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EuCham - European Chamber - 2014-12 Best countries to do business in Europe

     


     
     
     



2014-12 Best countries to do business in Europe

EuCham - European Chamber conducts research on finding the most favourable country for conducting business in Europe, analyzing 45 European countries. Favorability to do business score was calculated by integrating “ease to do business” data from Doing Business (DB) of the World Bank with Corruption Perception Index (CPI) data from Transparency International. The European Chamber believes that an ethical economic environment constitutes an essential part for successfully operating business.

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EuCham Charts
December 2014

Best Countries to do business in Europe

1

Denmark

86%

2

Finland

83%

 

Norway

83%

4

Sweden

82%

5

Iceland

80%

 

United Kingdom

80%

...

   

45

Ukraine

51%


Favorability in doing business score in Europe calculated by using ease to do business data from World Bank, and Corruption Perception Index (CPI) from Transparency International.
45 European countries were considered

EuCham_Charts_Logo.jpg

 

  • Denmark is ranked as the top country in Europe for doing business achieving 86% of the ideal conditions to conduct business, followed by other Scandinavian countries, Iceland and UK
  • The research blends the ease to do business with corruption and unethical behaviour risks in Europe
  • The lowest ranked European country at #45 is Ukraine with only 51%

 

Source: eucham.eu/charts

 

Detailed Information

EuCham - European Chamber conducts research on finding the most favourable country for conducting business in Europe, analyzing 45 European countries. Favorability to do business score was calculated by integrating “ease to do business” data from Doing Business (DB) of the World Bank with Corruption Perception Index (CPI) data from Transparency International. The European Chamber believes that an ethical economic environment constitutes an essential part for successfully operating business.

According to EuCham ranking, Denmark has the most favourable conditions to do business with 86% of the ideal conditions, and also ranks 3rd most favourable country in the world following New Zealand and Singapore. The countries following at the top of the list are Norway, Finland, Sweden, Iceland and UK. At the bottom of the list there are countries with high corruption risks such as Russia, Kosovo, Azerbaijan and Ukraine.

In conclusion, EuCham is highlighting the importance of a clean and ethical economy to conduct business. In fact, a an easy environment for doing business might not be the best for ethical entrepreneurs if the country is also exposed to high risks of corruption. A correlation is evident between unfavourable business conditions and the risk of malpractices. However, further research may be conducted by including environmental and social data, thus identifying the ideal location for ethical businesses.

 

Methodology

The scores indicate the performance of each country in achieving ideal conditions to conduct business. The score is calculated by weighting DB and CPI scores respectively as 75% and 25% of the final value. 

 

Table 1: Best countries to do business in Europe

EuCham rank

Country

EuCham
score (%)

World Bank rank

Transparency International rank

1

Denmark

86.1

1

1

2

Finland

83.1

2

4

 

Norway

83.1

4

2

4

Sweden

81.9

6

3

5

Iceland

80.1

7

8

 

United Kingdom

80.1

3

10

7

Germany

79.8

5

9

8

Switzerland

78.7

13

5

9

Ireland

77.2

10

12

10

Netherlands

77.0

16

6

11

Estonia

76.2

9

14

12

Austria

75.8

11

13

13

Portugal

72.8

8

17

14

Georgia

72.7

14

25

15

Belgium

72.3

23

11

16

France

71.4

20

15

 

Lithuania

71.4

15

20

18

Latvia

71.2

12

22

19

Luxembourg

70.5

33

7

20

Poland

70.3

17

18

21

Spain

69.2

19

19

22

Slovenia

66.9

25

21

23

Slovakia

66.3

21

27

24

Macedonia

65.8

18

29

25

Cyprus

65.2

26

26

26

Czech Republic

65.1

34

16

27

Bulgaria

64.5

22

31

28

Hungary

63.6

24

35

29

Montenegro

63.5

32

24

30

Turkey

62.5

29

30

31

Romania

62.1

30

33

32

Italy

61.9

28

34

33

Armenia

61.2

27

38

34

Croatia

60.3

37

28

35

Malta

60.2

42

23

36

Greece

59.5

36

32

37

Belarus

58.1

31

42

38

Serbia

57.8

38

36

39

Moldova

55.9

40

39

40

Kosovo

55.5

35

44

 

Russia

55.5

39

41

42

Bosnia and Herzegovina

54.9

43

37

43

Azerbaijan

53.7

44

40

44

Albania

53.1

41

43

45

Ukraine

50.9

45

45

Sources: World Bank (2014), Transparency International (2014)
EuCham Research Department - Compiled by Luca Nazzicone and Kim Dung Tran 2014-12-17

 

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