Competitiveness ranking unchanged

IRELAND’S competitiveness ranking globally has held unchanged at 22nd, according to the latest Global Competitiveness Index compiled by the World Economic Forum.

The index assesses each economy across 12 key measures of productivity and competitiveness.

Our ranking at 49 in terms on infrastructure pointed to mountains still to be climbed.

The United States topped the rankings followed by Switzerland, with Denmark third place.

Britain moved up one place to ninth, while China and Russia also moved up the latest ratings. Among EU countries, Ireland was 11th.

Our ranking on the Business Competitiveness Index declined two positions to 24th.

That index focuses on the sustainability of competitiveness and includes issues such as the quality of the national business environment where Ireland dropped one place to 24th.

“The fall in the BCI index by two places was far more serious for Ireland, than our low position on infrastructure, because it is regarded as where the economy is heading,” said Dr Eleanor Doyle, lecturer in economics at University College Cork.

“The BCI findings should be a wake up call for Ireland Inc.”

Other factors impacting on Ireland’s competitiveness were inflation, inefficient Government bureaucracy, restrictive labour regulations and the “poor work ethic of the national labour force”.