Bulgaria falls in the ranking in terms of global competitiveness

Bulgaria continues to fall in the ranking of world competitiveness. In the 2024 yearbook of the Swiss Institute for Management Development – ​​IMD, the country already occupies the 58th place out of a total of 67 countries.

This is one position lower than our performance from the previous year, but compared to 2020 the drop is more than 10 positions, and compared to 2009 – by even 20 positions. The greatest setback was observed in terms of the state of the infrastructure and the quality of the business environment. "The competitiveness of an economy cannot be reduced only to its GDP and productivity.

Political, social and cultural dimensions also play a role. "Governments play a key role in providing an environment characterized by effective infrastructure, institutions and policies that create sustainable value for enterprises," the authors of the ranking point out, reports "Sega.bg.njsu".

To make the overall ranking of each country, the IMD examines nearly 20 indicators. Of these, in 2024 Bulgaria has the worst ranking in terms of foreign investment, business legislation, basic infrastructure, labor market, management practices and "attitude and values". The top 10 places in the IMD competitiveness ranking are held by Singapore, Switzerland, Ireland, Hong Kong, Sweden, United Arab Emirates, Taiwan, Netherlands and Norway.

Bulgaria is preceded by almost all European countries. Even Kazakhstan, India, Botswana, Mexico and Colombia are more competitive economies than it.

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