Luxembourg cannot be taken into account in the index, due to its particular situation as a financial centre.

The winners and losers 2018

In the middle and lower rankings this year, there have been somewhat greater changes, of up to 30 places. The greatest gainer this year has been Guyana, in South America, which has leapt up 27 places to No 92. This is due mostly to significant improvements in the politico-legal area, with respect to both the rule of law and political stability, as well as to investment freedom. A second South American country to make a giant leap forward is Argentina, which has improved by 26 places to No 98, thanks primarily to greatly increased ratings in the politico-legal framework conditions. The greatest winner among Asian countries is Myanmar, whose ranking has improved by 20 places. This is mainly attributable to a significant fall in unemployment and inflation. However, lying in place No 132, the country is still found amongst the lower rankings. Also moving up are Russia and Botswana, which were able to record double-digit gains this year, without, however, yet being able to break into the higher rankings.

Globally the greatest loser this year is Cape Verde, which has plummeted 30 places, reversing a very positive trend in the two previous years, due above all to a significant deterioration in the economic framework conditions. Liberia has also fallen strongly, as a result in this case of a higher national debt and a fall in direct investment inflows. The next greatest losers are Belize, Jamaica and Turkey. Whereas for Belize and Jamaica it is economic reasons that predominate, in the case of Turkey its position has fallen as a result above all of a critical assessment of its worsening politico-legal situation.

overall index 2018