Romania is 52nd among the 109 countries included in the latest Global Talent Competitiveness Index (GTCI), which ranks the economies based on their ability to develop, attract, and retain talent. The index, which was first launched in 2013, is based on research conducted by INSEAD.

Romania thus came almost midway in the 2015-16 ranking, with a score of 45.18, gaining 12 positions on the 2014 report, which ranked the country 64th in the world.

In the regional ranking, which includes countries in Europe, Romania is at number 33, after other countries in the region, such as Bulgaria, Serbia, Montenegro, and Macedonia.

Romania’s neighboring country Bulgaria ranks 44th in the overall classification, with a score of 48.73, and 28th in the regional one. Hungary is also better ranked than Romania, 31st place in the overall ranking and 21st in the regional one, while Serbia is 50th overall and 32nd in Europe.

Among European countries, Romania only ranks better than Moldova, Russia, Ukraine, Bosnia and Herzegovina, and Albania.

Romania ranks 30th in the world when it comes to developing and maintaining people with mid-level skills, labelled Labour and Vocational skills (or LV skills). This term describes the skills that have a technical or professional base acquired through vocational or professional training and experience.

When it comes to developing and keeping people with high-level skills, labelled Global Knowledge skills (or GK skills), Romania is at number 57. The GK skills are associated with knowledge workers in professional, managerial or leadership roles that require creativity and problem solving.

The top three countries ranked on talent competitiveness are Switzerland at number one, followed by Singapore and Luxembourg on the second and third places, respectively.

Switzerland also ranks first in the regional ranking (Europe), followed by Luxembourg, Denmark, Sweden, and the UK.

This year's GTCI country coverage has improved, as the report covers 109 countries, up from 93 countries in 2014. This year's edition of the study was launched at the World Economic Forum in Davos, on January 19. Find the entire index here.

Romania ranks fifth among countries with most widespread talent shortages

Irina Popescu, irina.popescu@romania-insider.com