MERI rankings
The positioning matrix is the screening view: market readiness on one axis, growth opportunity on the other, downside risk as colour. The enriched table below exposes pillar shape, trajectory, flags and data confidence per country.
147 of 158 countries combine different best-coverage years across Readiness, Opportunity and Risk. The three axes may be as of different years — select a country to see its per-axis vintages.
| Country | Quadrant | Pillar shape | |||||||
|---|---|---|---|---|---|---|---|---|---|
| 1 | Switzerland | 89.1 Tier 1 | 39.5 | Mature / Stable | Stable | 84.9 | 1 lower-severity | C 83U — | |
| 2 | Denmark | 87.3 Tier 1 | 39.9 | Mature / Stable | Stable | 91.1 | 1 lower-severity | C 83U — | |
| 3 | Norway | 87.1 Tier 1 | 38.6 | Mature / Stable | 85.5 | 1 lower-severity | C 83U — | ||
| 4 | United Kingdom | 84.3 Tier 1 | 39.0 | Mature / Stable | Improving | 84.5 | 1 lower-severity | C 83U — | |
| 5 | Japan | 83.9 Tier 1 | 26.1 | Mature / Stable | Stable | 79.1 | 1 lower-severity | C 83U — | |
| 6 | New Zealand | 82.7 Tier 1 | 33.8 | Mature / Stable | 85.6 | 1 lower-severity | C 83U — | ||
| 7 | Singapore | 82.4 Tier 1 | 58.9 | Priority | Stable | 88.6 | 1 lower-severity | C 83U — | |
| 8 | Estonia | 82.3 Tier 1 | 24.6 | Mature / Stable | Stable | 76.5 | 1 lower-severity | C 83U — | |
| 9 | Australia | 82.1 Tier 1 | 46.3 | Mature / Stable | Stable | 85.5 | 1 lower-severity | C 83U — | |
| 10 | Austria | 81.5 Tier 1 | 22.5 | Mature / Stable | Stable | 85.0 | 1 lower-severity | C 83U — | |
| 11 | United States | 81.1 Tier 1 | 47.3 | Mature / Stable | Stable | 84.5 | 1 lower-severity | C 83U — | |
| 12 | Hong Kong | 80.9 Tier 1–2 | 42.6 | Mature / Stable | Stable2y | 86.3 | 1 lower-severity | C 75U — | |
| 13 | Canada | 80.4 Tier 1–2 | 43.2 | Mature / Stable | 92.7 | 1 lower-severity | C 83U — | ||
| 14 | France | 80.3 Tier 1–2 | 25.8 | Mature / Stable | Stable | 81.3 | active conflict+1 | C 83U — | |
| 15 | Iceland | 79.2 Tier 1–2 | 40.2 | Mature / Stable | 75.6 | 1 lower-severity | C 83U — | ||
| 16 | Belgium | 79.1 Tier 2 | 30.1 | Mature / Stable | 80.3 | 1 lower-severity | C 83U — | ||
| 17 | Luxembourg | 79.0 Tier 2 | 30.8 | Mature / Stable | Stable | 87.7 | 1 lower-severity | C 83U — | |
| 18 | Spain | 79.0 Tier 2 | 37.8 | Mature / Stable | Stable | 77.5 | 1 lower-severity | C 83U — | |
| 19 | South Korea | 78.8 Tier 2 | 33.9 | Mature / Stable | Stable | 86.0 | 1 lower-severity | C 83U — | |
| 20 | Czechia | 78.5 Tier 2 | 31.3 | Mature / Stable | Stable | 82.0 | 1 lower-severity | C 83U — | |
| 21 | Lithuania | 78.5 Tier 2 | 30.4 | Mature / Stable | Stable | 74.3 | 1 lower-severity | C 83U — | |
| 22 | Slovakia | 76.8 Tier 2 | 28.3 | Mature / Stable | Stable | 73.2 | 1 lower-severity | C 83U — | |
| 23 | Germany | 76.7 Tier 2 | 26.0 | Mature / Stable | Improving | 86.1 | 1 lower-severity | C 83U — | |
| 24 | Finland | 76.6 Tier 2 | 26.0 | Mature / Stable | Stable | 85.0 | 1 lower-severity | C 83U — | |
| 25 | Netherlands | 76.0 Tier 2 | 32.5 | Mature / Stable | Improving | 86.1 | 1 lower-severity | C 83U — | |
| 26 | Cyprus | 75.6 Tier 2 | 36.5 | Mature / Stable | Stable2y | 76.4 | 1 lower-severity | C 75U — | |
| 27 | Georgia | 75.3 Tier 2 | 59.9 | Priority | Stable | 63.9 | 1 lower-severity | C 83U — | |
| 28 | Slovenia | 74.2 Tier 2 | 51.0 | Priority | 80.6 | 1 lower-severity | C 83U — | ||
| 29 | Brunei | 73.7 Tier 2 | 28.3 | Mature / Stable | n/a | 79.7 | — | C 75U — | |
| 30 | Israel | 73.5 Tier 2 | 42.1 | Mature / Stable | 79.6 | active conflict+1 | C 83U — | ||
| 31 | Greece | 73.3 Tier 2 | 39.3 | Mature / Stable | Stable | 70.1 | 1 lower-severity | C 83U — | |
| 32 | Portugal | 73.2 Tier 2 | 37.5 | Mature / Stable | Improving | 77.3 | 1 lower-severity | C 83U — | |
| 33 | Chile | 73.1 Tier 2 | 37.2 | Mature / Stable | 73.6 | 1 lower-severity | C 83U — | ||
| 34 | Hungary | 72.9 Tier 2 | 26.1 | Mature / Stable | Stable | 65.8 | 1 lower-severity | C 83U — | |
| 35 | Moldova | 72.7 Tier 2 | 35.4 | Mature / Stable | Stable | 55.8 | 1 lower-severity | C 83U — | |
| 36 | Croatia | 72.2 Tier 2 | 46.8 | Mature / Stable | Stable | 72.7 | 1 lower-severity | C 83U — | |
| 37 | Poland | 71.8 Tier 2 | 40.3 | Mature / Stable | Stable | 77.5 | 1 lower-severity | C 83U — | |
| 38 | Malta | 71.8 Tier 2 | 72.5 | Priority | Stable2y | 78.6 | 1 lower-severity | C 75U — | |
| 39 | Sweden | 71.5 Tier 2 | 31.4 | Mature / Stable | Stable | 85.4 | 1 lower-severity | C 83U — | |
| 40 | Qatar | 71.4 Tier 2 | 58.5 | Priority | Stable2y | 81.0 | 1 lower-severity | C 67U — | |
| 41 | Bulgaria | 71.3 Tier 2 | 39.4 | Mature / Stable | Stable | 71.5 | 1 lower-severity | C 83U — | |
| 42 | Italy | 71.0 Tier 2 | 26.6 | Mature / Stable | Stable | 74.2 | 1 lower-severity | C 83U — | |
| 43 | Bahrain | 70.9 Tier 2 | 39.2 | Mature / Stable | Improving2y | 65.0 | 1 lower-severity | C 75U — | |
| 44 | Montenegro | 70.4 Tier 2 | 45.7 | Mature / Stable | Stable | 64.3 | 1 lower-severity | C 83U — | |
| 45 | Ireland | 70.3 Tier 2 | 45.5 | Mature / Stable | Stable | 82.3 | 1 lower-severity | C 83U — | |
| 46 | Uruguay | 69.7 Tier 2 | 35.9 | Mature / Stable | 68.2 | 1 lower-severity | C 83U — | ||
| 47 | Costa Rica | 69.0 Tier 2 | 55.1 | Priority | 68.4 | 1 lower-severity | C 83U — | ||
| 48 | Armenia | 68.7 Tier 2 | 72.6 | Priority | Stable | 64.4 | 1 lower-severity | C 83U — | |
| 49 | Mauritius | 68.4 Tier 2 | 39.8 | Mature / Stable | 68.8 | 1 lower-severity | C 83U — | ||
| 50 | Romania | 68.2 Tier 2 | 34.6 | Mature / Stable | Stable | 57.5 | 1 lower-severity | C 83U — | |
| 51 | Malaysia | 68.1 Tier 2 | 58.7 | Priority | Stable | 80.7 | 1 lower-severity | C 83U — | |
| 52 | Albania | 68.1 Tier 2 | 55.4 | Priority | Stable | 66.0 | 1 lower-severity | C 75U — | |
| 53 | Oman | 67.4 Tier 2 | 56.9 | Priority | Stable2y | 73.6 | 1 lower-severity | C 67U — | |
| 54 | Serbia | 67.3 Tier 2 | 47.8 | Mature / Stable | Stable | 64.0 | 1 lower-severity | C 83U — | |
| 55 | Kazakhstan | 67.2 Tier 2 | 36.6 | Mature / Stable | Stable | 51.5 | 1 lower-severity | C 83U — | |
| 56 | Saudi Arabia | 67.1 Tier 2 | 62.3 | Priority | Stable2y | 93.1 | 1 lower-severity | C 75U — | |
| 57 | North Macedonia | 67.0 Tier 2 | 32.7 | Mature / Stable | Stable | 62.0 | 1 lower-severity | C 83U — | |
| 58 | Barbados | 66.3 Tier 2 | 33.0 | Mature / Stable | n/a | 62.1 | — | C 75U — | |
| 59 | China | 66.3 Tier 2 | 45.2 | Mature / Stable | Stable | 87.1 | 1 lower-severity | C 83U — | |
| 60 | St. Vincent and the Grenadines | 65.9 Tier 2–3 | 46.4 | Mature / Stable | n/a | 55.4 | 1 lower-severity | C 67U — | |
| 61 | Seychelles | 65.6 Tier 2–3 | 25.0 | Mature / Stable | n/a | 40.6 | 1 lower-severity | C 83U — | |
| 62 | Mongolia | 65.4 Tier 2–3 | 59.6 | Priority | Stable | 56.0 | 1 lower-severity | C 75U — | |
| 63 | Thailand | 65.3 Tier 2–3 | 35.7 | Mature / Stable | Stable | 76.4 | active conflict+1 | C 83U — | |
| 64 | Bhutan | 65.1 Tier 2–3 | 43.1 | Mature / Stable | Stable2y | 69.9 | — | C 75U — | |
| 65 | Colombia | 64.6 Tier 2–3 | 41.9 | Mature / Stable | Stable | 58.7 | active conflict+1 | C 83U — | |
| 66 | Kuwait | 64.6 Tier 2–3 | 28.2 | Mature / Stable | Improving2y | 81.7 | 1 lower-severity | C 67U — | |
| 67 | Brazil | 64.5 Tier 2–3 | 51.0 | Priority | Stable | 63.6 | active conflict+1 | C 83U — | |
| 68 | Belarus | 64.0 Tier 2–3 | 41.3 | Mature / Stable | Stable | 43.6 | sanctioned entities | C 75U — | |
| 69 | Vietnam | 63.8 Tier 3 | 61.2 | Priority | Stable | 66.0 | 1 lower-severity | C 83U — | |
| 70 | Uzbekistan | 63.6 Tier 3 | 47.1 | Mature / Stable | Stable | 56.4 | 1 lower-severity | C 83U — | |
| 71 | Ukraine | 63.6 Tier 3 | 38.4 | Mature / Stable | Stable | 49.4 | active conflict+1 | C 75U — | |
| 72 | Latvia | 63.5 Tier 3 | 25.3 | Mature / Stable | Improving | 76.4 | 1 lower-severity | C 83U — | |
| 73 | South Africa | 63.4 Tier 3 | 22.7 | Mature / Stable | Stable | 66.3 | 1 lower-severity | C 83U — | |
| 74 | Panama | 63.0 Tier 3 | 36.3 | Mature / Stable | Improving2y | 68.6 | 1 lower-severity | C 67U — | |
| 75 | Botswana | 62.7 Tier 3 | 48.5 | Mature / Stable | Stable | 66.2 | — | C 83U — | |
| 76 | Bosnia and Herzegovina | 62.3 Tier 3 | 39.9 | Mature / Stable | Stable | 59.2 | 1 lower-severity | C 83U — | |
| 77 | Russia | 62.0 Tier 3 | 33.8 | Mature / Stable | Improving2y | 63.7 | active conflictsanctioned entities | C 75U — | |
| 78 | Peru | 61.5 Tier 3 | 44.6 | Mature / Stable | 68.1 | 1 lower-severity | C 83U — | ||
| 79 | Argentina | 61.2 Tier 3 | 29.0 | Mature / Stable | Stable | 13.2 | 1 lower-severity | C 75U — | |
| 80 | Rwanda | 60.9 Tier 3 | 66.1 | Priority | Improving | 52.3 | 1 lower-severity | C 83U — | |
| 81 | Bahamas | 60.8 Tier 3 | 59.1 | Priority | Stable2y | 64.1 | 1 lower-severity | C 67U — | |
| 82 | Indonesia | 60.6 Tier 3 | 46.2 | Mature / Stable | Stable | 76.3 | active conflict+1 | C 83U — | |
| 83 | Turkey | 60.1 Tier 3 | 42.1 | Mature / Stable | Stable | 41.7 | 1 lower-severity | C 83U — | |
| 84 | Azerbaijan | 59.6 Tier 3 | 52.6 | Priority | Stable | 63.0 | active conflict+1 | C 83U — | |
| 85 | Dominican Republic | 59.2 Tier 3 | 45.6 | Mature / Stable | Improving2y | 56.8 | 1 lower-severity | C 67U — | |
| 86 | Morocco | 59.1 Tier 3 | 48.9 | Mature / Stable | Stable | 73.9 | 1 lower-severity | C 83U — | |
| 87 | Namibia | 58.8 Tier 3 | 51.5 | Priority | Stable | 59.9 | 1 lower-severity | C 83U — | |
| 89 | Mexico | 58.1 Tier 3 | 38.8 | Mature / Stable | Stable | 67.8 | active conflict+1 | C 83U — | |
| 90 | Maldives | 57.5 Tier 3 | 43.1 | Mature / Stable | n/a | 57.3 | 1 lower-severity | C 67U — | |
| 91 | India | 57.0 Tier 3 | 51.3 | Priority | Stable | 74.7 | active conflict+1 | C 83U — | |
| 92 | Jamaica | 57.0 Tier 3 | 22.5 | Mature / Stable | Stable2y | 53.5 | 1 lower-severity | C 75U — | |
| 93 | Bolivia | 55.4 Tier 3 | 23.2 | Mature / Stable | Improving2y | 21.8 | 1 lower-severity | C 67U — | |
| 94 | Philippines | 55.4 Tier 3 | 38.0 | Mature / Stable | Stable | 72.6 | active conflict+1 | C 83U — | |
| 95 | Trinidad and Tobago | 55.3 Tier 3 | 15.0 | Mature / Stable | Stable2y | 68.5 | 1 lower-severity | C 75U — | |
| 96 | Kyrgyzstan | 55.3 Tier 3 | 40.7 | Mature / Stable | Stable | 42.9 | 1 lower-severity | C 83U — | |
| 97 | Nepal | 54.7 Tier 3 | 37.8 | Mature / Stable | n/a | 62.4 | — | C 75U — | |
| 98 | Cambodia | 54.7 Tier 3 | 54.2 | Priority | Stable | 65.0 | 1 lower-severity | C 83U — | |
| 99 | Ecuador | 54.5 Tier 3 | 26.6 | Mature / Stable | n/a | 55.4 | active conflict+1 | C 75U — | |
| 100 | Paraguay | 54.0 Tier 3 | 48.1 | Mature / Stable | Improving2y | 64.9 | 1 lower-severity | C 75U — | |
| 101 | Tunisia | 53.6 Tier 3 | 31.7 | Mature / Stable | n/a | 42.0 | 1 lower-severity | C 83U — | |
| 102 | Kenya | 53.5 Tier 3 | 49.9 | Mature / Stable | Stable | 48.6 | active conflict+1 | C 75U — | |
| 103 | Guatemala | 52.8 Tier 3 | 49.0 | Mature / Stable | Improving2y | 65.1 | 1 lower-severity | C 67U — | |
| 104 | Jordan | 52.8 Tier 3 | 44.0 | Mature / Stable | Stable2y | 68.8 | 1 lower-severity | C 83U — | |
| 105 | Cote d'Ivoire | 52.4 Tier 3 | 41.7 | Mature / Stable | n/a | 71.7 | 1 lower-severity | C 75U — | |
| 106 | Zimbabwe | 52.1 Tier 3 | 40.6 | Mature / Stable | Improving | 19.8 | 1 lower-severity | C 75U — | |
| 107 | Guyana | 52.1 Tier 3 | 63.4 | Priority | Improving2y | 61.9 | 1 lower-severity | C 67U — | |
| 108 | Tanzania | 52.0 Tier 3 | 47.0 | Mature / Stable | Stable | 59.5 | 1 lower-severity | C 83U — | |
| 109 | Honduras | 52.0 Tier 3 | 41.5 | Mature / Stable | Improving2y | 58.2 | active conflict+1 | C 67U — | |
| 110 | Suriname | 51.9 Tier 3 | 28.6 | Mature / Stable | n/a | 30.6 | 1 lower-severity | C 67U — | |
| 111 | Cabo Verde | 51.9 Tier 3 | 38.5 | Mature / Stable | n/a | 66.1 | — | C 75U — | |
| 112 | Bangladesh | 51.4 Tier 3 | 43.8 | Mature / Stable | Stable | 37.9 | 1 lower-severity | C 83U — | |
| 113 | Togo | 51.3 Tier 3 | 53.0 | Priority | Improving2y | 62.6 | active conflict+1 | C 75U — | |
| 114 | Nicaragua | 51.1 Tier 3–4 | 48.2 | Mature / Stable | Improving2y | 58.9 | 1 lower-severity | C 67U — | |
| 115 | Ghana | 51.1 Tier 3–4 | 52.9 | Priority | Stable2y | 46.5 | 1 lower-severity | C 75U — | |
| 116 | Zambia | 50.3 Tier 3–4 | 53.5 | Priority | Stable | 31.2 | 1 lower-severity | C 75U — | |
| 117 | El Salvador | 49.8 Tier 3–4 | 41.2 | Caution | Improving2y | 57.0 | 1 lower-severity | C 75U — | |
| 118 | Laos | 49.7 Tier 3–4 | 50.9 | Frontier Upside | Stable | 43.5 | 1 lower-severity | C 83U — | |
| 119 | Myanmar | 49.7 Tier 3–4 | 9.1 | Caution | Stable | 32.1 | sanctioned entities | C 75U — | |
| 120 | Uganda | 49.5 Tier 3–4 | 60.4 | Frontier Upside | Stable | 54.5 | active conflict+1 | C 75U — | |
| 121 | Egypt | 49.0 Tier 4 | 43.8 | Caution | Stable2y | 18.5 | 1 lower-severity | C 83U — | |
| 122 | Vanuatu | 49.0 Tier 3–4 | 43.5 | Caution | n/a | 44.7 | — | C 75U — | |
| 123 | Benin | 48.4 Tier 4 | 50.3 | Frontier Upside | Improving2y | 69.2 | active conflict+1 | C 75U — | |
| 124 | Senegal | 48.2 Tier 4 | 43.3 | Caution | n/a | 58.0 | 1 lower-severity | C 75U — | |
| 125 | Nigeria | 47.6 Tier 4 | 28.9 | Caution | Improving2y | 12.5 | active conflict+1 | C 67U — | |
| 126 | Eswatini | 47.4 Tier 4 | 29.6 | Caution | Stable | 59.0 | — | C 83U — | |
| 127 | Malawi | 47.3 Tier 4 | 34.1 | Caution | Stable | 26.0 | — | C 75U — | |
| 128 | Lesotho | 46.4 Tier 4 | 34.6 | Caution | Stable | 47.2 | — | C 83U — | |
| 129 | Burkina Faso | 46.2 Tier 4 | 48.3 | Caution | Improving2y | 58.0 | active conflict+1 | C 75U — | |
| 130 | Timor-Leste | 45.9 Tier 4 | 28.3 | Caution | n/a | 63.0 | — | C 75U — | |
| 131 | Angola | 45.7 Tier 4 | 31.6 | Caution | Stable | 18.9 | 1 lower-severity | C 83U — | |
| 132 | Algeria | 45.6 Tier 4 | 45.7 | Caution | Stable | 61.2 | 1 lower-severity | C 75U — | |
| 133 | Venezuela | 45.5 Tier 4 | 60.5 | Frontier Upside | n/a | 18.5 | sanctioned entities | C 67U — | |
| 134 | Solomon Islands | 45.3 Tier 4 | 31.6 | Caution | Stable2y | 61.1 | — | C 67U — | |
| 135 | Mozambique | 45.0 Tier 4 | 27.1 | Caution | Stable | 49.6 | active conflict+1 | C 75U — | |
| 136 | Madagascar | 44.5 Tier 4 | 31.1 | Caution | Stable | 37.3 | — | C 83U — | |
| 137 | Pakistan | 44.5 Tier 4 | 48.7 | Caution | n/a | 40.9 | active conflict+1 | C 75U — | |
| 138 | Liberia | 44.4 Tier 4 | 34.0 | Caution | Improving2y | 47.3 | 1 lower-severity | C 67U — | |
| 139 | Cameroon | 44.2 Tier 4 | 40.2 | Caution | n/a | 55.7 | active conflict+1 | C 75U — | |
| 140 | Gabon | 44.1 Tier 4 | 34.0 | Caution | n/a | 58.6 | 1 lower-severity | C 67U — | |
| 141 | Congo (Kinshasa) | 43.9 Tier 4 | 49.6 | Caution | Improving2y | 57.6 | 1 lower-severity | C 75U — | |
| 142 | Tajikistan | 43.7 Tier 4 | 68.3 | Frontier Upside | Stable | 60.0 | 1 lower-severity | C 83U — | |
| 143 | Niger | 43.3 Tier 4 | 37.5 | Caution | n/a | 48.6 | active conflict+1 | C 67U — | |
| 144 | Democratic Republic of the Congo | 42.9 Tier 4 | 54.3 | Frontier Upside | Stable2y | 17.2 | active conflict+1 | C 83U — | |
| 145 | Mali | 41.5 Tier 4 | 38.6 | Caution | Improving2y | 56.7 | active conflict+1 | C 75U — | |
| 146 | Burundi | 40.9 Tier 4 | 26.6 | Caution | Stable | 19.1 | active conflict+1 | C 75U — | |
| 147 | Libya | 40.3 Tier 4 | 41.7 | Caution | Improving | 48.4 | 1 lower-severity | C 75U — | |
| 148 | Guinea | 39.2 Tier 4 | 63.6 | Frontier Upside | Improving2y | 59.1 | 1 lower-severity | C 67U — | |
| 149 | The Gambia | 39.2 Tier 4 | 53.0 | Frontier Upside | Stable2y | 36.1 | 1 lower-severity | C 75U — | |
| 150 | Mauritania | 38.0 Tier 4 | 44.6 | Caution | Improving2y | 66.2 | 1 lower-severity | C 67U — | |
| 151 | Sierra Leone | 37.6 Tier 4 | 48.7 | Caution | n/a | 21.7 | 1 lower-severity | C 75U — | |
| 152 | Guinea-Bissau | 37.1 Tier 4 | 46.9 | Caution | Improving2y | 54.9 | — | C 67U — | |
| 153 | Iraq | 37.1 Tier 4 | 46.3 | Caution | n/a | 60.1 | active conflict+1 | C 75U — | |
| 154 | Papua New Guinea | 36.6 Tier 4 | 22.8 | Caution | n/a | 58.5 | — | C 75U — | |
| 155 | Chad | 31.8 Tier 5 | 33.1 | Caution | n/a | 56.5 | active conflict+1 | C 75U — | |
| 156 | Central African Republic | 27.9 Tier 5 | 54.4 | Frontier Upside | Improving2y | 66.1 | active conflict+1 | C 75U — | |
| — | Equatorial Guinea | 36.1 Tier 4–5 | 26.5 | Caution | n/a | 71.0 | — | C 75U — | |
| est. | Samoa | 58.3 Tier 3 limited data | 34.9 | Mature / Stable | n/a | 47.8 | — | C 67U — | |
| est. | Tonga | 53.6 Tier 3 limited data | 31.7 | Mature / Stable | n/a | 47.5 | — | C 67U — |