Investment freedom - Country rankings

* indicates monthly or quarterly data series

Investment freedom index (0-100), 2023:

The average for 2023 based on 175 countries was 57 points. The highest value was in Luxembourg: 95 points and the lowest value was in Eritrea: 0 points. The indicator is available from 1995 to 2024. Below is a chart for all countries where data are available.

Measure: points; Source: The Heritage Foundation
Select indicator
* indicates monthly or quarterly data series


Countries Investment freedom, 2023 Global rank Available data
Luxembourg 95 1 1996 - 2024
Denmark 90 2 1996 - 2024
Estonia 90 3 1995 - 2024
Ireland 90 4 1995 - 2024
Netherlands 90 5 1996 - 2024
Bahrain 85 6 1995 - 2024
Belgium 85 7 1996 - 2024
Finland 85 8 1996 - 2024
Latvia 85 9 1996 - 2024
Singapore 85 10 1995 - 2024
Spain 85 11 1995 - 2024
Sweden 85 12 1995 - 2024
Switzerland 85 13 1996 - 2024
USA 85 14 1995 - 2024
Australia 80 15 1995 - 2024
Austria 80 16 1995 - 2024
Canada 80 17 1995 - 2024
Cape Verde 80 18 1996 - 2024
Colombia 80 19 1995 - 2024
Georgia 80 20 1996 - 2024
Germany 80 21 1995 - 2024
Hungary 80 22 1995 - 2024
Iceland 80 23 1997 - 2024
Israel 80 24 1995 - 2024
Italy 80 25 1995 - 2024
Liechtenstein 80 26 2014 - 2024
Mauritius 80 27 1999 - 2024
Poland 80 28 1995 - 2024
UK 80 29 1995 - 2024
Armenia 75 30 1996 - 2024
Croatia 75 31 1996 - 2024
Cyprus 75 32 1996 - 2024
France 75 33 1995 - 2024
Ivory Coast 75 34 1995 - 2024
Mexico 75 35 1995 - 2024
Montenegro 75 36 2002 - 2024
Norway 75 37 1996 - 2024
Panama 75 38 1995 - 2024
Paraguay 75 39 1995 - 2024
Peru 75 40 1995 - 2024
Slovakia 75 41 1995 - 2024
Albania 70 42 1995 - 2024
Azerbaijan 70 43 1996 - 2024
Chile 70 44 1995 - 2024
Costa Rica 70 45 1995 - 2024
Czechia 70 46 1995 - 2024
Dominica 70 47 2009 - 2024
Domin. Rep. 70 48 1995 - 2024
Ghana 70 49 1995 - 2024
Guatemala 70 50 1995 - 2024
Jamaica 70 51 1995 - 2024
Jordan 70 52 1995 - 2024
Lithuania 70 53 1996 - 2024
Malta 70 54 1995 - 2024
New Zealand 70 55 1996 - 2024
Portugal 70 56 1995 - 2024
Romania 70 57 1995 - 2024
St. Vincent & ... 70 58 2009 - 2024
Serbia 70 59 2002 - 2024
Slovenia 70 60 1996 - 2024
Taiwan 70 61 1995 - 2024
Turkey 70 62 1995 - 2024
Uruguay 70 63 1995 - 2024
Bosnia & Herz. 65 64 1998 - 2024
Botswana 65 65 1995 - 2024
Brunei 65 66 2014 - 2024
Burkina Faso 65 67 1996 - 2024
Egypt 65 68 1995 - 2024
Gambia 65 69 1997 - 2024
Honduras 65 70 1995 - 2024
Mali 65 71 1995 - 2024
Morocco 65 72 1995 - 2024
Namibia 65 73 1997 - 2024
North Macedonia 65 74 2002 - 2024
Oman 65 75 1995 - 2024
Saint Lucia 65 76 2009 - 2024
Vanuatu 65 77 2009 - 2024
Barbados 60 78 1996 - 2024
Brazil 60 79 1995 - 2024
Bulgaria 60 80 1995 - 2024
Chad 60 81 1997 - 2024
Djibouti 60 82 1997 - 2024
El Salvador 60 83 1995 - 2024
Gabon 60 84 1995 - 2024
Japan 60 85 1995 - 2024
Kyrgyzstan 60 86 1998 - 2024
Malaysia 60 87 1995 - 2024
Nicaragua 60 88 1995 - 2024
Pakistan 60 89 1995 - 2024
Philippines 60 90 1995 - 2024
Qatar 60 91 1999 - 2024
Rwanda 60 92 1997 - 2024
S.T.&Principe 60 93 2009 - 2024
Senegal 60 94 1996 - 2024
Sierra Leone 60 95 1995 - 2024
South Korea 60 96 1995 - 2024
Togo 60 97 1999 - 2024
Tr.&Tobago 60 98 1996 - 2024
Uzbekistan 60 99 1998 - 2024
Argentina 55 100 1995 - 2024
Belize 55 101 1995 - 2024
Fiji 55 102 1995 - 2024
Greece 55 103 1995 - 2024
Guyana 55 104 1995 - 2024
Kenya 55 105 1995 - 2024
Kuwait 55 106 1996 - 2024
Lesotho 55 107 1996 - 2024
Liberia 55 108 2009 - 2024
Madagascar 55 109 1995 - 2024
Moldova 55 110 1995 - 2024
Niger 55 111 1996 - 2024
Seychelles 55 112 2009 - 2024
Tanzania 55 113 1995 - 2024
Thailand 55 114 1995 - 2024
Uganda 55 115 1995 - 2024
Zambia 55 116 1995 - 2024
Bahamas 50 117 1995 - 2024
Bangladesh 50 118 1995 - 2024
Benin 50 119 1996 - 2024
Burundi 50 120 1997 - 2024
Cambodia 50 121 1997 - 2024
Guinea 50 122 1995 - 2024
Indonesia 50 123 1995 - 2024
Kazakhstan 50 124 1998 - 2024
Malawi 50 125 1995 - 2024
Mauritania 50 126 1996 - 2024
Mongolia 50 127 1995 - 2024
Samoa 50 128 1996 - 2024
Saudi Arabia 50 129 1996 - 2024
Swaziland 50 130 1995 - 2024
UA Emirates 50 131 1996 - 2024
C.A. Republic 45 132 2002 - 2024
Comoros 45 133 2009 - 2024
Nigeria 45 134 1995 - 2024
South Africa 45 135 1995 - 2024
Eq. Guinea 40 136 1999 - 2024
India 40 137 1995 - 2024
Suriname 40 138 1996 - 2024
Tonga 40 139 2009 - 2024
Tunisia 40 140 1995 - 2024
Vietnam 40 141 1995 - 2024
Ecuador 35 142 1995 - 2024
Laos 35 143 1996 - 2024
Maldives 35 144 2009 - 2024
Micronesia 35 145 2009 - 2024
Mozambique 35 146 1995 - 2024
R. of Congo 35 147 1996 - 2024
Algeria 30 148 1995 - 2024
Angola 30 149 1995 - 2024
Belarus 30 150 1995 - 2024
Burma 30 151 1996 - 2024
Cameroon 30 152 1995 - 2024
DR Congo 30 153 1995 - 2024
Ethiopia 30 154 1995 - 2024
G.-Bissau 30 155 1999 - 2024
Haiti 30 156 1995 - 2024
Lebanon 30 157 1996 - 2024
Russia 30 158 1995 - 2024
Sri Lanka 30 159 1995 - 2024
Kiribati 25 160 2009 - 2024
Papua N.G. 25 161 1996 - 2024
Tajikistan 25 162 1998 - 2024
Zimbabwe 25 163 1995 - 2024
Bhutan 20 164 2009 - 2024
China 20 165 1995 - 2024
Bolivia 15 166 1995 - 2024
Solomon Isl. 15 167 2009 - 2024
Cuba 10 168 1995 - 2024
Nepal 10 169 1996 - 2024
Turkmenistan 10 170 1998 - 2024
Iran 5 171 1996 - 2024
Sudan 5 172 1995 - 2024
Eritrea 0 173 2009 - 2024
North Korea 0 174 1995 - 2024
Venezuela 0 175 1995 - 2024



Definition: The Investment freedom index evaluates a variety of investment restrictions (burdensome bureaucracy, restrictions on land ownership, expropriation of investments without fair compensation, foreign exchange controls, capital control, security problems, a lack of basic investment infrastructure, etc.). Points are deducted from the ideal score of 100 for each of the restrictions found in a country’s investment regime.

Selected articles from our guide:

The unholy trinity of international finance

Most commonly used measures of corruption

All articles

1. Luxembourg
2. Denmark
3. Estonia
4. Ireland
5. Netherlands
6. Bahrain
7. Belgium
8. Finland
9. Latvia
10. Singapore
11. Spain
12. Sweden
13. Switzerland
14. USA
15. Australia
16. Austria
17. Canada
18. Cape Verde
19. Colombia
20. Georgia
21. Germany
22. Hungary
23. Iceland
24. Israel
25. Italy
26. Liechtenstein
27. Mauritius
28. Poland
29. UK
30. Armenia
31. Croatia
32. Cyprus
33. France
34. Ivory Coast
35. Mexico
36. Montenegro
37. Norway
38. Panama
39. Paraguay
40. Peru
41. Slovakia
42. Albania
43. Azerbaijan
44. Chile
45. Costa Rica
46. Czechia
47. Dominica
48. Domin. Rep.
49. Ghana
50. Guatemala
51. Jamaica
52. Jordan
53. Lithuania
54. Malta
55. New Zealand
56. Portugal
57. Romania
58. St. Vincent & ...
59. Serbia
60. Slovenia
61. Taiwan
62. Turkey
63. Uruguay
64. Bosnia & Herz.
65. Botswana
66. Brunei
67. Burkina Faso
68. Egypt
69. Gambia
70. Honduras
71. Mali
72. Morocco
73. Namibia
74. North Macedonia
75. Oman
76. Saint Lucia
77. Vanuatu
78. Barbados
79. Brazil
80. Bulgaria
81. Chad
82. Djibouti
83. El Salvador
84. Gabon
85. Japan
86. Kyrgyzstan
87. Malaysia
88. Nicaragua
89. Pakistan
90. Philippines
91. Qatar
92. Rwanda
93. S.T.&Principe
94. Senegal
95. Sierra Leone
96. South Korea
97. Togo
98. Tr.&Tobago
99. Uzbekistan
100. Argentina
101. Belize
102. Fiji
103. Greece
104. Guyana
105. Kenya
106. Kuwait
107. Lesotho
108. Liberia
109. Madagascar
110. Moldova
111. Niger
112. Seychelles
113. Tanzania
114. Thailand
115. Uganda
116. Zambia
117. Bahamas
118. Bangladesh
119. Benin
120. Burundi
121. Cambodia
122. Guinea
123. Indonesia
124. Kazakhstan
125. Malawi
126. Mauritania
127. Mongolia
128. Samoa
129. Saudi Arabia
130. Swaziland
131. UA Emirates
132. C.A. Republic
133. Comoros
134. Nigeria
135. South Africa
136. Eq. Guinea
137. India
138. Suriname
139. Tonga
140. Tunisia
141. Vietnam
142. Ecuador
143. Laos
144. Maldives
145. Micronesia
146. Mozambique
147. R. of Congo
148. Algeria
149. Angola
150. Belarus
151. Burma
152. Cameroon
153. DR Congo
154. Ethiopia
155. G.-Bissau
156. Haiti
157. Lebanon
158. Russia
159. Sri Lanka
160. Kiribati
161. Papua N.G.
162. Tajikistan
163. Zimbabwe
164. Bhutan
165. China
166. Bolivia
167. Solomon Isl.
168. Cuba
169. Nepal
170. Turkmenistan
171. Iran
172. Sudan
173. Eritrea
174. North Korea
175. Venezuela
95
90
90
90
90
85
85
85
85
85
85
85
85
85
80
80
80
80
80
80
80
80
80
80
80
80
80
80
80
75
75
75
75
75
75
75
75
75
75
75
75
70
70
70
70
70
70
70
70
70
70
70
70
70
70
70
70
70
70
70
70
70
70
65
65
65
65
65
65
65
65
65
65
65
65
65
65
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
60
55
55
55
55
55
55
55
55
55
55
55
55
55
55
55
55
55
50
50
50
50
50
50
50
50
50
50
50
50
50
50
50
45
45
45
45
40
40
40
40
40
40
35
35
35
35
35
35
30
30
30
30
30
30
30
30
30
30
30
30
25
25
25
25
20
20
15
15
10
10
10
5
5
0
0
0
0
23.8
47.5
71.3
95


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