The Venture Capital & Private Equity
Country Attractiveness Index
Alexander Groh, Heinrich Liechtenstein, Karsten Lieser and Markus Biesinger
Ranking 2021
 
Country Rank/Trend Score Country Rank/Trend Score Country Rank/Trend Score
United States 1 ‐ 100.0   Indonesia 43 ↑ 57.8   Uruguay 85 ↑ 34.8
United Kingdom 2 ‐ 90.3   Cyprus 44 ↑ 57.4   Mongolia 86 ↑ 34.8
Japan 3 ↑ 87.4   Lithuania 45 ↑ 57.3   Tanzania 87 ↑ 33.9
Germany 4 ↓ 87.3   Vietnam 46 ↑ 56.9   Botswana 88 ↓ 33.5
Canada 5 ↓ 87.2   Brazil 47 ↑ 56.5   Macedonia 89 ↑ 33.2
Singapore 6 ‐ 85.0   Bulgaria 48 ↑ 56.5   Armenia 90 ↓ 32.9
China 7 ↑ 84.7   Slovenia 49 ↓ 56.5   Bosnia-Herzegovina 91 ↑ 32.2
Australia 8 ↓ 84.0   Greece 50 ↑ 55.5   Georgia 92 ↓ 31.7
Korea, South 9 ↓ 83.8   Colombia 51 ↓ 54.9   Zambia 93 ↓ 31.4
France 10 ↑ 83.6   Philippines 52 ↑ 54.5   Azerbaijan 94 ↑ 30.3
Hong Kong 11 ↓ 82.4   Egypt 53 ↑ 54.2   Algeria 95 ↓ 29.5
Netherlands 12 ‐ 81.7   Kazakhstan 54 ↑ 54.1   Ecuador 96 ‐ 29.2
Sweden 13 ↓ 81.0   Morocco 55 ↓ 54.0   Cambodia 97 ↓ 28.4
Denmark 14 ‐ 80.8   Malta 56 ↑ 53.8   Kyrgyzstan 98 ↓ 28.3
Switzerland 15 ‐ 79.5   Croatia 57 ↓ 53.1   Malawi 99 ↑ 28.1
Finland 16 ↑ 78.9   Qatar 58 ↓ 52.3   Uganda 100 ↑ 27.8
Norway 17 ‐ 78.1   Kuwait 59 ‐ 51.9   Moldova 101 ↑ 27.0
New Zealand 18 ↓ 76.7   Peru 60 ↓ 51.8   Ivory Coast 102 ↑ 25.9
Israel 19 ↑ 76.5   Pakistan 61 ↑ 51.6   Albania 103 ↑ 25.6
Spain 20 ↑ 76.1   Iceland 62 ↑ 50.9   Bolivia 104 ↓ 25.3
Belgium 21 ↑ 75.0   Tunisia 63 ↓ 50.7   Dominican Republic 105 ↓ 24.2
Austria 22 ↑ 75.0   Latvia 64 ↓ 50.2   Guatemala 106 ↓ 24.0
Malaysia 23 ↓ 74.8   Serbia 65 ↑ 50.0   Ethiopia 107 ↓ 22.8
Ireland 24 ↓ 73.9   Argentina 66 ↓ 49.4   Mozambique 108 ‐ 22.3
Taiwan 25 ‐ 71.9   Bahrain 67 ↓ 49.2   Senegal 109 ↑ 22.1
India 26 ↑ 71.0   Oman 68 ‐ 48.4   Zimbabwe 110 ↑ 21.9
Italy 27 ↓ 70.8   Sri Lanka 69 ↓ 48.0   El Salvador 111 ↑ 21.9
Poland 28 ‐ 67.8   Mauritius 70 ↓ 47.8   Paraguay 112 ↓ 21.2
Thailand 29 ↑ 66.3   Jordan 71 ↓ 47.7   Burkina Faso 113 ↑ 20.9
Russian Federation 30 ↑ 66.1   Slovakia 72 ↓ 47.5   Mali 114 ↓ 20.5
Portugal 31 ↓ 65.4   Belarus 73 ↑ 47.3   Madagascar 115 ↑ 20.5
United Arab Emirates 32 ↑ 64.8   Nigeria 74 ↓ 46.7   Nicaragua 116 ‐ 19.9
Czech Republic 33 ↓ 64.1   Ghana 75 ↑ 45.3   Benin 117 ↑ 19.6
Chile 34 ↓ 64.0   Kenya 76 ↑ 44.8   Syria 118 ↓ 19.5
Mexico 35 ‐ 61.4   Montenegro 77 ↑ 43.9   Cameroon 119 ↓ 19.2
Luxembourg 36 ↑ 61.4   Namibia 78 ↑ 42.7   Lesotho 120 ↑ 17.0
Saudi Arabia 37 ↑ 61.4   Bangladesh 79 ↑ 41.8   Mauritania 121 ↓ 16.2
Estonia 38 ↑ 61.0   Ukraine 80 ↓ 40.7   Angola 122 ‐ 15.1
Turkey 39 ↓ 60.8   Panama 81 ↓ 40.6   Chad 123 ↑ 12.8
South Africa 40 ‐ 60.3   Jamaica 82 ↓ 39.8   Burundi 124 ‐ 12.1
Romania 41 ↑ 58.8   Rwanda 83 ↓ 38.5   Venezuela 125 ↓ 5.2
Hungary 42 ↑ 58.8   Lebanon 84 ↓ 37.6  
↑ indicates a rank increase over a five-year period. ↓ indicates a rank decrease over a five-year period.
Last updated: 21 Jun 2021