European Chamber: Albania Among the Worst in Europe for Business

The European Chamber (EuCham) ranked Albania among the five worst countries in Europe for business in its “Best European Countries for Business 2019” report.

Albania ranked 42nd out of 46 countries included in the research. It scored 53 points on a 100 point scale, equal to Russia’s score. Only Azerbaijan (52), Bosnia and Herzegovina (51) and Ukraine (50) ranked below Albania.

The European Chamber ranks European countries based on their business environment.  The EuCham score results from the average of the World Bank’s Ease of Doing Business score and Transparency International’s Corruption Perception Index. The EuCham score is the weighted average of the EoDB and the CPI scores (50% weight each). A low score indicates that the country is less favorable for business, that there is widespread bribery, lack of punishment for corruption, or that the government not responding to social needs.

The EuCham ranking for Albania has been worsening annually: Albania ranked 40th in 2018, and 38th in 2017.

The Forbes also ranked Albania among the five worst countries in Europe for its business climate and hospitality for capital investment. Albania was able to leave behind only few former Soviet Union Republics (Ukraine, Moldova, and Belarus) and Bosnia and Herzegovina. The Forbes’ “Best Countries for Business” rates 161 nations on 15 different factors including property rights, innovation, taxes, technology, corruption, freedom, red tape and investor protection.