Bulgaria is in 56th place in the World Competitiveness Yearbook 2014 results, compiled by the Lausanne-based IMD World Competitiveness Centre, a leading business school.
For Bulgaria, this is a move one place higher than in 2013. Two other European Union member states ranked lower, Greece at 57th place, dropping from 54th in 2013, and Croatia in 58th, up from 59th in 2013.
The IMD competitiveness rankings are based on four factors: economic performance, government efficiency, business efficiency and infrastructure. The report says there is no relationship between democracy and competitiveness, though the likelihood of a good government is higher in a democracy.
Top-ranked in the list is the United States, with Switzerland second and Singapore third.
The highest-ranked EU member state is Sweden, in fifth place, followed by Germany, in sixth.
Among the BRIC countries, highest was China (23rd place), followed by Russia (38), India (44), South Africa (52) and Brazil (54). South Africa is the only African country in the 60 on the list.
“The overall competitiveness story for 2014 is one of continued success in the US, partial recovery in Europe, and struggles for some large emerging markets,” IMD said.
The Voice of America said that the report finds Europe is doing better than last year, thanks to its gradual economic recovery, but most of the big emerging markets are sliding in the rankings. It says the so-called BRIC countries – Brazil, Russia, India and China – are losing out in the competitiveness race as economic growth and foreign investment slow and infrastructure remains inadequate.
Russia has moved up four places from last year’s ranking to number 38. Ukraine remains steady in 49th position. However, IMD chief Arturo Bris notes this year’s rankings are based on data collected before the current destabilizing events in Ukraine erupted, VOA said.
(Photo: Marco Michelini/sxc.hu)