Ireland has risen four places to 20th in the annual world competitiveness rankings produced by Swiss business school IMD.

 More than 4,000 executives are surveyed as part of these rankings which list 329 separate categories on which each country is ranked.

IDA this morning celebrating the fact that Ireland was ranked first in the world in the category of availability of skilled labour.

 Also ranked first for flexibility and adaptability of workforce. Ireland also top for "investment incentives" something which one imagines will be scrutinised very closely by some of our EU peers.

What will probably concern the IDA somewhat is that Singapore and Israel, two of the main countries we would compete against for attracting inward investment, are ranked 4th and 18th respectively. The UK also comes in one place ahead of Ireland in 19th.

Ireland ranks first in the world for availability of skilled labour, first for flexibility and adaptability of workforce, first for investment incentives and first for attitudes towards globalisation.

In other areas the country ranks second for business legislation - openness to foreign investors and fourth for the corporate tax rate on profit and real corporate taxes.

Another survey, the 2012 Talent Shortage Survey ranked Ireland as the global leader for the availability of skills and the least difficult location, globally in which to fill talent.

Barry O'Leary, CEO of IDA Ireland welcomed the findings saying that "the fact that Ireland continues to lead the way in availability of skilled labour adds significantly to our reputation as a host for FDI and the outlook for maintaining this position in the future remains positive."

rte.ie