Sunday, January 31, 2021

Attractiveness Of Doing Business In Greece (rankings)

My last post discussed Greece's improvement over the last 10 years as regards perceived corruption (an improvement of about 30 spots in the ranking of about 180 countries). In that post I said:

"10 years ago when I had started this blog, one of my major arguments was as follows: Greece ranks the highest in the EU as regards perceived corruption and the lowest as regards attractiveness for doing business (which was the case then). If these tables could literally be turned (i. e. the lowest in perceived corruption and the highest in attractiveness for doing business), then Greece could well develop into the economic hotspot of the Eastern Mediterranean. How have these rankings developed?"

Below is the other important ranking, the World Bank's Doing Business Report for 2020. It measures about 190 countries in terms of their attractiveness for doing business. 

Here, too, Greece's ranking improved by roughly 30 spots. Depending on how one reads statistics, one could even argue by 40 spots. That would be the good news.

The not so good news is that Greece did not improve its position within the peer group (EU member countries). In fact, only the tiny Malta ranks behind Greece at position #84.

It is interesting to note that the significant improvement occurred during the years 2020-12, i. e. during the time when Greece was literally put through the wringer by its EU friends. 


  1. Very interesting stats, Klaus. And of course, your observation that it needed a gun put at their heads to fight corruption and establish a more business friendly environment is a bit sobering yet a very good argment against a 100% debt relief.
    Greetings from Zurich

  2. So 2015-8, the SYRIZA years, you say…
    With the high point being 2015, THE SYRIZA year!
    But I guess that's the wonderful thing with statistics: the perception of the beholder!