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

Georgia  
Rank: 85 · Score: 34.6  

Basic facts        
Population (millions) 3.7   IPOs and pulic issues (quartile) Bottom
GDP (US$ billions) 24.4   M&A volume (quartile) 2nd
GDP per capita (US$) 6,582.0   Venture capital investments (quartile) Bottom
GDP growth (per cent) 4.0   Private equity investments (quartile) Bottom
 
 
 
Performance Overview
Indicator   Rank / 125 Rank Trend Score
VC/PE Country Attractiveness Index 85 39, 39, 39, 40, 40 34.6
1 Economic Activity 107 16, 16, 26, 21, 18 57.8
2 Depth of Capital Market 100 29, 26, 24, 24, 25 10.9
3 Taxation 14 112, 116, 109, 111, 111 113.5
4 Investor Protection and Corporate Governance 25 100, 97, 97, 100, 100 87.1
5 Human and Social Environment 48 82, 76, 75, 75, 77 34.6
6 Entrepreneurial Opportunities 68 63, 65, 61, 59, 57 45.9


 
Historic performance, 2019-2023   Key driver performance, 2023
 

   
VC/PE Rank  
VC Rank  
PE Rank
Georgia  
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
Belarus 71.1 26.1 108.1 56.6 35.5 48.1
Ukraine 65.1 28.0 104.4 58.8 31.8 46.0
Serbia 65.0 16.3 100.7 61.6 31.1 54.8
Georgia 57.8 10.9 113.5 87.1 34.6 45.9
Macedonia 48.3 14.7 124.2 65.2 26.6 43.5
Montenegro 37.7 12.0 105.7 79.2 31.6 38.4
Bosnia-Herzegovina 52.7 14.4 102.9 49.6 21.4 38.6
Last updated: 4 Nov 2023