![Ireland falls to 4th in global competitiveness rankings 1 00151db9 800](https://img.rasset.ie/00151db9-800.jpg)
Ireland has experienced a drop in international competitiveness, falling two places from last year according to the Institute of Management Development (IMD) World Competitiveness Yearbook 2024. Despite this, Ireland remains the most competitive country in the eurozone and has placed in the top five economies overall for the second year in a row.
The National Competitiveness and Productivity Council (NCPC) attributes the drop to a decline in economic performance, particularly in Gross Domestic Product. While Ireland’s Business Efficiency ranking remains stable and infrastructure ranking has improved, government efficiency has seen a slight decrease.
The NCPC points out that Ireland’s position in the rankings highlights the country’s continued competitiveness, especially compared to other small, advanced economies. However, improvements are still needed in areas such as infrastructure and tax policy.
Overall, Singapore has topped the competitiveness rankings this year, followed by Switzerland and Denmark. The rankings are based on various indicators across four pillars.