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

Macedonia  
Rank: 73 · Score: 47.5  

Basic facts, 2015        
Population (millions) 2.1   IPOs and pulic issues (quartile) Bottom
GDP (US$ billions) 10.1   M&A volume (quartile) Bottom
GDP per capita (US$) 4,903.8   Venture capital investments (quartile) Bottom
GDP growth (per cent) 3.5   Private equity investments (quartile) Bottom
 
 
 
Performance Overview
Indicator   Rank / 125 Rank Trend Score
VCPE Country Attractiveness Index 73 42, 43, 48, 51, 52 47.5
1 Economic Activity 118 4, 3, 3, 5, 7 53.7
2 Depth of Capital Market 88 39, 39, 43, 41, 37 26.6
3 Taxation 41 46, 48, 47, 86, 84 103.0
4 Investor Protection and Corporate Governance 44 62, 65, 77, 86, 81 68.5
5 Human and Social Environment 35 81, 79, 83, 91, 90 62.5
6 Entrepreneurial Opportunities 51 55, 56, 64, 67, 74 58.1


 
Historic performance, 2012-2016   Key driver performance, 2016

   

VCPE Rank  
VC Rank  
PE Rank
Macedonia  
Eastern Europe
 
 
 
Peer Group Comparison
 
Regional Peers Economic Activity Depth of Capital Market Taxation Investor Protection and
Corporate Governance
Human and Social
Envorinment
Entrepreneurial Culture
and Deal Opportunites
Slovakia 81.4 39.7 102.2 60.7 44.8 60.5
Georgia 74.3 39.6 103.5 73.3 52.6 50.2
Ukraine 57.5 50.5 101.9 46.2 29.8 56.0
Macedonia 53.7 26.6 103.0 68.5 62.5 58.1
Serbia 63.5 34.7 77.6 49.3 43.0 51.1
Croatia 71.5 27.9 105.1 59.1 39.3 56.8
Montenegro 64.4 25.1 94.7 66.3 53.0 49.7
Last updated: 8 August 2016