Economy, Finance and Trade

Although ‘mostly free’ for economic freedom and state finances have been improving, more corruption has been observed and its terrorism ranking has been deteriorating. Inflation is retreating, but economic growth is moderating, whilst energy import…

Gibraltar’s cooperation in tax matters has made the territory more transparent. Issues over the state’s sovereignty remain unresolved, which is a source of instability. Strength in financial services and the online gaming sector could support…

Although state finances are improving and political stability has returned, Greece continues to have an issue with corruption. Economic development is set to slow further, but inflation has also fallen markedly, but high unemployment remains a…

Iceland benefits from its low levels of corruption, political stability and economic freedom. The economy is set for a strong performance, leans heavily on sectors like tourism and fishing, alongside a stable currency and progressive tax incentives…

As one of the freest countries in the world, Ireland’s private sector enjoys considerable economic freedom, whilst state finances are solid. Robust economic momentum is giving way to a slowdown, as inflationary pressures persist, although exports…

Italy’s high public debt is a threat to stability and negatively affects economic freedom, but anti-corruption legislation has been reinforced. Economic growth is forecast to be subdued, as rising borrowing costs bite, and foreign investment is…

Liechtenstein showcases governmental stability, minimal corruption, and high economic freedom. Its robust financial sector and swift adaptation to remote work fuel its economy, potentially outpacing peers. However, an aging population may strain…

A lack of corruption, government stability, and high levels of economic freedom characterise Luxembourg. Strength in financial services and adaption to remote working has served the economy well, which could outperform peers going forward.…

Malta is mostly free, helping businesses to flourish, but corruption is relatively widespread compared to regional peers. Foreign investors flock to the island, eager to participate in the financial services sector, but dependence on tourism and…

Although Monaco enjoys political stability, questions remain over transparency in financial services. Given that tourism is a significant revenue earner, Monaco’s economy experienced a severe recession stemming from the Coronavirus (COVID-19)…

Norway enjoys considerable economic freedom and adheres strongly to the rule of law, whilst state finances are in rude health. Output development is slowing, owing to challenges for the global economy, but inflation is under control and exports have…

Corruption amongst high-ranking state officials has heightened political instability in Portugal, whilst public debt remains elevated. Economic momentum is slowing, but inflation has fallen markedly and technological prowess is supporting foreign…

Spain is suffering from a bout of political instability and economic freedom has worsened. Although economic development is slowing down, it continues to attract foreign investors. However, high, albeit falling, inflation has taken its toll on…

Although the political scene is facing instability, Sweden will soon join NATO, whilst its state finances remain sustainable. A slowing economy has been hampered by elevated food and energy prices, but inflation is falling and infrastructure upgrades…

Switzerland is one of the world’s most democratic countries, with extensive economic freedom and strong state finances. Although inflation is under control, economic growth is set to slow further. Consumer market appeal continues to be supported by…

Although the tax burden is increasing, the Netherlands continues to enjoy significant economic freedom and solid state finances. High prices have negatively impacted economic momentum, but inflation is falling and unemployment is low. The quality of…

The United Kingdom’s (UK) political landscape has been volatile, whilst Brexit continues to weigh on economic freedom. Owing to high inflation that has eroded consumer purchasing power and business investment, economic output is set to slow markedly,…

Turkey is facing rising authoritarianism, along with the undermining of its secular society and democracy. Earthquakes in early 2023 are to negatively affect economic development considerably and increase state spending, whilst they have also clouded…

Increased economic uncertainty, digitisation of business activities, the need to improve operational efficiency, and stricter regulations encourage companies to review their supply networks and fortify them against the potential risks in the future.…

The Coronavirus (COVID-19) pandemic has slowed down economic growth and has triggered significant interruption to urban economic growth, raising unemployment, reducing consumer spending and cutting local government finances. Cities are the engines of…