Best countries in APAC to start a business: 2025 startup ranking
Summary
QuickBooks’ Asia Startup Index analysed 24 APAC countries across 17 indicators grouped into five categories — infrastructure, access to capital, costs, business environment, talent and lifestyle — to identify the most favourable places to start a business. The study ranks Singapore top overall, followed by China, Hong Kong (SAR) and Thailand. Singapore scores highly on internet speed, talent and ease of doing business, but has the region’s highest cost of living. Malaysia places seventh, offering a more affordable option with solid income levels and improving AI readiness.
The Index highlights that different markets suit different founder priorities: scale and connectivity (eg Singapore), market size (eg China), regulatory friendliness and cost (several Southeast Asian and Central Asian entrants). The study also lists the top 10 APAC destinations for startups, illustrating the region’s diversity and competitive landscape.
Key Points
- Singapore is ranked 1st in APAC with an overall startup appeal score of 71.99/100 — top marks for internet speed (average 393.2 Mbps), talent and business environment.
- Singapore’s advantages: fastest internet in the region, top-ranked talent pool (strong AI readiness and high advanced-education levels), quick company registration (around 1.5 days) — offset by the highest cost of living and rent.
- Malaysia ranks 7th: a balanced ecosystem with relatively low startup costs, competitive lending environment and improving AI readiness, making it attractive for early-stage founders.
- The Index assesses five categories that matter to founders: internet speed, talent pool (AI readiness, advanced education, wages), business landscape (FDI, business density, financing, regulatory friction), cost of living (rent and cost index) and quality of life (wellbeing metrics).
- Top 10 APAC startup destinations (2025): 1 Singapore, 2 China, 3 Hong Kong (SAR), 4 Taiwan, 5 Thailand, 6 Vietnam, 7 Malaysia, 8 South Korea, 9 Georgia, 10 Kazakhstan.
- The ranking shows trade-offs founders must weigh: connectivity and talent versus costs and lifestyle — useful for deciding where to found, expand or hire.
Why should I read this?
Short version: if you’re thinking of starting or expanding a startup in APAC, this saves you hours of digging. It tells you where the tech, talent and business rules line up — and where they don’t (looking at you, rent prices). Handy for founders, investors and talent planners who need a quick read on where to set up shop in 2025.