‘Forbes’: Ireland is best place for business

Despite recent economic turmoil, Ireland has been named as the world’s “Best Country for Business” by Forbes magazine.

In awarding Ireland top spot the international magazine acknowledged the economy here had been “devastated by the Great Recession” which had seen the bursting of the housing bubble and the international bailout.

“Yet despite these economic troubles, Ireland still maintains an extremely pro-business environment that has attracted investments by some of the world’s biggest companies over the past decade,” the magazine wrote.

“Ireland scores well across the board when measuring business friendliness. It ranks near the very top for low-tax burden, investor protection and personal freedom.”

Ireland was sixth last year and the magazine said “a stockmarket that has been on fire” had contributed to its improved position.

The US came 14th.