The Venture Capital & Private Equity
Country Attractiveness Index
Alexander Groh, Heinrich Liechtenstein, Karsten Lieser and Markus Biesinger
Ranking 2023
 
Country Rank/Trend Score Country Rank/Trend Score Country Rank/Trend Score
United States 1 100.0   Latvia 43 53.3   Georgia 85 34.6
United Kingdom 2 88.0   Egypt 44 53.1   Ivory Coast 86 33.8
Japan 3 86.8   Hungary 45 53.0   Macedonia 87 33.7
Canada 4 86.6   Bulgaria 46 52.7   Azerbaijan 88 33.3
Germany 5 84.6   Pakistan 47 52.7   Mongolia 89 31.3
Korea, South 6 83.1   Chile 48 52.5   Ecuador 90 31.2
Singapore 7 82.4   Cyprus 49 52.4   Botswana 91 31.2
China 8 82.2   Morocco 50 51.9   Montenegro 92 31.1
Australia 9 81.9   Luxembourg 51 51.7   Bosnia-Herzegovina 93 30.4
France 10 81.5   Slovenia 52 51.7   Uganda 94 30.4
Netherlands 11 79.3   Kazakhstan 53 49.9   Zambia 95 29.2
Norway 12 78.8   Tunisia 54 49.3   Senegal 96 28.4
Denmark 13 78.1   Oman 55 49.3   Malawi 97 28.4
Switzerland 14 76.2   Kuwait 56 49.0   Algeria 98 28.2
Hong Kong 15 75.8   Iceland 57 48.9   Armenia 99 28.1
Finland 16 75.6   Qatar 58 48.4   Dominican Republic 100 28.1
Israel 17 74.6   Malta 59 47.8   Moldova 101 27.5
India 18 74.2   Vietnam 60 47.7   Zimbabwe 102 26.4
Belgium 19 73.9   Croatia 61 46.6   Kyrgyzstan 103 25.9
Malaysia 20 73.0   Slovakia 62 46.3   Bolivia 104 25.7
Spain 21 71.4   Bahrain 63 46.0   Albania 105 25.5
Italy 22 70.7   Bangladesh 64 45.9   Lebanon 106 25.2
Taiwan 23 70.5   Colombia 65 45.7   Cambodia 107 24.4
Ireland 24 67.4   South Africa 66 45.3   Guatemala 108 23.3
Thailand 25 66.6   Jordan 67 44.2   Burkina Faso 109 22.8
Saudi Arabia 26 66.1   Kenya 68 43.6   El Salvador 110 21.8
Poland 27 65.5   Nigeria 69 43.6   Ethiopia 111 21.7
Sweden 28 64.0   Belarus 70 43.5   Madagascar 112 21.4
New Zealand 29 63.0   Peru 71 43.3   Paraguay 113 21.1
Czech Republic 30 62.7   Ukraine 72 42.9   Cameroon 114 20.6
Austria 31 62.0   Russian Federation 73 41.7   Mali 115 20.5
Estonia 32 61.3   Sri Lanka 74 41.5   Mozambique 116 20.2
United Arab Emirates 33 59.6   Argentina 75 41.5   Nicaragua 117 20.1
Portugal 34 59.0   Mauritius 76 41.3   Benin 118 19.6
Indonesia 35 58.8   Jamaica 77 41.1   Syria 119 17.9
Romania 36 58.2   Ghana 78 40.3   Lesotho 120 15.6
Turkey 37 57.8   Tanzania 79 39.7   Angola 121 14.6
Mexico 38 57.6   Panama 80 38.9   Burundi 122 12.5
Brazil 39 54.5   Serbia 81 38.4   Mauritania 123 12.4
Philippines 40 54.5   Rwanda 82 37.5   Chad 124 11.8
Lithuania 41 54.4   Namibia 83 36.7   Venezuela 125 11.6
Greece 42 54.4   Uruguay 84 36.3  
↑ indicates a rank increase over a five-year period. ↓ indicates a rank decrease over a five-year period.
Last updated: 4 Nov 2023