The Venture Capital & Private Equity
Country Attractiveness Index
Alexander Groh, Heinrich Liechtenstein, Karsten Lieser and Markus Biesinger

Bosnia-Herzegovina  
Rank: 93 · Score: 30.4  

Basic facts        
Population (millions) 3.2   IPOs and pulic issues (quartile) Bottom
GDP (US$ billions) 24.2   M&A volume (quartile) Bottom
GDP per capita (US$) 7,478.2   Venture capital investments (quartile) Bottom
GDP growth (per cent) 2.0   Private equity investments (quartile) Bottom
 
 
 
Performance Overview
Indicator   Rank / 125 Rank Trend Score
VC/PE Country Attractiveness Index 93 31, 30, 31, 29, 32 30.4
1 Economic Activity 114 8, 13, 13, 11, 11 52.7
2 Depth of Capital Market 88 35, 37, 37, 36, 37 14.4
3 Taxation 35 83, 83, 88, 89, 90 102.9
4 Investor Protection and Corporate Governance 94 32, 29, 29, 31, 31 49.6
5 Human and Social Environment 110 27, 16, 15, 15, 15 21.4
6 Entrepreneurial Opportunities 86 39, 37, 38, 39, 39 38.6


 
Historic performance, 2019-2023   Key driver performance, 2023
 

   
VC/PE Rank  
VC Rank  
PE Rank
Bosnia-Herzegovina  
Eastern Europe
 
 
 
Peer Group Comparison
 
Regional Peers Economic Activity Depth of Capital Market Taxation Investor Protection and
Corporate Governance
Human and Social
Environment
Entrepreneurial
Opportunites
Serbia 65.0 16.3 100.7 61.6 31.1 54.8
Georgia 57.8 10.9 113.5 87.1 34.6 45.9
Macedonia 48.3 14.7 124.2 65.2 26.6 43.5
Montenegro 37.7 12.0 105.7 79.2 31.6 38.4
Bosnia-Herzegovina 52.7 14.4 102.9 49.6 21.4 38.6
Moldova 62.1 6.9 117.6 65.3 26.9 40.3
Albania 54.6 6.4 99.0 59.7 28.3 36.0
Last updated: 4 Nov 2023