For the second year in a row BCCI is partnering with the Institute for Management Development – Switzerland

The Bulgarian Chamber of Commerce and Industry continues its successful partnership with the Institute for Management Development (IMD) - Switzerland on the IMD World Competitiveness Yearbook for 2022. This year, the Chamber will be directly involved through the preparation and conducting of the survey on the territory of the country and the selection of companies and organizations.

The IMD World Competitiveness Ranking annually ranks the economies of 65 countries around the world and analyzes the capacity of countries to create and maintain an environment that supports the competitiveness of enterprises. The study assesses each country’s readiness for its prosperity.

The World Competitiveness Yearbook has been published by IMD since 1989 and is based on 30 years of research experience. The Competitiveness Ranking is based on over 330 criteria. Some of them (2/3) are formed on the basis of quantitative data from international and national statistics, while others (1/3) are based on qualitative data from surveys studying the opinions of business leaders.

Out of 195 countries worldwide, only 65 are included in the study of the Swiss Institute, and to our satisfaction Bulgaria is one of them. Unfortunately, the results for 2021 ranked Bulgaria 53^rd out of 65 countries. The country showed a decline of five positions compared to 2020, as in the previous few years. According to the IMD report, the main challenges facing Bulgaria in 2021 were related to political instability, low vaccination rates against COVID-19, limited implementation of e-government solutions, high energy costs for business, lagging quality of university education, accompanied by low R&D costs, and a persistent problem with corruption.

The IMD World Competitiveness Yearbook and the ranking of the 65 economies included in it for 2022 is expected to be published in the middle of the year.