Benelux: ranking of affordability of financial services

This statistic shows the ranking of the affordability of financial services scores according in the Benelux countries (Belgium, Luxembourg and the Netherlands) in 2016 and 2017, by country. Of the Benelux countries, Luxembourg has the highest score when it comes to the affordability of financial services. The Global Competitiveness Index (GCI) combines 114 indicators that capture concepts that matter for productivity and long-term prosperity. These indicators are grouped into 12 pillars: institutions, infrastructure, macroeconomic environment, health and primary education, higher education and training, goods market efficiency, labor market efficiency, financial market development, technological readiness, market size, business sophistication, and innovation. These pillars are in turn organized into three subindexes: basic requirements, efficiency enhancers, and innovation and sophistication factors. The three subindexes are given different weights in the calculation of the overall Index, depending on each economy’s stage of development, as proxied by its GDP per capita and the share of exports represented by raw materials.

In your country, to what extent does the cost of financial services (e.g., insurance, loans, trade finance) impede business activity?

Characteristic	Index score (on a scale of 1 to 7)
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Release date

September 2017

More information

Region

Belgium, Luxembourg, Netherlands

Survey time period

2016 and 2017

Number of respondents

220 respondents

Age group

18 years and older

Special properties

business executives**

Method of interview

Online survey

Supplementary notes

This question was phrased by the source as follows: "In your country, to what extent does the cost of financial services (e.g., insurance, loans, trade finance) impede business activity? [1 = impedes business to a great extent; 7 = not at all]"

** The numbers provided are the weighted average from a survey which took place in both 2015 and 2016. The exact number of respondents and weights per country were as follows:
Belgium: 65 respondents in 2015 and 51 respondents in 2016, with a weight of 48 and 52 percent respectively.
Luxembourg: 49 respondents in 2015 and 62 respondents in 2016, with a weight of 42.1 and 57.9 percent respectively.
Netherlands: 83 respondents in 2015 and 75 respondents in 2016, with a weight of 46.3 and 53.7 percent respectively.

The source states that the "the Global Competitiveness Index (GCI) combines 114 indicators that capture concepts that matter for productivity and long-term prosperity. These indicators are grouped into 12 pillars: institutions, infrastructure, macroeconomic environment, health and primary education, higher education and training, goods market efficiency, labor market efficiency, financial market development, technological readiness, market size, business sophistication, and innovation. These pillars are in turn organized into three subindexes: basic requirements, efficiency enhancers, and innovation and sophistication factors. The three subindexes are given different weights in the calculation of the overall Index, depending on each economy’s stage of development, as proxied by its GDP per capita and the share of exports represented by raw materials".

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