The report, commissioned by Barclays Wealth and carried out by the EIU, polled almost 1000 entrepreneurs.

It revealed that the Middle East and Africa is the fastest improving region for entrepreneurship, followed by Asia-Pacific. Europe came last in the ranking.

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Gerard Aquilina, head of international private banking and vice-chairman of Barclays Wealth, said: “The global enterprise landscape has been evolving. While some regions such as Europe and North America are established and have set a benchmark, attractive growth patterns have emerged in the Middle East and north Africa.”