Top eight investment destinations for Nigerians

Diversification of your resources is necessary towards achieving a risk-adjusted return of your investment capital (alpha). One of the best ways to diversify is to invest internationally, be it investing in the stock market, startup, or simply setting up a business.

Below are lists of countries you can invest in as a Nigerian;

1. Singapore: According to United Nations’ estimates, Singapore has a population of 5.85 million as of May 2019.  The country’s total GDP as of 2018 is $361 billion. It has a GDP growth rate of 3.2%.

Reasons to invest in Singapore:

• Singapore is known for its well-developed financial and trade sectors, its low tax regime, and openness towards foreign investment.
• The company formation process in Singapore is a quick and easy one, another important advantage for foreign investors.
• Singapore is a strong financial centre that offers a number of trade and investment options.

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2. Switzerland: This European country has a population of 8.6 million as of May 2019. This is according to United Nations’ estimates. Its total GDP as of 2018 is $703 billion. GDP grows at 2.5% (2018 estimated).

Reasons to invest in Switzerland:

• Switzerland is a good climate for investments due to its financial stability, strong purchasing power, low inflation, a strong currency, and solid public finances.
• Switzerland provides a business-friendly environment mainly through the legal structure and special tax regimes. Switzerland offers the necessary platform to host small and medium-sized businesses with more than 90% of Swiss companies having less than 250 employees. – Source: sigtax.com

3. Hong Kong: With a population of 7.4 million people (May 2019) according to United Nations’ estimates, Hong Kong has a total GDP of $484 billion (2018 estimated). GDP growth is 2.3% (2018 forecast).

Reasons to invest in Hong Kong:

• Hong Kong is a doorway to China and the rest of Asia for foreign investors.
• Hong Kong has a low, simple, and competitive system.
• Hong Kong has an open business environment.

4. Canada: The country’s population is 37.2 million (May 2019) – Source: United Nations estimates. Total GDP is $1.8 trillion. GDP growth is 1.8%.

Reasons to invest in Canada:

• Canada has a sound, vibrant and innovative financial system with a proactive approach to long-term fiscal policy. – Blackrock, 2016
• Canada has a diverse and inclusive economy, a skilled and talented workforce with accessible programs to enhance and boost innovation. – investincanada.ca

5. USA: Population stands at 328 million (May 2019) according to United Nations’ estimates. Total GDP is $19.5 trillion. GDP growth is 2.9%.

Reasons to invest in the USA:

• The USA offers the largest consumer market on earth. Household spending is the highest in the world, accounting for nearly a third of global household consumption.
• The USA is consistently ranked among the best internationally for its competitiveness and ease of doing business. – Source: selectusa.gov

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6. Ireland: This country has a population of just  4.8 million (May 2019) – Source: United Nations’ estimates. Total GDP is $366 billion.  GDP growth is 6.7% according to Countryeconomy.com.

Reasons to invest in Ireland:

• Ireland has a small, highly globalized economy, with a well-established FDI sector generating significant exports business sectors.
• The Irish economy is the fastest growing in the Eurozone.
• Key rankings for Ireland according in the 2018 IMD World Competitiveness Yearbook are as follows;
• Economic Performance: 1^st for real GDP growth.
• Government Efficiency: 1^st for investment incentives.
• Business Efficiency: 1^st for productivity industry.
• Infrastructure: 1^st for value added in knowledge and technology. Source: Reports on facts about Ireland by IDAIRELAND

7. China: Population is 1.4 billion (May 2019) according to United Nations’ estimates. Total GDP: $27.3 trillion. GDP growth is 6.7% according to Countryeconomy.com

Reasons to invest in China:

• China has many free trade zones. Therefore, establishing a business has many advantages for foreign investors, including tax exemptions and free conversion of Chinese currency to any international currency.
• China has a highly educated and competent workforce.
• China has a large local market so this presents an opportunity for investors to sell to a sizeable Chinese market.

8. Philippines: The population is 261 million (May 2019) – Source: United Nations’ estimates. Total GDP is $330 billion. GDP growth is 6.2%.

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Reasons to invest in the Philippines:

• Philippines has evolved from its agricultural focus towards a much more service-based model with the agricultural sector accounting for about 9% of its GDP, while the service sector accounts for around 60%.
• Experts are predicting the country to be the second fastest growing economy in Asia (behind India) in the next few years, and the world’s 15^th largest economy by 2050.

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