The Republic of Ireland still ranks among the world’s most competitive economies but has dropped out of the top 10 nations. The survey of 63 countries, compiled by the IMD business school in Lausanne, Switzerland, puts the State in 12th place overall, down from 7th a year ago. Each country’s ranking is based on an analysis of more than 235 indicators derived from four main factors: economic performance, government efficiency, business efficiency and infrastructure. Singapore remain in first place overall after leapfrogging the US and Hong Kong last year. It had generally been steadily rising in the rankings in the years since, coming in sixth in 2017, before slipping to 12th place in 2018 due to Brexit.

Source: The Irish Times June 16, 2020 10:07 UTC