Tunisia has fallen to 118th place out of 150 countries and territories in the latest edition of the Henley & Partners Global Investment Risk and Resilience Index (GIRRI) for 2026, marking a seven-place decline from its previous position of 111th.
While the country’s overall score remained virtually unchanged at 52.5 out of 100, its relative standing deteriorated as other nations accelerated their improvements in risk management and structural resilience. Within Africa, Tunisia now ranks 14th.
The GIRRI, updated annually by the British advisory firm, evaluates the capacity of states to provide a safe, stable, and resilient environment for investors.
The index measures both the level of exposure to major investment risks, spanning geopolitical, economic, institutional, and climatic factors and the ability of each economy to absorb shocks, adapt to disruptions, and preserve long-term attractiveness.
The assessment draws on nearly 3,000 data points across 13 distinct indicators. Five of these directly quantify risk exposure, tracking inflation rates, currency volatility, political instability, the quality of the legal and regulatory framework, and physical risks linked to climate change.
A closer look at Tunisia’s performance reveals a total risk score of 39.5, with the legal and regulatory environment emerging as the country’s most significant vulnerability.
This indicator recorded the least favorable result among all categories, suggesting that governance and judicial predictability remain critical deterrents to foreign capital.
Despite holding its ground in absolute terms, Tunisia’s inability to outpace competing destinations, many of which have enacted swifter reforms, has pushed it further down the global pecking order.
Africa’s leaders and laggards
At the continental level, the rankings continue to be dominated by the Indian Ocean and Southern African states.
Mauritius retains its position as Africa’s top destination for low-risk investment, securing 57th place globally, closely followed by Botswana in 58th.
Morocco stands out as one of the best-performing African nations, climbing 28 places to land at 70th worldwide, underscoring the effectiveness of its recent policy adjustments.
Further down, Tanzania ranks 82nd, South Africa 87th, and Côte d’Ivoire 91st. Seychelles hovers near the 70th mark alongside Morocco, while Algeria occupies the 94th position. At the lower end of the African table, Cape Verde (125th), Cameroon (130th), and Namibia (138th) trail significantly behind their regional peers.
Europe dominates the global safety rankings
On a global scale, the safest jurisdictions for investors remain overwhelmingly European. Switzerland, Denmark, Sweden, and Norway lead the pack, alongside Singapore, which stands as one of the few Asian economies capable of matching European stability standards.
Conversely, the lowest-ranked countries are concentrated in Sub-Saharan Africa, parts of the Middle East, and South Asia, where elevated economic, political, and climate risks coincide with limited structural resilience, exemplified by Lebanon’s bottom-tier placement.
It is worth noting that the latest GIRRI update has undergone a significant methodological revision, resulting in the exclusion of 57 economies from the previous edition.
Henley & Partners cited adjustments to data availability and comparability as the reason, with several territories lacking sufficiently comprehensive information across the full spectrum of risk and resilience indicators.
This recalibration effectively narrows the peer group against which Tunisia and other remaining nations are now benchmarked, making the seven-place drop a particularly stark signal for international investors monitoring North African markets.
