The European Chamber, an independent non-governmental organisation, has ranked Estonia as the 12th best country in Europe to do business in.
The report, titled the “Best European Countries for Business 2018”, rates 46 countries based on the average of two indicators: the DTF score of Doing Business report by the World Bank and the Corruption Perception Index score by Transparency International. The score measures the overall business context constituted by corporate environment, legislation, government policies, social climate and conditions which enable or prevent the private sector activities from starting, operating and expanding, both in the short and in the long term.
The best country for doing business in Europe is Denmark, according to the report, followed by Norway, Finland, Sweden and the United Kingdom. Lithuania is ranked 17th, Latvia 20th and Russia 42nd.
Estonia was ranked 12th also in the 2017 report.
The European Chamber ranks the countries based on a score from 0 to 100, where 0 represents the lowest performance and 100 represents the best. Estonia’s 2018 score, according to the organisation, is 75.90 (up from 75.55 last year). In comparison, Denmark scored 86.03.
The European Chamber is an independent, non-governmental, privately-organised institution representing the interest of national and international companies doing business in Europe, improving the business environment they are active in.
Cover: Telliskivi Creative City in Tallinn (the image is illustrative).