Regulatory Excellence Overshadowed by Implementation Gaps
The latest World Bank Business Ready 2025 report places Greece among the top performers in regulatory framework quality across 101 assessed countries. However, the country continues to struggle with the practical application of these rules, reflecting a longstanding disconnect between legislation and its day to day use. Difficulties often arise because essential tools that would support businesses are either incomplete or missing, particularly in areas where simplification and digitalisation remain inadequate.
Such contradictions are evident in the strong performance recorded in the procedures for starting a business, where Greece ranks 3rd with a score of 93.78. Progress achieved by the General Commercial Registry since 2012 has significantly streamlined company formation. Challenges reappear when enterprises seek permits for new facilities, as the country remains among the lowest ranked in issuing building licences, resulting in delays that can extend for years.
Key Rankings Highlight Structural Strengths and Persistent Weaknesses
The new Business Ready 2025 report, which replaces the former Doing Business index, evaluates business conditions across 3 pillars. Greece ranks 2nd in regulatory framework quality with a score of 79.46 against an average of 66.32. Public services place the country at 27th with a score of 66.91 compared to the global average of 53.97. Operational effectiveness proves more problematic, positioning Greece at 45th with a score of 61.64, only slightly above the 60.03 average.
Strong areas include utilities, where Greece ranks 14th, international trade at 15th and bankruptcy procedures at 12th. A comparison with the 2024 edition shows a dramatic improvement, as Greece had been placed 34th among 50 countries with just 43.71 points. Significant progress nevertheless contrasts sharply with weak performance in land use and business location planning, an area where the score stands at 55.07. Financial services represent another major obstacle, with Greece ranking 77th due to restricted access to funding, an issue tied to turbulence in the banking sector over the previous decade.
Labour Relations and Justice System Remain Stumbling Blocks
Moderate results appear in labour legislation and dispute resolution, as the slow pace of judicial procedures continues to deter businesses. Reforms have recently accelerated first instance decisions, reducing their duration by 53.2 percent. Mediation, while legally available, remains underused and does little to counterbalance delays in the courts.
Market competition places Greece in the upper quartile at 25th globally. Troubling indicators, however, emerge in public procurement, where the country ranks 95th. Contract signing times place Greece at the very bottom of the international list, while state payment processes sit at 84th, reflecting lengthy procedures that significantly affect companies dependent on public sector contracts.
Ageing Workforce Heightens Need for Innovation
The report underscores the importance of linking favourable business conditions with sustainable job creation. Economies with mature workforces, such as Greece, are urged to prioritise innovation and pursue reforms that will foster high quality employment. Productivity improvements and labour market adaptation are highlighted as essential strategies for addressing the challenges posed by an ageing population.
