Greece seems to be the least attractive investment destination for starting a business among 14 European countries, as shown by a recent study ordered by the Economy Ministry of Austria in which 300 business executives participated.
The study disproves a widely accepted misconception about Greece, saying that the country is not the preferred place to start a business, largely due to the high working costs and imposed taxes. On the contrary, these two factors seem to be the least important reasons for not choosing Greece, with 24% and 23% respectively.
Participants took into consideration energy networks (74%), the well trained workforce (71%), the specialization of personnel (65%), communication and data networks, environmental regulations, education patterns and the funding of research.
Following this, the political and economic stability of a country is evaluated by the potential investors, while social justice and quality of life in the investment destination is proven to be of no importance to them.
In a rating scale from 1 to 4 Greece received a 3.7 as an investment destination. Germany takes the best grade with 1.4, followed by Sweden (1.5), Switzerland (1.8), the Netherlands (1.8) and Austria (1.9), who seems to possess a better ranking than countries widely believed to be more attractive for investors, such as Finland, Great Britain and France.
Economy Minister Reinhold Mitterlehner of the ruling Austrian People’s Party, expressed his content for the ranking of Austria, saying that his country has great potential for further improvement.
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