Bulgaria 54th out of 59 in World Competitiveness Ranking

Business | May 31, 2012, Thursday // 20:25| Views: | Comments: 0
Bulgaria: Bulgaria 54th out of 59 in World Competitiveness Ranking Bulgaria has moved one place up in the 2012 annual World Competitiveness Ranking of the Institute for Management Development (IMD). Photo by bnr.bg

Bulgaria climbs one place to place 54 in the 2012 World Competitiveness Ranking of the Lausanne-based Institute for Management Development (IMD).

The IMD World Competitiveness Center released Thursday its 24th annual report assessing the competitiveness of 59 economies on the basis of 329 criteria (two-thirds of which are composed from statistical indicators and one third from the perceptions of opinion leaders).

The ranking measures how well countries manage their economic and human resources to increase their prosperity.

In the 2012 edition of the ranking, Bulgaria is preceded by Romania, which drops three places to place 53, while Greece is at place 58, the one but last place.

In the 2012 edition of the World Competitiveness Yearbook, Hong Kong and the US take the top spots, leaving countries like Germany, France and the UK far behind.

Hong Kong remains the most competitive nation in the world, while the US, which was on a par with Hong Kong last year, recedes to second place, according to IMD data.

Despite dropping one position in the ranking, the US remains at the center of world competitiveness due to its "unique economic power, the dynamism of its enterprises, and its capacity for innovation," the authors of the report say.

Switzerland moves up two places to take third place out of a total of 59 countries.

Germany also moves up one spot to ninth position, while the UK moves forward from place 20 to place 18.

France retains its 29th place from last year, preceded by Chile and followed by Thailand.

Despite dropping one position in the ranking, the US remains at the center of world competitiveness due to its "unique economic power, the dynamism of its enterprises, and its capacity for innovation," the authors of the report say.

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Tags: ranking, Competitiveness, World Competitiveness Ranking
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