BCCI is a partner of IMD World Competitiveness Center

The Bulgarian Chamber of Commerce and Industry proudly announces its first ever partnership with the Institute for Management Development (IMD World Competitiveness Center), Switzerland, through its participation in the publishing of the 2021 IMD World Competitiveness Yearbook. The Chamber directly participated in the overall surveying of Bulgaria by selecting companies and organizations. The IMD World Competitiveness Ranking annually ranks the economies of 64 countries worldwide, based on more than 330 criteria: official statistics (2/3) and data from a survey conducted among business leaders (1/3). The published data are an assessment of the capacity of the parties to create and maintain an environment that supports the competitiveness of enterprises.

This year’s results have placed Bulgaria at 53^rd place out of a total of 64 countries. Bulgaria’s overall performance has shown its decline by five positions over the course of five years. This is greatly due to the following challenges faced during the year 2021 such as: political instability resulting in a slow rate of COVID-19 vaccinations, a limited diffusion of e-government solutions, slow energy transition and high energy costs for businesses, a lagging quality of university education and low spending on R&D, and a persistent issue of corruption in governance. In contrast, the country has ranked notably high in the subcategories for Economic Performance and Government Efficiency, with a significant ranking of 8^th place in Prices, and 18^th in Tax Policy. Bulgaria’s lowest score in the subcategories can be found under the criteria for Business Efficiency, where it has been ranked in 61^st place for both Labour Market and Management Practices.

The Institute for Management Development (IMD) is a Swiss-based independent academic institution founded 75 years ago. For a consecutive nine years, it has been ranked in the Top 3 of the annual FT’s Executive Education Global Ranking. Its driving purpose is to develop leaders willing to revolutionize organizations and contribute to society.

To receive more detailed information about the IMD Yearbook and Bulgaria’s overall performance, click HERE.

To directly order the IMD World Competitiveness Yearbook 2021  HERE