In the year 2006 ZEW had developed the Country Index for Family Enterprises on behalf of the Stiftung Familienunternehmen. The objective of this index is an international comparison of investment locations from the perspective of family enterprises. For this purpose partial indicators have been developed covering the aspects taxation, employment, regulations, financing, public infrastructure and (since 2008) financial markets for 18 countries. Within the scope of this project the index is updated for the third time. Based on the experience form the current financial and sovereign debt crisis the financial markets indicator is revised. Furthermore, the update 2012 is accompanied by an excursus addressing the challenges of energy transition.