The report said that Bulgaria is an Eastern European star, moving nine positions up in the ranking from 21st position in 2006, Pari daily reported.
Romania moved down in the ranking from 22nd to 29th place. India, Russia and China hold the top positions.
ATKearney's report examined the risk, market attractiveness and saturation and time pressure in the countries. Bulgaria's average result is 63 points compared to 50 points for Romania. China leads the ranking with 92 points.
The report said that people willing to invest in retail in Bulgaria, especially in food chains, should be very careful. The market is small and people are not that well-off, the report said.
The report also referred to the recent withdrawal of Turkey's Ramstore and Greek Ena food chains from Bulgarian market due to unsatisfactory results.