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

Eastern Europe  
Rank: 6 · Score: 53.6  

Basic facts, 2020        
Population (millions) 260.8   IPOs and pulic issues (quartile) Bottom
GDP (US$ billions) 2,707.0   M&A volume (quartile) Bottom
GDP per capita (US$) 10,377.8   Venture capital investments (quartile) Bottom
GDP growth (per cent) -2.5   Private equity investments (quartile) Bottom
 
 
 
Performance Overview
Indicator   Rank / 125 Rank Trend Score
VC/PE Country Attractiveness Index 6 119, 119, 119, 119, 119 53.6
1 Economic Activity 7 118, 118, 120, 119, 118 68.6
2 Depth of Capital Market 6 119, 119, 119, 119, 119 45.5
3 Taxation 4 121, 121, 121, 121, 121 95.1
4 Investor Protection and Corporate Governance 5 120, 120, 120, 120, 120 71.2
5 Human and Social Environment 6 119, 119, 119, 119, 119 33.9
6 Entrepreneurial Opportunities 5 120, 120, 120, 120, 120 55.8


 
Historic performance, 2017-2021   Key driver performance, 2021
 

   
VCPE Rank  
VC Rank  
PE Rank
Eastern Europe  
World
 
 
 
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
North America 95.0 95.8 100.2 101.5 89.3 94.3
Australasia 83.2 80.7 101.8 107.4 56.0 82.3
Western Europe 79.3 71.1 106.4 89.8 57.5 79.0
Asia 81.8 66.0 91.7 76.7 42.9 62.8
Middle East 71.9 54.5 88.9 69.3 36.6 51.8
Eastern Europe 68.6 45.5 95.1 71.2 33.9 55.8
Latin America 62.4 28.5 82.2 59.0 26.5 35.9
Africa 62.4 28.5 82.2 59.0 26.5 35.9
Last updated: 21 Jun 2021