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Ireland up to 15th (beating the UK) in world competitiveness charts

IDA Ireland has welcomed the two place improvement, which leaves us just ahead of the UK.

Image: Shutterstock

IRELAND HAS CLIMBED two places to 15th in the latest global survey of competitiveness released by IMD this morning.

Welcoming the news, IDA Ireland chief executive Barry O’Leary said that the ranking was “excellent news for Ireland’s foreign direct investment proposition”.

Ireland in recent years has regained valuable competitiveness, while continuing to offer a strong skills base to prospective companies looking to invest here.

Ireland’s ranking of 15th is one ahead of our nearest neighbours in the UK, and just behind The Netherlands.

The top ranked country is the United States, with Switzerland and Singapore rounding out the top three.

The bottom trio were Argentina, Croatia, and in last place, Venezuela.

Gains across the board

The IDA said that Ireland’s move up the charts, which has seen us climb nine places in the last four years, could be attributed to the top ranking the State holds in a number of sub categories.

These include top spot for the availability of skilled labour, flexibility and adaptability of workforce, attitudes to globalisation and investment incentives.

Ireland improved its ranking in all four compteitiveness factors in the survey, with the biggest jump being a nine place improvement in business efficiency, placing us in fourth.

Similar gains were seen in economic performance (up seven places to 19th), government efficiency (up three places to 14th) and infrastructure (up two places to 20th).

Is it too expensive to do business in Ireland?>

Column: Irish labour costs making us noncompetitive? Hardly.>

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About the author:

Jack Horgan-Jones

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