Welcome improvement in Competitiveness Rank but Challenges Remain
- Ireland’s competitiveness ranking as benchmarked by the IMD has improved from 7th to 6th most competitive economy in the world. Ireland is the 2nd most competitive economy in the Euro area.
- This is Ireland’s strongest performance since 2000. Over the last 5 years Ireland has had significant improvements in the 4 rankings related to economic performance, business efficiency, government efficiency and infrastructure
- The IMD Report underlines the importance of maintaining competitiveness in the context of intense competition internationally for exports, mobile investment and talent. It is also a timely reminder about the need to implement continuously policies to improve our performance further in light of significant challenges such as Brexit, exchange rate movements and uncertain global growth.