The Armenia-India Business Council (AIBC) is pleased to celebrate the findings of the Global Entrepreneurship Monitor (GEM) Armenia National Report 2024โ2025, a landmark study that positions Armenia among the worldโs most entrepreneurially driven nations. Implemented by Ameria CJSC in partnership with the GEM Global Consortium, and supported by the Ministry of Economy of Armenia, the report provides a thorough assessment of the entrepreneurial landscape in Armeniaโand the results are both inspiring and full of promise.
At the heart of the report lies a powerful revelation: Armenia ranks 5th globally among 51 countries in terms of its populationโs positive perception of entrepreneurship. A remarkable 87.6% of Armenian adults see entrepreneurship as a desirable career path, placing the country at the top of the Eastern Europe+ region. This ranking reflects not only the nationโs historical resilience but also the growing cultural legitimacy of business creation as a pathway to personal and national progress.
Armenians are not only optimistic about entrepreneurshipโthey deeply respect those who engage in it. The report notes that nearly 80% of respondents admire successful entrepreneurs, and more than two-thirds report regular exposure to entrepreneurial success stories in the media. This level of visibility and admiration nurtures a business-friendly environment, where aspiring founders are inspired by real role models.
Another noteworthy achievement highlighted in the report is Armeniaโs standing in gender equality in entrepreneurship. The country ranks 4th globally for perceived equality of opportunity between men and women in starting a business. While a gender gap still exists in actual startup rates, this perception indicates that Armenia has laid the groundwork for more inclusive growth.
Generational shifts are also reshaping the entrepreneurial narrative. The report finds that Armeniaโs youthโparticularly those aged 18 to 24โare showing increased interest in wealth creation through innovation and business. Support for income redistribution in this age group has declined from 70.1% in 2019 to just 51.6% in 2024, signaling a decisive move toward market-oriented values and personal enterprise.
Crucially, entrepreneurial intent remains strong. In 2024, Armenia had the highest Total Early-Stage Entrepreneurial Activity (TEA) rate in the Eastern Europe+ region at 17.9%, outperforming countries like Poland, Romania, and Croatia. The report also highlights Armeniaโs strong rate of informal investor activity, with 13.5% of adults having financially supported someone elseโs business in the past three yearsโmore than double the global average.
While the report does acknowledge challengesโsuch as limited digital transformation and reliance on necessity-based entrepreneurshipโthese are framed not as weaknesses but as opportunities. With the right policy interventions, investment mechanisms, and international collaboration, Armenia can channel its entrepreneurial energy into scalable, innovation-led ventures.
At AIBC, we believe the findings of this report come at a pivotal time. Armenia is hungry for change, rich in talent, and driven by a new generation that values creativity, autonomy, and purpose. Indiaโs deep experience in startup development, digital infrastructure, and AI transformation makes it an ideal partner for Armeniaโs next stage of growth.
We commend the leadership of Dr. Tigran Jrbashyan, his research team, and all contributors for delivering such a valuable and hopeful report. As Armenia continues to rise on the global entrepreneurial map, AIBC stands ready to help build the bridgesโbetween people, ideas, and economiesโthat will shape the future of Indo-Armenian innovation.
Read the full report by clicking on the cover below: