Ireland continues to lead the world in attracting high-value foreign direct investment (FDI) projects, according to IBM’s 2015 Global Locations Trends report.
This is the fourth year that Ireland has been named as the top-ranking destination by quality and value of investments. It heads a list that also includes Switzerland, Sweden, Denmark, Lithuania, the Netherlands, Hong Kong, Finland, India and Germany.
“(Ireland) continues to attract investment projects in industries characterized by high knowledge intensity and economic value added, such as life sciences and information and communication technology (ICT),” the report said.
According to the report, job creation around the world through foreign investment rose 6 per cent over the past year.
The study says that after several years of subdued investment activity and gradual declines in investment since 2010, a moderate recovery was made in 2014 in both the number of projects and jobs created from FDI around the world. Overall, job creation around the world through foreign investment has risen 6 per cent over the last year.
The US remains the world’s top destination for investment, with China second and India third, the study found. Rounding out the top ten nations are Mexico, the UK, Brazil, Thailand, Vietnam, Indonesia and the Philippines. Russia dropped out of the global top 20 after experiencing substantial declines in inward investment because of the regional conflict in Ukraine and the trade and investment barriers that followed.
IDA Ireland chief executive Martin Shanahan welcomed the latest rankings.
“Ireland’s position as the top ranking destination for quality and value of investments is based on global measures of productivity, knowledge intensity and occupational profile composition represented by wages and skills, and highlights the value and exceptionally strong contribution that foreign direct investment makes towards Ireland’s economy,” he said.
“Competition for FDI projects has never been as intense. IDA Ireland will continue to target blue-chip companies and the next wave of high growth companies in the coming years and capitalise on Ireland’s position as one of the top destinations in the world for Foreign Direct Investment,” he added.