In 2019, business insolvencies were resolved much more quickly in North America than any other region, taking an average of 0.9 years to resolve. This compares to an average of over two years in all other regions - with Sub-Saharan Africa being the longest at 2.91 years.
Average time to resolve business insolvencies worldwide in 2019, by region
(in years)
Characteristic
Average time to resolve in years
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World Bank. (April 9, 2020). Average time to resolve business insolvencies worldwide in 2019, by region (in years) [Graph]. In Statista. Retrieved August 25, 2024, from https://www.statista.com/statistics/1116448/business-insolvencies-time-resolve-region/
World Bank. "Average time to resolve business insolvencies worldwide in 2019, by region (in years)." Chart. April 9, 2020. Statista. Accessed August 25, 2024. https://www.statista.com/statistics/1116448/business-insolvencies-time-resolve-region/
World Bank. (2020). Average time to resolve business insolvencies worldwide in 2019, by region (in years). Statista. Statista Inc.. Accessed: August 25, 2024. https://www.statista.com/statistics/1116448/business-insolvencies-time-resolve-region/
World Bank. "Average Time to Resolve Business Insolvencies Worldwide in 2019, by Region (in Years)." Statista, Statista Inc., 9 Apr 2020, https://www.statista.com/statistics/1116448/business-insolvencies-time-resolve-region/
World Bank, Average time to resolve business insolvencies worldwide in 2019, by region (in years) Statista, https://www.statista.com/statistics/1116448/business-insolvencies-time-resolve-region/ (last visited August 25, 2024)
Average time to resolve business insolvencies worldwide in 2019, by region (in years) [Graph], World Bank, April 9, 2020. [Online]. Available: https://www.statista.com/statistics/1116448/business-insolvencies-time-resolve-region/