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

Belgium  
Rank: 21 · Score: 75.0  

Basic facts, 2020        
Population (millions) 11.5   IPOs and pulic issues (quartile) Top
GDP (US$ billions) 512.3   M&A volume (quartile) 3rd
GDP per capita (US$) 44,580.5   Venture capital investments (quartile) Top
GDP growth (per cent) -6.4   Private equity investments (quartile) Top
 
 
 
Performance Overview
Indicator   Rank / 125 Rank Trend Score
VC/PE Country Attractiveness Index 21 103, 105, 104, 102, 104 75.0
1 Economic Activity 28 85, 85, 85, 92, 97 82.7
2 Depth of Capital Market 34 94, 93, 94, 92, 91 70.6
3 Taxation 13 109, 108, 107, 113, 112 105.8
4 Investor Protection and Corporate Governance 17 106, 106, 106, 106, 108 94.2
5 Human and Social Environment 25 104, 104, 104, 101, 100 46.5
6 Entrepreneurial Opportunities 17 108, 110, 107, 108, 108 82.8


 
Historic performance, 2017-2021   Key driver performance, 2021
 

   
VC/PE Rank  
VC Rank  
PE Rank
Belgium  
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
Finland 77.8 74.5 114.1 100.7 52.7 87.3
Norway 81.6 75.7 107.9 101.6 50.4 82.2
Spain 80.3 80.7 106.3 83.5 52.9 75.5
Belgium 82.7 70.6 105.8 94.2 46.5 82.8
Austria 82.1 67.1 109.3 95.7 50.9 82.0
Ireland 84.6 69.4 114.4 98.8 46.9 74.6
Italy 83.9 76.4 101.2 64.4 45.6 74.9
Last updated: 21 Jun 2021