FM has published its 2026 FM Resilience Index, ranking 130 countries and territories by the strength of their business environments amid shifting climate hazards, inflation pressures and widening cybersecurity gaps.
Denmark held the top spot for a third consecutive year, as Europe took nine of the top 10 places. Luxembourg ranked second and Singapore third. Norway and Switzerland followed, with Germany, Sweden, Ireland, Finland and Belgium completing the top 10.
Denmark improved its scores in cybersecurity, climate risk exposure, climate risk quality, fire risk quality and greenhouse gas emissions, helping it maintain its lead.
The index breaks the United States into three zones, each with its own ranking, and all finished outside the top 10. Zone 3, covering the Midwest and Southwestern United States, ranked 11. Zone 1, the Eastern United States, ranked 12. Zone 2, the Western United States, ranked 16.
In Asia, India posted gains across all three zones. Zone 3, covering the central and western region, rose four places to 76. Zone 1, Eastern India, moved up three places to 94. Zone 2, Northern India, climbed four places to 100.
FM positioned the index as a guide for companies weighing investment and supply chain decisions across regions with different risk profiles. It aggregates scores across 18 drivers, blending macro indicators with physical risk measures.
Big movers
Over the past five years, several African countries recorded the biggest gains. Ghana climbed 18 places to 70. Rwanda rose 14 places to 67. Nigeria gained 12 positions to 102.
Some countries moved sharply in the opposite direction. Croatia dropped 22 places to 44. Cameroon fell 18 places to 113. Mongolia declined 17 spots to 108. Iran slipped 16 spots to 125.
Across regions, the 2026 results show higher scores in Europe and Asia, mixed performance in parts of the Americas, and improvements in several African countries.
Leo Kushner, business intelligence director at FM, said the latest edition shows how quickly risk conditions can change for companies operating across borders.
“What businesses don’t see can hurt them, especially as climate and operational risks shift faster than expected,” Kushner said. “The 2026 FM Resilience Index delivers the objective insight leaders need to navigate volatility, understand evolving risk and make more resilient strategic decisions.”
FM also linked index position to recovery from losses. Based on its property-loss analysis, locations in the top 50 recover more than 30% faster from property losses on average than those further down the table.
Geopolitical effects
The index tracks how geopolitical and economic conditions affect resilience. Iran continued a multi-year decline, falling eight places to 125. Its inflation category slipped five spots to 127, and it also lost ground in internet usage, dropping 14 places to 87.
Ukraine fell five places to 84, while Russia rose one to 59. Over the past five years, Russia fell seven ranks and Ukraine fell 12.
Denmark’s top ranking comes as the country faces tensions with the United States over Greenland. Greenland is not measured separately in the index.
Venezuela finished last at 130 after dropping five places. FM attributed the decline to weaker performance in health expenditure, education, inflation and GDP per capita.
Data centres focus
FM highlighted how data centre and power generation operators use the index. Those sectors have expanded rapidly and often need sites with reliable power, stable operating conditions and lower physical hazard exposure.
The index points to established hubs such as the United States, China and major European markets, while also highlighting countries that score well on factors affecting operational resilience.
Denmark stands out for energy efficiency and a 20-place jump in cybersecurity. Singapore, ranked third, has a developed data centre ecosystem and scores strongly on governance and digital infrastructure.
Switzerland, Germany, Sweden and Finland also rank highly, with FM citing grid strength, regulatory predictability and lower physical risk profiles as key considerations for large infrastructure projects. In Asia, Japan ranked 32 and South Korea ranked 34.
The index draws on third-party sources including the International Monetary Fund and the World Bank, alongside FM measures of risk exposure and improvement. It also includes indicators covering water stress, fire risk, energy intensity and climate risk.
Srini Krishnamurthy, senior vice president at FM India, said India’s gains reflect a stronger focus on the foundations that underpin resilience across regions.
“India’s continued rise across all three regions in the 2026 FM Resilience Index reflects the country’s growing focus on strengthening infrastructure, enhancing digital adoption and improving risk awareness. As global supply chains evolve and climate and cyber risks intensify, India is positioning itself as an increasingly resilient destination for investment and long-term growth. Businesses that proactively address physical and operational risks will be better placed to capitalize on this momentum,” Krishnamurthy said.