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

Turkey  
Rank: 37 · Score: 57.8  

Basic facts        
Population (millions) 12.4   IPOs and pulic issues (quartile) Top
GDP (US$ billions) 874.0   M&A volume (quartile) 3rd
GDP per capita (US$) 70,736.9   Venture capital investments (quartile) Top
GDP growth (per cent) 1.3   Private equity investments (quartile) Top
 
 
 
Performance Overview
Indicator   Rank / 125 Rank Trend Score
VC/PE Country Attractiveness Index 37 88, 90, 91, 88, 88 57.8
1 Economic Activity 71 39, 65, 75, 65, 54 70.4
2 Depth of Capital Market 25 94, 95, 97, 97, 100 68.2
3 Taxation 53 80, 80, 74, 71, 72 95.5
4 Investor Protection and Corporate Governance 61 54, 66, 62, 64, 64 65.7
5 Human and Social Environment 61 74, 70, 71, 69, 64 31.9
6 Entrepreneurial Opportunities 56 73, 74, 72, 71, 69 50.6


 
Historic performance, 2019-2023   Key driver performance, 2023
 

   
VC/PE Rank  
VC Rank  
PE Rank
Turkey  
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
Czech Republic 79.4 53.5 104.0 73.8 41.3 69.3
Estonia 62.9 55.7 106.4 84.3 45.1 60.1
Romania 79.5 53.4 109.4 73.0 36.0 54.8
Turkey 70.4 68.2 95.5 65.7 31.9 50.6
Lithuania 67.0 41.6 114.8 79.3 37.6 56.8
Latvia 63.5 43.4 103.8 79.6 37.6 52.0
Hungary 76.4 38.4 119.1 61.1 34.2 63.7
Last updated: 4 Nov 2023