Greece has fastest improving business environment, report finds

Greece has climbed 28 spots to the top of a list of 10 countries making the fastest progress in improving their business environment, according to an Economist Intelligence Unit report released on Wednesday.

The findings are based on a vector autoregression (VAR) model, which measured two decades’ worth of data to in 82 countries and territories predict which are “on the verge of notable economic growth,” and, therefore, “favorable destinations to direct future investment spending.” 

Plowing ahead of Argentina and India, which hold second and third place respectively, “Greece has witnessed the most significant improvement, showing the country’s pro-business government, which has implemented reforms, cut taxes and initiatives to enhance business confidence,” the report said. 

The VAR model used by the EIU “suggests that these improvements may result in an uptick in real GDP per capita growth, investment spending and foreign direct investment,” it said.

The last countries among the top 10 improvers were Lithuania and Serbia, while Singapore, Denmark and the United States top the chart, in that order, of the countries with the best business environment.