TIRANA, Nov. 17 – Albania ranked 76th in the 2016 Global Entrepreneurship Index published by U.S.-based Global Entrepreneurship and Development Institute, failing to improve its position compared to the 2015 index and leaving behind only Bosnia and Herzegovina among regional competitors.
The index measuring the health of the entrepreneurship ecosystems in 132 countries shows Albania achieved an overall GEI score of 30 on a 0 to 100 point scale. Albania scored 56.1 on individual indicators capturing the characteristics of individuals in the entrepreneurship ecosystem and 47.9 in institutional indicators measuring the qualities of the social, political and economic institutions in the entrepreneurship ecosystem.
Risk acceptance, product innovation, process innovation, risk capital and opportunity startup are the worst pillar indicators for Albania’s new efforts for a 10 point improvement in the entrepreneurship score.
Meanwhile, startup skills, networking, high growth, internationalization and human capital are Albania’s best scoring pillars.
The report describes Albania as a country with a 2.9 million population and a GDP per capita in purchasing power parity of $10,405.
The report collects data on the entrepreneurial attitudes, abilities and aspirations of the local population and then weights these against the prevailing social and economic ‘infrastructure’ which includes aspects such as broadband connectivity and the transport links to external markets.
