{"id":3909,"date":"2012-05-08T19:32:29","date_gmt":"2012-05-08T18:32:29","guid":{"rendered":"https:\/\/blog.iese.edu\/vcpeindex\/?page_id=3909"},"modified":"2023-11-03T22:39:00","modified_gmt":"2023-11-03T20:39:00","slug":"cyprus","status":"publish","type":"page","link":"https:\/\/blog.iese.edu\/vcpeindex\/cyprus\/","title":{"rendered":"Cyprus"},"content":{"rendered":"<p><script src=\"https:\/\/omnipotent.net\/jquery.sparkline\/2.1.2\/jquery.sparkline.min.js\"><\/script><\/p>\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"line-height:36px; width:100%;\">\n<tr>\n<td style=\"font-size:32px; font-weight:bold; width:50%;\">Cyprus<\/td>\n<td style=\"width:50%;\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td style=\"font-size:20px;\">Rank: 49 &middot; Score: 52.4<\/td>\n<td style=\"text-align:right;\">&nbsp;<\/td>\n<\/tr>\n<\/table>\n<p><\/p>\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"line-height:36px; width:100%;\">\n<tr>\n<td style=\"color:#999; font-size:10px; width:36%;\">Basic facts<\/td>\n<td style=\"width:11%;\">&nbsp;<\/td>\n<td style=\"width:6%;\">&nbsp;<\/td>\n<td style=\"width:36%;\">&nbsp;<\/td>\n<td style=\"width:11%;\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC;\">Population (millions)<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:right;\">1.3<\/td>\n<td style=\"\">&nbsp;<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">IPOs and pulic issues (quartile)<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:right;\">3rd<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC;\">GDP (US$ billions)<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:right;\">28.3<\/td>\n<td style=\"\">&nbsp;<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">M&amp;A volume (quartile)<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:right;\">3rd<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC;\">GDP per capita (US$)<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:right;\">22,604.3<\/td>\n<td style=\"\">&nbsp;<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Venture capital investments (quartile)<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:right;\">3rd<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC;\">GDP growth (per cent)<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:right;\">2.5<\/td>\n<td style=\"\">&nbsp;<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Private equity investments (quartile)<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:right;\">3rd<\/td>\n<\/tr>\n<\/table>\n<div style=\"line-height:36px;\">&nbsp;<\/div>\n<div style=\"line-height:18px;\">&nbsp;<\/div>\n<div style=\"border-top:1px solid #ddd; line-height:24px; width:100%;\">&nbsp;<\/div>\n<div style=\"font-size:20px; line-height:36px; text-align:center; width:100%;\">Performance Overview<\/div>\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"width:100%;\">\n<tr>\n<td style=\"color:#999; font-size:10px; line-height:60px; text-align:center; width:6%;\">Indicator<\/td>\n<td style=\"color:#999; font-size:10px; width:51.1%;\">&nbsp;<\/td>\n<td style=\"color:#999; font-size:10px; text-align:center; width:14.3%;\">Rank \/ 125<\/td>\n<td style=\"color:#999; font-size:10px; text-align:center; width:14.3%;\">Rank Trend<\/td>\n<td style=\"color:#999; font-size:10px; text-align:center; width:14.3%;\">Score<\/td>\n<\/tr>\n<tr>\n<td style=\"background-color:#f9f9f9; border-top:1px solid #E4E9EC; font-size:16px; font-weight:bold; line-height:60px; padding-left:10px;\" colspan=\"2\">VC\/PE Country Attractiveness Index<\/td>\n<td style=\"background-color:#f9f9f9; border-top:1px solid #E4E9EC; font-size:16px; font-weight:bold; text-align:center;\">49<\/td>\n<td style=\"background-color:#f9f9f9; border-top:1px solid #E4E9EC; font-size:16px; font-weight:bold; text-align:center;\"><span class=\"inlinesparkline\">73, 72, 74, 72, 76<\/span><\/td>\n<td style=\"background-color:#f9f9f9; border-top:1px solid #E4E9EC; font-size:16px; font-weight:bold; text-align:center;\">52.4<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span style=\"border:1px solid #999; border-radius:36px; display:inline-block; height:36px; line-height:36px; text-align:center; width:36px;\"><a href=\"javascript:toggle('kd1')\">1<\/a><\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; line-height:60px;\"><a href=\"javascript:toggle('kd1')\">Economic Activity<\/a><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">100<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span class=\"inlinesparkline\">30, 30, 37, 33, 25<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">62.2<\/td>\n<\/tr>\n<\/table>\n<div id=\"kd1\" style=\"display:none;\">\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"width: 100%;\">\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center; width:6%;\">1.1<\/td>\n<td style=\"border-top:1px solid #E4E9EC; width:51.1%;\">Size of the Economy (GDP)<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">95<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\"><span class=\"inlinesparkline\">31, 31, 34, 34, 30<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">27.5<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">1.2<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Expected Real GDP Growth<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">58<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span class=\"inlinesparkline\">105, 55, 84, 58, 67<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">103.2<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">1.3<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Unemployment<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">83<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span class=\"inlinesparkline\">30, 34, 43, 42, 42<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">84.9<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"width: 100%;\">\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:6%;\"><span style=\"border:1px solid #999; border-radius:36px; display:inline-block; height:36px; line-height:36px; text-align:center; width:36px;\"><a href=\"javascript:toggle('kd2')\">2<\/a><\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; line-height:60px; width:51.1%;\"><a href=\"javascript:toggle('kd2')\">Depth of Capital Market<\/a><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">51<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\"><span class=\"inlinesparkline\">53, 51, 54, 60, 74<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">39.7<\/td>\n<\/tr>\n<\/table>\n<div id=\"kd2\" style=\"display:none;\">\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"width: 100%;\">\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center; width:6%;\">2.1<\/td>\n<td style=\"border-top:1px solid #E4E9EC; width:51.1%;\">Size and Liquidity of the Stock Market<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">52<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\"><span class=\"inlinesparkline\">59, 61, 61, 71, 73<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">63.3<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">2.2<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Total Trading Volume<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">75<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span class=\"inlinesparkline\">49, 51, 50, 50, 50<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">57.2<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">2.3<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">IPOs and Public Issuing Activity<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">55<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span class=\"inlinesparkline\">72, 65, 63, 64, 70<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">3.7<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">2.4<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">M&#038;A Market<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">52<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span class=\"inlinesparkline\">73, 74, 75, 75, 73<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">46.0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">2.5<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Debt and Credit Market<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">90<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span class=\"inlinesparkline\">34, 43, 44, 44, 35<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">67.7<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">2.6<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Bank Non-Performing Loans<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">97<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span class=\"inlinesparkline\">5, 6, 10, 27, 28<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">94.5<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"width: 100%;\">\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:6%;\"><span style=\"border:1px solid #999; border-radius:36px; display:inline-block; height:36px; line-height:36px; text-align:center; width:36px;\"><a href=\"javascript:toggle('kd3')\">3<\/a><\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; line-height:60px; width:51.1%;\"><a href=\"javascript:toggle('kd3')\">Taxation<\/a><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">7<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\"><span class=\"inlinesparkline\">99, 101, 116, 117, 118<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">115.9<\/td>\n<\/tr>\n<\/table>\n<div id=\"kd3\" style=\"display:none;\">\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"width: 100%;\">\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center; width:6%;\">3.1<\/td>\n<td style=\"border-top:1px solid #E4E9EC; width:51.1%;\">Tax Incentives and Administrative Burden<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">7<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\"><span class=\"inlinesparkline\">99, 101, 116, 117, 118<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">115.9<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"width: 100%;\">\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:6%;\"><span style=\"border:1px solid #999; border-radius:36px; display:inline-block; height:36px; line-height:36px; text-align:center; width:36px;\"><a href=\"javascript:toggle('kd4')\">4<\/a><\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; line-height:60px; width:51.1%;\"><a href=\"javascript:toggle('kd4')\">Investor Protection and Corporate Governance<\/a><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">32<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\"><span class=\"inlinesparkline\">97, 96, 94, 93, 93<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">82.2<\/td>\n<\/tr>\n<\/table>\n<div id=\"kd4\" style=\"display:none;\">\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"width: 100%;\">\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center; width:6%;\">4.1<\/td>\n<td style=\"border-top:1px solid #E4E9EC; width:51.1%;\">Quality of Corporate Governance<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">35<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\"><span class=\"inlinesparkline\">93, 92, 90, 90, 90<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">88.5<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">4.2<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Security of Property Rights<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">48<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span class=\"inlinesparkline\">75, 78, 78, 77, 77<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">71.0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">4.3<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Quality of Legal Enforcement<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">27<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span class=\"inlinesparkline\">104, 102, 98, 98, 98<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">88.2<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"width: 100%;\">\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:6%;\"><span style=\"border:1px solid #999; border-radius:36px; display:inline-block; height:36px; line-height:36px; text-align:center; width:36px;\"><a href=\"javascript:toggle('kd5')\">5<\/a><\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; line-height:60px; width:51.1%;\"><a href=\"javascript:toggle('kd5')\">Human and Social Environment<\/a><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">39<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\"><span class=\"inlinesparkline\">89, 88, 87, 87, 86<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">38.3<\/td>\n<\/tr>\n<\/table>\n<div id=\"kd5\" style=\"display:none;\">\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"width: 100%;\">\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center; width:6%;\">5.1<\/td>\n<td style=\"border-top:1px solid #E4E9EC; width:51.1%;\">Education and Human Capital<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">53<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\"><span class=\"inlinesparkline\">77, 72, 72, 72, 72<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">10.2<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">5.2<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Labor Regulations<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">32<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\"><span class=\"inlinesparkline\">96, 93, 93, 93, 93<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">74.9<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">5.3<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Bribing and Corruption<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">41<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\"><span class=\"inlinesparkline\">91, 88, 85, 83, 84<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">73.6<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"width: 100%;\">\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:6%;\"><span style=\"border:1px solid #999; border-radius:36px; display:inline-block; height:36px; line-height:36px; text-align:center; width:36px;\"><a href=\"javascript:toggle('kd6')\">6<\/a><\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; line-height:60px; width:51.1%;\"><a href=\"javascript:toggle('kd6')\">Entrepreneurial Opportunities<\/a><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">54<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\"><span class=\"inlinesparkline\">70, 70, 70, 70, 71<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">51.9<\/td>\n<\/tr>\n<\/table>\n<div id=\"kd6\" style=\"display:none;\">\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"width: 100%;\">\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center; width:6%;\">6.1<\/td>\n<td style=\"border-top:1px solid #E4E9EC; width:51.1%;\">Innovation<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">27<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\"><span class=\"inlinesparkline\">95, 97, 97, 97, 98<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">68.8<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">6.2<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Scientific and Technical Journal Articles<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">70<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span class=\"inlinesparkline\">54, 53, 53, 54, 55<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">44.8<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">6.3<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Burdens of Starting and Running a Business<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">45<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span class=\"inlinesparkline\">80, 77, 80, 80, 80<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">101.3<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">6.4<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Simplicity of Closing a Business<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">27<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span class=\"inlinesparkline\">100, 100, 98, 98, 98<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">90.8<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; line-height:36px; text-align:center;\">6.5<\/td>\n<td style=\"border-top:1px solid #E4E9EC;\">Corporate R&#038;D<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">100<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\"><span class=\"inlinesparkline\">24, 33, 25, 25, 25<\/span><\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">13.3<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p><script type=\"text\/javascript\">\nfunction toggle(element) {\ndocument.getElementById(element).style.display = (document.getElementById(element).style.display == \"none\") ? \"\" : \"none\";\n}\n<\/script><br \/>\n<script type=\"text\/javascript\">\n$(function() { $('.inlinesparkline').sparkline('html', {type: 'line', disableHiddenCheck: true, lineColor: '#ff0000', fillColor: false, spotColor: '#ff0000', minSpotColor: false, maxSpotColor: false, highlightSpotColor: false, highlightLineColor: false, disableTooltips: true, height: '10', width: '36', drawNormalOnTop: false }); });\n<\/script><\/p>\n<div style=\"line-height:18px;\">&nbsp;<\/div>\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"line-height:30px; width:100%;\">\n<tr>\n<td style=\"color:#999; font-size:10px; width:47%;\">Historic performance, 2019-2023<\/td>\n<td style=\"width:6%;\">&nbsp;<\/td>\n<td style=\"color:#999; font-size:10px; width:47%;\">Key driver performance, 2023<\/td>\n<\/tr>\n<\/table>\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"\">\n<tr>\n<td style=\"width:6px;\">&nbsp;<\/td>\n<td style=\"\">\n<script src=\"https:\/\/cdn.jsdelivr.net\/npm\/chart.js\"><\/script><br \/>\n<canvas id=\"myChart1\" width=\"400\" height=\"360\"><\/canvas><br \/>\n<script>\nvar ctx1 = document.getElementById('myChart1');\nvar myChart1 = new Chart(ctx1, {\ntype: 'line',\ndata: {\nlabels: ['2019', '2020', '2021', '2022', '2023'],\ndatasets: [{\nlabel: 'VC\/PE Rank',\ndata: [52, 53, 51, 53, 49],\nfill: false,\nbackgroundColor: 'rgba(255, 0, 0, 0.2)',\nborderColor: '#ff0000',\npointBackgroundColor: '#ff0000',\nborderWidth: 3\n}, {\nlabel: 'VC Rank',\ndata: [51, 51, 52, 51, 48],\nfill: false,\nbackgroundColor: 'rgba(102, 102, 102, 0.2)',\nborderColor: '#666666',\npointBackgroundColor: '#666666',\nborderWidth: 3\n}, {\nlabel: 'PE Rank',\ndata: [65, 64, 61, 61, 54],\nfill: false,\nbackgroundColor: 'rgba(153, 153, 153, 0.2)',\nborderColor: '#bbbbbb',\npointBackgroundColor: '#bbbbbb',\nborderWidth: 3\n}]\n},\noptions: {\nscales: { y: { min: 40, max: 80, ticks: { stepSize: 10 }, reverse: true }},\nplugins: { legend: { display: false }}\n}\n});\n<\/script>\n<\/td>\n<td style=\"width:30px;\">&nbsp;<\/td>\n<td style=\"border-right:1px solid #999;\"><\/td>\n<td style=\"width:30px;\">&nbsp;<\/td>\n<td style=\"\">\n<canvas id=\"myChart2\" width=\"400\" height=\"400\"><\/canvas><br \/>\n<script>\nvar ctx2 = document.getElementById('myChart2');\nvar myChart2 = new Chart(ctx2, {\ntype: 'radar',\ndata: {\nlabels: ['1. Economic Activity', [['2. Depth of'], ['Capital Market ']], '3. Taxation', [['4. Investor Protection and'], ['Corporate Governance']], [['5. Human and Social'], ['Environment']], [['6. Entrepreneurial'], ['Opportunities']]],\ndatasets: [{\nlabel: 'Cyprus',\ndata: [62.2, 39.7, 115.9, 82.2, 38.3, 51.9],\nfill: true,\nbackgroundColor: 'rgba(255, 0, 0, 0.2)',\nborderColor: '#ff0000',\npointBackgroundColor: '#ff0000',\nborderWidth: 3\n}, {\nlabel: 'Western Europe',\ndata: [77.6, 65.4, 95.0, 90.5, 58.0, 78.4],\nfill: true,\nbackgroundColor: 'rgba(102, 102, 102, 0.2)',\nborderColor: '#666666',\npointBackgroundColor: '#666666',\nborderWidth: 3 }]},\noptions: {\nscale: { min: 0, max: 125, stepSize: 25 },\nplugins: { legend: { display: false }}\n}\n});\n<\/script>\n<\/td>\n<\/tr>\n<\/table>\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"line-height:36px; width:100%;\">\n<tr>\n<td style=\"width:47%;\">\n<table align=\"center\" border=\"0\" cellpadding=\"0\" cellspacing=\"0\">\n<tr>\n<td style=\"width:20px;\">\n<div style=\"background-color:#ff0000; height:4px; width:15px;\"><\/div>\n<\/td>\n<td>VC\/PE Rank<\/td>\n<td style=\"width:20px;\">&nbsp;<\/td>\n<td style=\"width:20px;\">\n<div style=\"background-color:#666; height:4px; width:15px;\"><\/div>\n<\/td>\n<td>VC Rank<\/td>\n<td style=\"width:20px;\">&nbsp;<\/td>\n<td style=\"width:20px;\">\n<div style=\"background-color:#999; height:4px; width:15px;\"><\/div>\n<\/td>\n<td>PE Rank<\/td>\n<\/tr>\n<\/table>\n<\/td>\n<td style=\"width:6%;\"><\/td>\n<td style=\"width:47%;\">\n<table align=\"center\" border=\"0\" cellpadding=\"0\" cellspacing=\"0\">\n<tr>\n<td style=\"width:20px;\">\n<div style=\"background-color:#ff0000; height:4px; width:15px;\"><\/div>\n<\/td>\n<td>Cyprus<\/td>\n<td style=\"width:20px;\">&nbsp;<\/td>\n<td style=\"width:20px;\">\n<div style=\"background-color:#666; height:4px; width:15px;\"><\/div>\n<\/td>\n<td>Western Europe<\/td>\n<\/tr>\n<\/table>\n<\/td>\n<\/tr>\n<\/table>\n<div style=\"line-height:36px;\">&nbsp;<\/div>\n<div style=\"line-height:18px;\">&nbsp;<\/div>\n<div style=\"border-top:1px solid #ddd; line-height:24px; width:100%;\">&nbsp;<\/div>\n<div style=\"font-size:20px; line-height:36px; text-align:center; width:100%;\">Peer Group Comparison<\/div>\n<div style=\"line-height:18px;\">&nbsp;<\/div>\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"height:60px; width:100%;\">\n<tr>\n<td style=\"color:#999; padding-left:10px; font-size:10px; width:14.3%;\">Regional Peers<\/td>\n<td style=\"color:#999; font-size:10px; text-align:center; width:14.3%;\">Economic Activity<\/td>\n<td style=\"color:#999; font-size:10px; text-align:center; width:14.3%;\">Depth of Capital Market<\/td>\n<td style=\"color:#999; font-size:10px; text-align:center; width:14.3%;\">Taxation<\/td>\n<td style=\"color:#999; font-size:10px; text-align:center; width:14.3%;\">Investor Protection and<br \/>Corporate Governance<\/td>\n<td style=\"color:#999; font-size:10px; text-align:center; width:14.3%;\">Human and Social<br \/>Environment<\/td>\n<td style=\"color:#999; font-size:10px; text-align:center; width:14.3%;\">Entrepreneurial<br \/>Opportunites<\/td>\n<\/tr>\n<\/table>\n<table border=\"0\" cellpadding=\"0\" cellspacing=\"0\" style=\"width:100%;\">\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; padding-left:10px; width:14.3%;\"><a href=\"http:\/\/blog.iese.edu\/vcpeindex\/austria\/\">Austria<\/a><\/td>\n<td style=\"border-top:1px solid #E4E9EC; line-height:60px; text-align:center; width:14.3%;\">78.8<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">36.7<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">90.2<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">95.8<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">49.8<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center; width:14.3%;\">82.0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; padding-left:10px;\"><a href=\"http:\/\/blog.iese.edu\/vcpeindex\/portugal\/\">Portugal<\/a><\/td>\n<td style=\"border-top:1px solid #E4E9EC; line-height:60px; text-align:center;\">76.1<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">44.7<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">99.2<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">74.0<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">41.0<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">69.0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; padding-left:10px;\"><a href=\"http:\/\/blog.iese.edu\/vcpeindex\/greece\/\">Greece<\/a><\/td>\n<td style=\"border-top:1px solid #E4E9EC; line-height:60px; text-align:center;\">66.1<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">45.9<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">98.1<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">61.2<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">38.9<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">59.9<\/td>\n<\/tr>\n<tr>\n<td style=\"background-color:#f9f9f9; border-top:1px solid #E4E9EC; padding-left:10px;\"><a href=\"http:\/\/blog.iese.edu\/vcpeindex\/cyprus\/\"><span style=\"font-size:16px; font-weight:bold;\">Cyprus<\/span><\/a><\/td>\n<td style=\"background-color:#f9f9f9; border-top:1px solid #E4E9EC; line-height:60px; text-align:center;\"><span style=\"font-size:16px; font-weight:bold;\">62.2<\/span><\/td>\n<td style=\"background-color:#f9f9f9; border-top:1px solid #E4E9EC; text-align:center;\"><span style=\"font-size:16px; font-weight:bold;\">39.7<\/span><\/td>\n<td style=\"background-color:#f9f9f9; border-top:1px solid #E4E9EC; text-align:center;\"><span style=\"font-size:16px; font-weight:bold;\">115.9<\/span><\/td>\n<td style=\"background-color:#f9f9f9; border-top:1px solid #E4E9EC; text-align:center;\"><span style=\"font-size:16px; font-weight:bold;\">82.2<\/span><\/td>\n<td style=\"background-color:#f9f9f9; border-top:1px solid #E4E9EC; text-align:center;\"><span style=\"font-size:16px; font-weight:bold;\">38.3<\/span><\/td>\n<td style=\"background-color:#f9f9f9; border-top:1px solid #E4E9EC; text-align:center;\"><span style=\"font-size:16px; font-weight:bold;\">51.9<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; padding-left:10px;\"><a href=\"http:\/\/blog.iese.edu\/vcpeindex\/luxembourg\/\">Luxembourg<\/a><\/td>\n<td style=\"border-top:1px solid #E4E9EC; line-height:60px; text-align:center;\">71.2<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">27.9<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">88.0<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">87.0<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">44.7<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">64.5<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; padding-left:10px;\"><a href=\"http:\/\/blog.iese.edu\/vcpeindex\/iceland\/\">Iceland<\/a><\/td>\n<td style=\"border-top:1px solid #E4E9EC; line-height:60px; text-align:center;\">63.4<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">20.7<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">99.0<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">99.3<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">48.1<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">67.2<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top:1px solid #E4E9EC; padding-left:10px;\"><a href=\"http:\/\/blog.iese.edu\/vcpeindex\/malta\/\">Malta<\/a><\/td>\n<td style=\"border-top:1px solid #E4E9EC; line-height:60px; text-align:center;\">62.5<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">39.5<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">29.6<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">76.4<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">36.7<\/td>\n<td style=\"border-top:1px solid #E4E9EC; text-align:center;\">49.9<\/td>\n<\/tr>\n<\/table>\n<div style=\"color:#999; font-size:10px; line-height:36px; margin-top:6px;\">Last updated: 4 Nov 2023<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Cyprus &nbsp; Rank: 49 &middot; Score: 52.4 &nbsp; Basic facts &nbsp; &nbsp; &nbsp; &nbsp; Population (millions) 1.3 &nbsp; IPOs and pulic issues (quartile) 3rd GDP (US$ billions) 28.3 &nbsp; M&amp;A volume (quartile) 3rd GDP per capita (US$) 22,604.3 &nbsp; Venture capital investments (quartile) 3rd GDP growth (per cent) 2.5 &nbsp; Private equity investments (quartile) 3rd [&hellip;]<\/p>\n","protected":false},"author":928,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"open","template":"page_with_heading.php","meta":{"footnotes":""},"class_list":["post-3909","page","type-page","status-publish","hentry"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/blog.iese.edu\/vcpeindex\/wp-json\/wp\/v2\/pages\/3909","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.iese.edu\/vcpeindex\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/blog.iese.edu\/vcpeindex\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/blog.iese.edu\/vcpeindex\/wp-json\/wp\/v2\/users\/928"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.iese.edu\/vcpeindex\/wp-json\/wp\/v2\/comments?post=3909"}],"version-history":[{"count":19,"href":"https:\/\/blog.iese.edu\/vcpeindex\/wp-json\/wp\/v2\/pages\/3909\/revisions"}],"predecessor-version":[{"id":9476,"href":"https:\/\/blog.iese.edu\/vcpeindex\/wp-json\/wp\/v2\/pages\/3909\/revisions\/9476"}],"wp:attachment":[{"href":"https:\/\/blog.iese.edu\/vcpeindex\/wp-json\/wp\/v2\/media?parent=3909"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}