Ireland ranked best in world to do business

Ireland ranked best in world to do business

Ireland is the best country in the world in which to do business, according to a report by leading US financial magazine Forbes.

The report praises Ireland for our low corporation tax, protection for investors and stock market performance.

Forbes says the financial crisis is seen as a good thing - highlighting falling wages and our "stubbornly high rate of unemployment" of 12.5% providing a large labour pool to hire from.

Ireland's rise to the top spot of the Forbes rankings from 6th place last year - puts us ahead of New Zealand, Hong Kong and the Scandinavian economies rounding out the top five.

The magazine praises Ireland for maintaining an "extremely pro-business environment" - noting that we're the only nation to rank among the top 15% in every one of the criteria used to gauge the best countries.

It says that our improved performance owes a lot to a stock market which they describe as being "on fire" - with the best return over the past 12 months of any of the top 30.

However, the key to Ireland's ranking is all about foreign investment - namely our 12.5% corporation tax rate, an educated workforce and common language.

It notes that US firms have invested $130bn in Ireland between 2008 and 2012 - more than the past 58 years combined.

More in this Section

600 staff temporarily laid off at Quinn Industrial Holdings due to Covid-19600 staff temporarily laid off at Quinn Industrial Holdings due to Covid-19

Crude oil trades as low as at $10 a barrel in North America amid Covid-19 crisisCrude oil trades as low as at $10 a barrel in North America amid Covid-19 crisis

Shopping centre landlord Hammerson in talks about rents with Irish retailersShopping centre landlord Hammerson in talks about rents with Irish retailers

Government costs 'worst-case' job losses of 800,000 in Covid-19 falloutGovernment costs 'worst-case' job losses of 800,000 in Covid-19 fallout


Lifestyle

Interiors voyeurism will never go out of style – not least when we’re all confined to barracks and eyeing up neglected corners of our own residences that could do with TLC.Home of the Year: Three doors swing open tonight to offer us a welcome distraction

With (hopefully) better weather on the way along with the longer evenings, gardening and nature offer a nice distraction to the news cycle.Podcast Corner: Green fingers and creature comforts

From Kaia Gerber to Oprah Winfrey, why not let a famous face choose your next read?The 4 best celebrity book clubs to virtually join

The tips and home treatments to stop your skin from backsliding.The Skin Nerd: How can I maintain my skin results at home?

More From The Irish Examiner