Competitiveness is a complex concept and composite indicators can be a useful tool to assess Ireland’s relative strengths and weaknesses compared to international peers. Over the past 20 years, the NCPC’s Competitiveness Scorecard has drawn primarily on the three most influential annual international competitiveness indicators reports, namely, those of the Institute for Management Development (IMD), the World Economic Forum (WEF), and the World Bank (WB). In light of recent changes to data availability and methodological reviews, the NCPC Secretariat undertook a review of potential additional benchmark data sources to allow the Council to avail of a broader array of indicators.

In this Bulletin, the Council’s Secretariat reports on Ireland’s position in relation to the three traditional sets of indicators used, and the additional sources the NCPC will draw on to compile the NCPC Scorecard planned for 2023.  The Council notes that it must ensure that the indicators used in benchmarking Ireland’s performance remain relevant, are broad enough to reflect changing priorities, and allow us to identify areas for improved performance as a small, advanced economy.

The NCPC Bulletin can be accessed here.

The accompanying Press Release can be accessed here.