Georgia’s reputation as an investment friendly country is becoming more apparent.
The country has been ranked among the top 25 percent of countries for having an investment friendly country by BDO in its latest International Business Compass 2015 ranking.
The country was given an international ranking of 43 of 174 countries.
The 2015 result saw Georgia improve its ranking by five places compared to 2014.
BDO, one of the world’s largest accountancy networks, ranked countries on their investment potential by comparing them over several categories using measurable factors relating to labour market performance. Countries were compared in three main areas: economic, political-legal and socio-cultural.
Georgia ranked top in the Caucasus region as having the most investment friendly nation, followed by Armenia, who was ranked in 66th position; a drop of seven places compared to 2014.
Meanwhile other countries in the region and further afar also saw an improvement year-on-year. Turkey improved its position by 10 points compared to 2014 and now ranked 57th, Azerbaijan advanced its ranking by 13 positions and took 65th place, while Ukraine jumped 20 positions to gain a ranking of 89. Russia gained a ranking of 100th position in 2015, which was five higher than it 2014 score.
Switzerland was deemed to be the most investment friendly country, followed by Singapore then Hong Kong. The bottom three ranked countries were Democratic Republic of the Congo, North Korea and Sudan.
The BDO Compass 2015 is released annually and updated with the latest available data, including global direct investment trends by country and by industry.
See the full report here.