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

Iceland  
Rank: 57 · Score: 48.9  

Basic facts        
Population (millions) 0.4   IPOs and pulic issues (quartile) Bottom
GDP (US$ billions) 27.9   M&A volume (quartile) 2nd
GDP per capita (US$) 73,112.6   Venture capital investments (quartile) 3rd
GDP growth (per cent) 2.3   Private equity investments (quartile) 3rd
 
 
 
Performance Overview
Indicator   Rank / 125 Rank Trend Score
VC/PE Country Attractiveness Index 57 61, 58, 57, 71, 68 48.9
1 Economic Activity 94 46, 33, 31, 39, 31 63.4
2 Depth of Capital Market 83 41, 39, 39, 42, 42 20.7
3 Taxation 47 79, 79, 77, 77, 78 99.0
4 Investor Protection and Corporate Governance 10 114, 114, 115, 115, 115 99.3
5 Human and Social Environment 23 103, 103, 103, 103, 102 48.1
6 Entrepreneurial Opportunities 31 95, 95, 94, 94, 94 67.2


 
Historic performance, 2019-2023   Key driver performance, 2023
 

   
VC/PE Rank  
VC Rank  
PE Rank
Iceland  
Western Europe
 
 
 
Peer Group Comparison
 
Regional Peers Economic Activity Depth of Capital Market Taxation Investor Protection and
Corporate Governance
Human and Social
Environment
Entrepreneurial
Opportunites
Austria 78.8 36.7 90.2 95.8 49.8 82.0
Portugal 76.1 44.7 99.2 74.0 41.0 69.0
Greece 66.1 45.9 98.1 61.2 38.9 59.9
Cyprus 62.2 39.7 115.9 82.2 38.3 51.9
Luxembourg 71.2 27.9 88.0 87.0 44.7 64.5
Iceland 63.4 20.7 99.0 99.3 48.1 67.2
Malta 62.5 39.5 29.6 76.4 36.7 49.9
Last updated: 4 Nov 2023