Ireland’s competitiveness as a location for Foreign Direct Investment increases with top rankings in three international surveys
Published: 31 May 2012 - Heather Ramsden
The IMD World Competitiveness Yearbook 2012 ranks Ireland very favourably in a number of key areas important for Foreign Direct Investment.
The influential data, 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 pinpoint 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
In a further boost to Ireland’s competitiveness as a location for FDI this week the2012 Talent Shortage Survey, published by the Manpower Group, ranked Ireland as the global leader for the availability of skills and the least difficult location, globally, in which to fill talent.
In addition to these surveys the latest International Construction Intelligence report, issued by Faithful and Gould, shows 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).
Welcoming the results of the surveys, Barry O’Leary, CEO of IDA Ireland says: "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."
"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. For example, 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 40 per cent increase in the last four years, with the first of these additional students, at honours degree level, coming into the employment market this summer."
"IDA Ireland in its strategy Horizon 2020, identifies 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."