Denmark world’s least corrupt for third year running
Corrupt acts like bribery and abuse of power make it harder to start a business. The company may have to pay bribes for permits and founders could lose their start-up because someone rich and powerful wants it. Fortunately for founders, this is not a concern in Denmark. The small Scandinavian country has just been pronounced the least corrupt in the world… For the third year running.
Near top since 2018
On 30th. January 2024 the NGO Transparency International published their 2023 Corruption Perception Index placing Denmark as the best of 180 countries. The country has placed in the top 10 since 2018. Each year the NGO measures 180 countries on a scale ranking from zero at the bottom to 100 at the top. This year Denmark scored 90, while the closest runners-ups, Finland, and New Zealand, scored 87 and 85 respectively.
North non-corrupt… Mostly
Northern Europe has a global reputation as non-corrupt. Yet the other Scandi-countries Norway, Sweden and Iceland came in at 4th 6th and 19th respectively. Meanwhile other Northern European powerhouses Switzerland, Netherlands and Germany came in at 6th 8th and 9th while Singapore held on to their 5th place.
Perception of corruption important for decisions
Transparency International have published their Corruption Perception Index since 1995. It ranks countries based on how corrupt their public sector is perceived to be and draws on corruption-related data collected by a variety of reputable institutions. This method has been criticized, but according to its authors the Index is meant to measure “perception” and not “reality” because “perceptions matter in their own right, since… firms and individuals take actions based on perceptions”.
Great place to launch a business
The lack of corruption is just one of many indicators that make Denmark, its capital Copenhagen and the innovation district Copenhagen Science City a great place to do business. It is, however, an important one. Since corruption also fosters political instability, unrest and even violence, it is spectacularly bad for business.
The good-is, the bad-is and the really ugly
Three nations known as start-up friendly; United Kingdom, USA, and Israel place 20th, 24th and 33rd respectively with corruption scores of 71, 69, and 62. At the very bottom of the corruption index Syria and Venezuela share a 177th place with scores of just 13 and 13 while Somalia scrapes the barrel with only 11.
About Copenhagen Science City
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