Dublin ranked best for 'human capital'

DUBLIN IS ranked 27th in a list of the most competitive cities in the world. The research, commissioned by US bank Citi, ranks London as the most competitive city in Europe and the second globally.

Analysing the characteristics of 120 cities, the research completed by the Economist Intelligence Unit measures competitiveness based on a city’s ability to attract capital, business, talent and tourists.

Dublin trails in the rankings behind Paris, which is the fourth most competitive city in the world. Zurich is also inside the top 10, while Frankfurt, Geneva, Amsterdam, Stockholm, Copenhagen and Vienna all rank higher than Dublin.

Prague, Budapest and Lisbon were among the European cities ranked lowest for competitiveness.

New York was ranked as the most competitive city in the world, with Singapore ranking third after London. Hong Kong was in joint fourth alongside Paris.

Dublin did rank top globally as having the best “human capital” in the world. Measured on the size of the city’s working-age population, the quality of education, the entrepreneurial mindset among citizens and the ease in hiring foreign nationals, Dublin came out top.

Hong Kong, Copenhagen, Paris and Geneva rounded out the top five with Tel Aviv scoring lowest on the quality of its workforce.

The report found that, despite concerns over aging infrastructure and budget deficits, US and European cities remain the world’s most competitive.

Though the impact of the financial crisis has slowed plans for urban renewal, the report found that recession has not reduced the ability of US and European cities to attract capital, businesses, talent and tourists.