A country's income level is correlated with the amount of time it takes to resolve business insolvencies, with low income countries taking an average of 3.13 years to resolve business insolvencies in 2019. This compares to an average of 1.95 years in high income countries at this time, and 2.63 years in middle income countries.
Average time to resolve business insolvencies worldwide from 2003 to 2019, by income level
(in years)
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World Bank. (April 9, 2020). Average time to resolve business insolvencies worldwide from 2003 to 2019, by income level (in years) [Graph]. In Statista. Retrieved May 24, 2022, from https://www.statista.com/statistics/1116896/business-insolvencies-time-resolve-worldwide-income-level/
World Bank. "Average time to resolve business insolvencies worldwide from 2003 to 2019, by income level (in years)." Chart. April 9, 2020. Statista. Accessed May 24, 2022. https://www.statista.com/statistics/1116896/business-insolvencies-time-resolve-worldwide-income-level/
World Bank. (2020). Average time to resolve business insolvencies worldwide from 2003 to 2019, by income level (in years). Statista. Statista Inc.. Accessed: May 24, 2022. https://www.statista.com/statistics/1116896/business-insolvencies-time-resolve-worldwide-income-level/
World Bank. "Average Time to Resolve Business Insolvencies Worldwide from 2003 to 2019, by Income Level (in Years)." Statista, Statista Inc., 9 Apr 2020, https://www.statista.com/statistics/1116896/business-insolvencies-time-resolve-worldwide-income-level/
World Bank, Average time to resolve business insolvencies worldwide from 2003 to 2019, by income level (in years) Statista, https://www.statista.com/statistics/1116896/business-insolvencies-time-resolve-worldwide-income-level/ (last visited May 24, 2022)
