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

Luxembourg  
Rank: 51 · Score: 51.7  

Basic facts        
Population (millions) 0.7   IPOs and pulic issues (quartile) Bottom
GDP (US$ billions) 84.1   M&A volume (quartile) 3rd
GDP per capita (US$) 129,290.4   Venture capital investments (quartile) Top
GDP growth (per cent) 1.1   Private equity investments (quartile) 3rd
 
 
 
Performance Overview
Indicator   Rank / 125 Rank Trend Score
VC/PE Country Attractiveness Index 51 77, 77, 76, 76, 74 51.7
1 Economic Activity 67 58, 66, 59, 60, 58 71.2
2 Depth of Capital Market 78 49, 47, 46, 49, 47 27.9
3 Taxation 72 54, 61, 59, 57, 53 88.0
4 Investor Protection and Corporate Governance 26 105, 103, 102, 99, 99 87.0
5 Human and Social Environment 29 95, 98, 98, 98, 96 44.7
6 Entrepreneurial Opportunities 34 92, 91, 90, 90, 91 64.5


 
Historic performance, 2019-2023   Key driver performance, 2023
 

   
VC/PE Rank  
VC Rank  
PE Rank
Luxembourg  
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