Ireland to be 5th biggest location of foreign investment

Ard-Taoiseach

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My Economist has just been published on the wonderful interweb. And contained within is a chart of the estimated FDI(Foreign Direct Investment) in-flows out to 2011.

Out of the rich-world economies, Ireland comes 4th, and in the wider world, Ireland ranks 5th(with catch-up Jordan in 4th)

We're way ahead of those Nordics who are supposed to be beating us in WEF and IMD competitiveness stakes. Singapore is the only economy which really seems to be out-classing us, and we're supposed to be losing our lustre as an attractive location?

The chart(if you have an Economist.com subscription) can be seen here.
 


Akrasia

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the difference is the nordics have their own economy, they're not just one big wholesalers and 'financial services ~wink wink nudge nudge~ sector.
 

Ard-Taoiseach

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Hmmm, I'm interested that this hasn't provoked comment. Not even a naysayer rubbishing it.

Edit: there we go, we have a naysayer posting! Let the games begin!
 

CookieMonster

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We're not in bad shape at all, it's just the scaremongering about house construction outshadows everything else in this country.
 

Jim236

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We're way ahead of those Nordics who are supposed to be beating us in WEF and IMD competitiveness stakes. Singapore is the only economy which really seems to be out-classing us, and we're supposed to be losing our lustre as an attractive location?
As well as that, CNN were talking about the most productive countries in the world the other night and America ranked first, followed by Ireland. This goes against everything we've been hearing in that Ireland has one of the worst productivity rates now among European countries. Tbh I think its just a case of dozens of companies have now reached the end of their tax-free incentives and want to move on to other countries to get a similar deal, and are using poor productivity as an excuse to leave.
 

Ard-Taoiseach

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CookieMonster said:
We're not in bad shape at all, it's just the scaremongering about house construction outshadows everything else in this country.
Yes, the housing sector is just reacting to a reduction in monetary stimulus. However, the wider economy is strong and we continue to attract investment. This will drive our GDP growth rates well above the European average.
 

Ard-Taoiseach

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Jim236 said:
We're way ahead of those Nordics who are supposed to be beating us in WEF and IMD competitiveness stakes. Singapore is the only economy which really seems to be out-classing us, and we're supposed to be losing our lustre as an attractive location?
As well as that, CNN were talking about the most productive countries in the world the other night and America ranked first, followed by Ireland. This goes against everything we've been hearing in that Ireland has one of the worst productivity rates now among European countries. Tbh I think its just a case of dozens of companies have now reached the end of their tax-free incentives and want to move on to other countries to get a similar deal, and are using poor productivity as an excuse to leave.
Thanks for the commentary Jim236. I think that CNN report was informed by an ILO survey published in the last fortnight.
 

neoliberal

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As far as I can see, the only thing that could be damaging in the short run is higher labour costs, brought on by (i) inflationary pressures (ii) (to a lesser degree) our highly efficent workers recognising they are highly efficent :D
 

Ard-Taoiseach

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neoliberal said:
As far as I can see, the only thing that could be damaging in the short run is higher labour costs, brought on by (i) inflationary pressures (ii) (to a lesser degree) our highly efficent workers recognising they are highly efficent :D
And asking for highly efficient pay rises, in a highly efficent manner? :D

W :D :D :D H :D :D :D !!! 600th post!
 

Ard-Taoiseach

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I suppose this is the verdict that international investors are passing on us. We seem to have been exonerated on all counts. Another reason to look on the bright side.
 

Papinian

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Ard-Taoiseach said:
My Economist has just been published on the wonderful interweb. And contained within is a chart of the estimated FDI(Foreign Direct Investment) in-flows out to 2011.

Out of the rich-world economies, Ireland comes 4th, and in the wider world, Ireland ranks 5th(with catch-up Jordan in 4th)

We're way ahead of those Nordics who are supposed to be beating us in WEF and IMD competitiveness stakes. Singapore is the only economy which really seems to be out-classing us, and we're supposed to be losing our lustre as an attractive location?

The chart(if you have an Economist.com subscription) can be seen here.
I saw this chart on Thursday night. Ireland is not to be the 5th biggest location of foreign investment. It's to receive the 5th biggest share of foreign investment as a percentage of GDP, which is something quite different.

The chart shows Jordan ahead of us (possibly because it's got a low GDP which bumps it up) but also Belgium. Belgium ranks highly for many of the same reasons Ireland ranks highly - a small economy closely integrated (and becoming more integrated) with its immediate neighbours (N.I. and G.B. in the case of Ireland; France and The Netherlands in the case of Belgium).

And of course, this is all forecast - who's making up the numbers and what are they using as a basis.

Frankly, the chart says nothing about Ireland's competitive position but the reaction on this thread says that a few decent lessons in using economic statistics wouldn't go amiss in Ireland's education system.
 

Owen Rooney

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Akrasia said:
the difference is the nordics have their own economy, they're not just one big wholesalers and 'financial services ~wink wink nudge nudge~ sector.
Yes, and I'm sure once we strike massive amounts of oil we can have our 'own economy' too.

Papinian said:
And of course, this is all forecast - who's making up the numbers and what are they using as a basis.
The numbers come from the Economist Intelligence Unit. Here's their 'Methodology Brochure'. It's a bit of an advert for the service itself, but goes over the basic points. In terms of this actual statistic, I believe it weighs heavily on surveys of directors of medium and large businesses worldwide, to guage where they intend to invest over the next 4 years.

Frankly, the chart says nothing about Ireland's competitive position but the reaction on this thread says that a few decent lessons in using economic statistics wouldn't go amiss in Ireland's education system.
Actually, it says quite a bit. In Ireland there's constant worrying about our global competitiveness, but outside of the country we're still seen as one of the best places to do business, and that's what counts. We certainly shouldn't be complacent, but we're still in a very good position in international terms.

I do agree with you on the education thing, though.
 
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The most important thing to understanding and interpreting the table is the line

"As % of GDP, ....................."

To claim that Ireland is the 5th biggest location for fdi is interpreting the figures incorrectly.
 
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Ah, so this is a speculative, or what you might call an intentional, study. Maybe it's not completely pointless, but like this thread, it's close. Between Vietnam and Jordan? Yeah, whatever.
 

Ard-Taoiseach

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Shankill Browser said:
The most important thing to understanding and interpreting the table is the line

"As % of GDP, ....................."

To claim that Ireland is the 5th biggest location for fdi is interpreting the figures incorrectly.
I understand that, Shankill Browser, and I would have included it in my subject title.

However, the masters of P.ie do not allow sufficient characters in the title line for me to type that heading. I had to cut out some detail to make it fit.
 
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Ard-Taoiseach said:
However, the masters of P.ie do not allow sufficient characters in the title line for me to type that heading. I had to cut out some detail to make it fit.
Ah, I didn't know that. ;)
 

Ard-Taoiseach

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Shankill Browser said:
[quote="Ard-Taoiseach":8t8lteng]However, the masters of P.ie do not allow sufficient characters in the title line for me to type that heading. I had to cut out some detail to make it fit.
Ah, I didn't know that. ;)[/quote:8t8lteng]

Glad to clarify ;) , even having allowed for the fact that it is expressed as a percentage of GDP, 6-7% of said quantity over an extended four year period will, again, lift the National Accounts by a decent margin.
 

TommyO'Brien

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Yes, the housing sector is just reacting to a reduction in monetary stimulus. However, the wider economy is strong and we continue to attract investment. This will drive our GDP growth rates well above the European average.
One of those 'Oops. I shouldn't have said that' moment.
 


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