Ireland has topped the world in a number of key competitiveness milestones, according to top-ranked Switzerland-based business school IMD, including for the availability of skilled labour, flexibility of its workforce, investment incentives and attitudes to globalisation.
IDA Ireland has welcomed the news that the IMD World Competitiveness Yearbook 2012 has ranked Ireland very favourably in a number of key areas important for foreign direct investment.
The IMD data, which is used by global companies, location consultants and professional firms, highlights that Ireland possesses an extensive pool of highly skilled graduates available to a range of industries, among them ICT, life sciences, financial services and digital media.
Executives in the survey pinpointed Ireland’s skill base as a key attraction of the country as an inward investment location.
The survey ranks Ireland:
- 1st for availability of skilled labour
- 1st for flexibility and adaptability of workforce
- 1st for investment incentives
- 1st for attitudes towards globalisation
- 2nd for business legislation- openness to foreign investors
- 2nd for large corporations that are efficient by international standards
- 2nd for adaptability of companies
- 4th for Corporate Tax rate on profit and real corporate taxes
Global leader for availability of skills – Ireland
In addition to the IMD report, Ireland got a further boost in relation to its competitiveness as a location for FDI at the end of May.
The 2012 Talent Shortage Survey, which was published by the Manpower Group, ranked Ireland as the global leader for the availability of skills. It also ranked Ireland as the least difficult location, globally, in which to fill talent.
Plus, the latest International Construction Intelligence report, which was issued by Faithful and Gould, revealed that the index construction cost in Ireland, at 91.3, is less than Singapore (94.8), US/Chicago (100), UK (109.5) and Switzerland (155.2).
Skilled labour and Ireland
IDA Ireland CEO Barry O’Leary welcomed the results of the three surveys.
“Competition for foreign direct investment is significantly increasing and the availability of skilled labour is, amongst other things, one of the main deciding factors when companies are choosing a location for their overseas investments,” he said.
“The fact that Ireland continues to lead the way in availability of skilled labour adds significantly to our reputation as a host for FDI and the outlook for maintaining this position in the future remains positive,” explained O’Leary.
Investor attraction
For instance, he said that the greater availability of computer and software personnel will be a key feature for investors in Ireland over the coming years.
“This is due to the increase in the numbers enrolling in computer, software courses and conversion courses in universities and institutes of technology across the country. Uptake of undergraduate computer courses has experienced a 40pc increase in the last four years, with the first of these additional students, at honours degree level, coming into the employment market this summer,” said O’Leary.
He said that IDA Ireland, in its Horizon 2020 strategy, has identified the strengthening of Ireland’s value proposition as one of its main targets.
“The excellent rankings of Ireland in these surveys shows that the country’s value proposition as a location for FDI is constantly improving,” added O’Leary.
This article was originally published on www.idaireland.com and can be found at: http://www.idaireland.com/news-media/press-releases/ida-welcomes-2012-imd-wor/index.xml
