Georgia Improves International Business Rating

The European Chamber (EuCham) has released a list of the best European countries for business. 46 nations were considered in the analysis. In the 2017 list, Georgia improved its position and is now ranked the 17th with a 68.6.

Georgia’s score makes it a leading country among its neighbors in doing business. Armenia came in at 53.3 (54.6 last year) while Azerbaijan was rated at 49 (48.4 last year) and Turkey at 54 (55.6 last year).

Based on this study, Nordic countries rank best and are the nations where it is best to do business.

Given the variables taken into consideration, it is clear that the EuCham score addresses integrity and ethics when doing business, along with its natural financial objective and long-term sustainability goals.

Like last year, Denmark tops the ranking with a score of 88 this year, followed by Sweden, Finland, Norway and the United Kingdom.

Ukraine takes the last (46th) position on the list with a score of 46.5, while Russia is ranked 44th with a score of 51.1 (in 2016 it was in 42nd place with a score of 50).

The European Chamber ranks European countries based on their business environment. The ranking, named the EuCham Score, is reflected on a scale from 0 to 100, where 0 represents the lowest performance and 100 represents the best performance. It results from the average between the DTF (Distance to Frontier) index of World Bank and the CPI (Corruption Perception Index) of Transparency International, since business integrity and transparency play an important role. In particular, the higher the average between these two values, the more favorable the country's business environment is.

Thea Morrison