For the third year running, Greece has topped the list of the most complex business environment globally, according to the 13th edition of the Global Business Complexity Index (GBCI) released Tuesday.
According to GBCI, while many nations have streamlined their operations post-pandemic, Greece remains the global “epicenter of complexity” due to its unique combination of rigid bureaucracy and aggressive digital reform.
What is driving business complexity in Greece?
Despite a nationwide push for modernization, the report finds that Greece has struggled to shed its “legacy” administrative habits. New digital systems often function alongside—rather than in place of—older, manual procedures, creating a double workload for businesses.
Greece’s ambitious electronic bookkeeping system, MyData, is cited as a primary factor in its three-year reign at the top. While the system aims to eliminate tax evasion, its technical demands and frequent updates remain a significant barrier for foreign firms.
In addition, over the last thirty-six months, the frequency of changes to tax rates, labor laws, and compliance deadlines has been higher in Greece than anywhere else in the Eurozone. This “regulatory whiplash” makes it nearly impossible for multinational companies to automate their compliance without constant human intervention.
Strategic outlook
The report suggests that Greece’s ranking is not necessarily a sign of economic failure but rather a “growing pain” of a country undergoing a massive institutional overhaul. However, for the international business community, the message is clear: Greece is a high-maintenance jurisdiction.
To succeed in the Greek market, companies must prioritize “local-first” strategies, as the administrative landscape is too intricate to manage from centralized global headquarters.
Global business environment
Mexico is the second most complex, driven by frequent regulatory changes, unpredictable administrative requirements, evolving digital requirements, and unclear expectations by the tax authorities. Brazil ranks as the third most complex, with a multi-layered tax system and frequent regulatory changes and heavy compliance demands, alongside inconsistent rules at federal, state, and municipal levels.
France (4th) and Italy (8th) also remain in the top 10 most complex jurisdictions for businesses worldwide. France’s complexity is driven by high regulatory density, strict compliance obligations, and language requirements, which slow market entry and increase operating costs. On the other hand, Italy faces constant legislative changes, complex labor laws and heavy administrative procedures, with businesses still required to navigate notarial processes, in-person requirements, and evolving employment regulation.
At the other end of the spectrum, Denmark, Hong Kong, the Netherlands, and the Czech Republic are among the top 10 easiest jurisdictions for doing business.
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