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

Panama  
Rank: 80 · Score: 38.9  

Basic facts        
Population (millions) 4.4   IPOs and pulic issues (quartile) Bottom
GDP (US$ billions) 72.0   M&A volume (quartile) 2nd
GDP per capita (US$) 16,333.4   Venture capital investments (quartile) 2nd
GDP growth (per cent) 5.0   Private equity investments (quartile) Bottom
 
 
 
Performance Overview
Indicator   Rank / 125 Rank Trend Score
VC/PE Country Attractiveness Index 80 48, 45, 44, 46, 45 38.9
1 Economic Activity 73 60, 20, 25, 49, 52 70.1
2 Depth of Capital Market 76 62, 60, 59, 54, 49 28.5
3 Taxation 90 19, 36, 39, 36, 35 75.3
4 Investor Protection and Corporate Governance 81 51, 47, 43, 44, 44 59.6
5 Human and Social Environment 95 29, 28, 29, 30, 30 25.2
6 Entrepreneurial Opportunities 93 32, 30, 29, 29, 32 35.0


 
Historic performance, 2019-2023   Key driver performance, 2023
 

   
VC/PE Rank  
VC Rank  
PE Rank
Panama  
Latin America
 
 
 
Peer Group Comparison
 
Regional Peers Economic Activity Depth of Capital Market Taxation Investor Protection and
Corporate Governance
Human and Social
Environment
Entrepreneurial
Opportunites
Peru 78.8 33.0 73.3 60.9 23.2 44.4
Argentina 77.3 30.9 28.2 53.8 25.8 49.7
Jamaica 55.9 30.4 76.2 67.6 32.1 37.2
Panama 70.1 28.5 75.3 59.6 25.2 35.0
Uruguay 68.0 14.2 86.7 65.9 32.2 48.4
Ecuador 75.5 14.6 77.8 47.6 23.2 35.2
Dominican Republic 73.0 12.4 81.5 56.1 25.0 24.3
Last updated: 4 Nov 2023