IRELAND maintained its position as the 22nd most competitive country in 1996, according to rankings compiled by the Swiss based International Institute for Management Development (IMD).
The US and Singapore were the most competitive countries followed by Hong Kong, Japan, Denmark and Norway, according to the World Competitiveness Yearbook.
Switzerland slipped from fifth to ninth place while Germany lost its ranking at number six in 1995, falling to tenth place. Denmark and Norway moved up from seventh and tenth positions in 1995 because of the quality of their labour forces and management performance.
IMD ranks the competitiveness of different countries by analysing and assessing influences on wealth creation. Positive and negative factors in the domestic economy, the government, the infrastructure, management, finance, science and technology and people are examined.
Some 46 countries were ranked using a total of 225 different criteria.
Ireland ranks behind Germany, the UK (ranked 19th) and France (20th). The success of the US is based on having a large and resilient economy, a strong position in introducing new technology and a very flexible attitude towards work structures.
Singapore was ranked second on the basis of a "highly effective" government, a sound financial structure and a high level of participation in the global economy.
Hong Kong and Japan continue to be "plagued by uncertainties according to IMD. The 1997 deadline for its hand over to China puts Hong Kong's position in the global economy in jeopardy. Japan needs to face long term structural problems and the lack of confidence in government policy, IMD said.
Switzerland and Germany have suffered from a very expensive home base and a flat economy. Germany only scored 20th place in the management category highlighting current problems in company performance and in industrial relations.
Switzerland's low score of 19th in the internationalisation or global participation strategy category indicates a high protectionist outlook, according to IMD.
