Ireland rises to 6th most competitive country globally1 June 2017
IMD has announced the findings of its annual World Competitiveness Yearbook. The 2017 Yearbook rankings show Ireland increasing its overall global competitiveness to 6th place.
Ireland also achieved high ranking positions in a number of important sub categories:
- 1st for Investment Incentives
- 1st for Labour Productivity
- 1st for Flexibility and adaptability
- 1st for National Culture
- 1st for Attracting and retaining talent
- 1st for Attitudes towards globalisation
Commenting on the IMD Global Yearbook ranking, Pat Lardner, Chief Executive at Irish Funds, said:
“Ireland’s rise to 6th place in global competitiveness, as well as 1st in other key rankings reflects the consistent and continuing attractiveness of Ireland on a global scale. Ireland is now home to 5% of world-wide investment funds assets, making it the third largest global centre and the second largest in Europe. We provide a full range of solutions, enable full market access to the EU and have an approach to doing business which emphasises flexibility and strong execution. We continue to work closely with the Irish government, the Central Bank of Ireland and the wider funds community to continue to develop a location which is highly competitive and whose regulated funds offering is one of the most compelling globally.”
The IMD World Competitiveness Center, a research group at IMD business school in Switzerland, has published the rankings every year since 1989. It compiles them using 260 indicators, about two thirds of which come from ‘hard’ data such as national employment and trade statistics; and a third from more than 6,250 responses to an Executive Opinion Survey that measures the business perception of issues such as corruption, environmental concerns and quality of life. This year 63 countries were ranked.