Bulletin 24-4 IMD World Competitiveness Rankings
The National Competitiveness and Productivity Council (NCPC) is pleased to publish Bulletin 24-4 IMD World Competitiveness Rankings which examines Ireland’s fourth place in the rankings.
This ranking demonstrates that the Irish economy remains strongly competitive. Despite a relative slowdown in the rate of economic expansion, Ireland continues to rank highly. In particular, our competitiveness position is buoyed by our performance in terms of Government and Business Efficiency. The IMD point to our strong public finances, business legislation, alongside strong management practices and positive ‘attitudes and values’ as being significant factors behind Ireland being a great place to do business.
The most critical competitiveness deficit remains Ireland’s Infrastructure performance (17th), in particular our performance under Basic Infrastructure where we rank at 38th (down from 29th in 2023). This includes management of water infrastructure, our energy infrastructure and relatively high electricity costs.
Ireland should continue to harness these strengths to compete, while seeking to address areas of weakness. The strong growth in the Irish economy over the last decade has resulted in capacity issues. Addressing long-standing infrastructural deficits and investing in energy infrastructure to allay high energy costs for businesses and households will enhance Ireland’s competitiveness position.
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