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Ireland slumps in investor confidence league

By
DONAL THORNTON,
IrishCentral.com Staff Writer

Published Monday, November 23, 2009, 9:23 AM
Updated Monday, November 23, 2009, 9:45 AM

 

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Ireland is no longer favored as one of the top 20 most attractive global countries for investment according to research carried out by business school and financial specialists Ernst & Young.

The Global Venture Capital and Private Equity Country Attractiveness Index puts Ireland in 21st position. The Irish have dropped six places from last year’s high of 16th place.

There are six main criteria that ascertain a country’s world ranking. These are economic activity, the depth of capital markets, taxation, investor protection and corporate governance, the human and social environment and entrepreneurial culture and opportunities.

"Today’s top 10 list are all countries perceived internationally on the road to economic recovery,” said John O'Halloran, transactions director at Ernst & Young.

“For example, Australia would not have a strong history as an attractive location for this type of investment however; its relative stability in the international turmoil has attracted many risk averse investors.”

The report highlights Ireland's poor access to credit and low interest in investment. This further reinforces economists’ bleak outlook on Ireland's economic future, and provides additional evidence that the recession is further deepening in Ireland.

The retail sector is on the verge of collapse and large scale emigration has meant that a "brain drain" similar to emigration from Ireland in the 1980s may reoccur.

However, according to the report, the government’s decision to strongly develop Ireland's "smart economy" has led to some hope that Ireland's economy may recover faster than expected.

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4 Comments

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Posted by kickstar on Nov 24, 2009, 01:00 AM EST
"The wild west of european finance" Well if Ireland is the wild west of European finances, What would you call a country were one individual make off with $110 Billion
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Posted by PaddyDeMucker on Nov 23, 2009, 06:20 PM EST
It doesn't help Ireland's image when the Financial Times refered to it as a 'bannana republic' or The New York Times 'the wild west of european finance'. The present and prior Irish governments, their cowboy banker and developer pals and anyone who was invited to the 'Galway Tint'have a lot to answer for. Of course in Ireland, nobody is held accountable. Of course anyone who voted for the present government especially, shares the blame. One couldn't select a dumber collection of morons if you had years to pick it.
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Posted by kickstar on Nov 23, 2009, 04:41 PM EST
For those who didn't get it before let me say this The United States is not out of this Recession/Depression and will not be in the foreseeable never mind Ireland the real crash has not even happened yet, You see there was a crash then we printed Bales of confetti money to try to hide it but this has only exacerbated the situation now we have a grossly inflated economy plus a financial melt down and when the urea hits the fan ....It will be a mess
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Posted by kickstar on Nov 23, 2009, 04:24 PM EST
What Government ???
 


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