Washington, DC (February 13, 2023) – The Milken Institute released its Global Opportunity Index (GOI), which explores the economic landscape of countries worldwide to help businesses make investment decisions and governments identify policies for attracting foreign capital. This year’s report focuses on Emerging Middle-Income (EMI) G20 countries to watch in 2023.
Two key dimensions of the GOI are strength in financial services and economic fundamentals. India and Indonesia lead in these categories with India home to the No. 9 and No. 10 stock markets in the world, and Indonesia investing heavily in workforce development.
These dimensions help monitor a nation’s efforts in creating sustainable economies in a resilient society, including the opportunity to monitor a country’s support of a diversified and qualified labor force, environmentally conscious business models, and good corporate governance.
While there are large scale countries within the G20, it is these EMI countries can set a global policy agenda that supports less developed economies while converging toward a greener and more inclusive global society.
New for 2023, the GOI rankings are available through an engaging website that allows users to pull information in various ways, including using an interactive heatmap.
“The GOI website provides an immersive experience by allowing users to customize their interaction with the rankings based on individual interests, such as regional competitiveness, stability of institutions, or investment risk,” said Maggie Switek, PhD, director at the Milken Institute and co-author of the report. “The interactive heatmap lets users compare how a country or region performs relative to its peers in areas such as economic fundamentals, institutional framework, or business perception. The map includes historical GOI data that allows for performance tracking of a country or region, starting in 2017.”
Sweden maintained its No. 1 ranking for the third consecutive year with a designation as the country with the most potential to attract foreign investment, followed by the United Kingdom at No. 2 and Denmark at No. 3. The United States ranks No. 5 on the index, compared to No. 9 last year.
To learn more and review the full rankings, visit the new interactive website here.
How the Global Opportunity Index Evaluates Countries:
To create the index, the Milken Institute evaluates 100 variables that influence foreign investment activities. They are organized into five categories and 14 sub-categories. The five major categories included: Business Perception, Financial Services, International Standards & Policy, Economic Fundamentals, and Institutional Frameworks. The variables within these categories measured all angles of a countries’ investment potential, including economic openness and performance, business constraints, and workforce talent and diversity. Data sources included the World Bank, the International Monetary Fund, the United Nations, the Bank for International Settlements, and the Global Health Data Exchange.
Download the full report here.
About the Milken Institute
The Milken Institute is a nonprofit, nonpartisan think tank focused on accelerating measurable progress on the path to a meaningful life. With a focus on financial, physical, mental, and environmental health, we bring together the best ideas and innovative resourcing to develop blueprints for tackling some of our most critical global issues through the lens of what’s pressing now and what’s coming next.
For more information, visit https://milkeninstitute.org/