Belgium scoops 16th place in KPMG growth potential rankings
Thursday, 25 January 2018
Belgium, as for last year, takes 16th place in the Growth Promise Indicators 2018 report produced by the consultant KPMG, which has studied the growth potential of 180 countries. The study results, published on Thursday, show Belgium’s score as 7.42/10, which translates as a “strong position” even if improvements to this ranking “are conceivable”. The Netherlands is leading the field, ahead of Switzerland and Luxembourg.
KPMG studied the countries on the basis of five indicators: economic stability, openness and willingness to reform, infrastructure quality, human capital and institutional integrity. Belgium achieves particularly good results as regards human development (8.02), as well as for both its willingness and capacity for reform (9.35). Having said that, it only achieves 2.92 for its economic stability, mainly owing to the overall value of its national debt.
Koen Maerevoet, the CEO of KPMG Belgium adds, “The quality of our national infrastructure must also recoup our slow growth compared to the Netherlands and Luxembourg. He further states, “In this sphere there are challenges to overcome, in equal measure for the federal government and the regions. Our country is in the Top 20 and is maintaining its position, which is already very positive.”
Hong Kong (4th) and Singapore (7th) are moreover the only non-European countries and jurisdictions to feature in the Top 10. Amongst the large economies, the United Kingdom is ranked 13th, Germany 14th, Japan 20th, the United States 23rd and France 24th.
According to the study, which examined data over two decades, all of the world’s regions have witnessed an improvement in that time, except for Africa. It is also clear that Eastern Europe, Asia and the Middle East have evidenced the highest levels of development.