on strategies to serve customers in stores and online, as proven by its recent acquisition.

Franchise

The One Factor the Top Franchises of 2025 Have in Common

Here's how we determined the companies in our annual Franchise 500 ranking, and what we learned from the data.

Franchise

12 Businesses Share Their Biggest Marketing Wins, From a Social Media Scavenger Hunt to Lovable Mascot

You don't need a huge budget to get people's attention, or win over loyal customers. Sometimes you just need a little creativity.

Franchise

The Growth of These 4 Franchise Concepts Shows Where the Industry Is Going

From autism services to self-pour bars, these concepts in franchising can tell us where the industry is headed.