16 Oct 2023
The Economist places Ireland number 1 of 27 European nations in economic study
Ireland has taken first place in the Economist’s latest rankings for economic potential and resilience, placing the nation top of 27 European Nations in another ringing endorsement for international investment. The respected media giant ranked all 27 EU countries under five criteria for its European economic pentathlon, the five criteria being:
Demand
Demography
Debt
Decarbonisation
Decoupling
Ireland finished with a remarkable four golds and one silver, placing ahead of every other EU nation large or small. The findings are an endorsement of Ireland’s ability to thrive during any economic downturn, and to captalise on growing markets. Ireland’s economy is set for EU leading growth in 2023.
Cork has long been attractive to Foreign Direct Investment on the back of its availability of skilled labour and business friendly ecosystem. In recent years the county has reacted swiftly to changing business demands, with remote hubs, competitive business and personal rates and rents, and a growing focus on culture and placemaking to aid talent retention.
The study findings gave Ireland a gold in the demography category, the nation higher placed than any other country in terms of its availability of youth workforce. Cork’s 10000 annual STEM cell graduates give investors confidence in the availability of talent, with several other factors positively influencing potential relocators to choose Cork.
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