The Milken Institute has released its 2023 Global Opportunity index, which takes stock of the economic landscape of more than 120 countries.
The goal: help businesses make investment decisions and governments identify policies for attracting foreign capital, the non-profit think tank said in a February news release.
The Milken Institute index tracks countries' performance in five key categories: international standards and policy; economic fundamentals; institutional framework; financial services; and business perceptions. Variables in each are then grouped into 14 subcategories, including, but not limited to, workforce and talent, transparency, financial access, business constraint and economic openness.
The findings are presented on an updated website with new interactive functions that allow users to customize their searches, comparing, for example, regional competitiveness, stability of institutions, or investment risk, Milken said
The 2023 report highlights emerging middle-income G-20 countries, including India, Indonesia, Argentina, Turkey, and China.
"The (G-20) countries are of particular importance for a couple of reasons,'' said Maggie Switek, director of research and a co-author of the report. "They are very big economies and so they have an importance when it comes to the global economic conditions. And at the same time, they face very unique conditions, as compared to the higher-income countries because of the trade off between climate and growth."
Two key dimensions of the index are strength in financial services and economic fundamentals, the release said.
Among their peer countries, India and Indonesia were highlighted as leaders in these factors, due to India having the ninth- and 10th-largest stock markets, and Indonesia's investment into workforce development, particularly when it comes to investment, staff training, education and the participation of women.
The full Global Opportunity index and the interactive map can be accessed on Milken's website.
