The Most Globalized Nation of the Western World

Ireland has been named the most globalized nation in the western hemisphere.
Ireland has been named the most globalized nation in the western hemisphere.

By Irish America Staff
April / May 2013

Ireland has been ranked as the most globalized nation in the West and the world’s third most globalized economy in terms of GDP according to the annual globalization index published by accounting giant Ernst and Young.

A collaboration between Ernst and Young and the Economic Intelligence Unit, the index examines 60 countries – specifically, their integration into the global economy. Variables considered include “a country’s openness to trade, movement of capital, exchange of technology and ideas, labor movements, and cultural integration.”

This may come as no surprise given the great number of Internet and corporate giants, including Google and Apple, that have established their European headquarters in Ireland in recent years, but Ernst and Young has consistently ranked Ireland among the top three most globalized nations every year since 1995. In fact, 2012 saw Ireland fall one place behind its 2011 ranking.
Hong Kong (which held first place for the third consecutive year) and Singapore placed ahead of Ireland, which surpassed close contenders Belgium, Switzerland, the Netherlands, Sweden and Denmark. The United States ranked twenty-fifth.

Ireland’s high ranking was attributed to the country’s high performance in the areas of movement of capital and finance, and cultural integration, and to its disproportionately high level of foreign direct investment. Ernst and Young forecasted that Ireland will maintain its overall ranking until at least 2015, due to continued projected growth in trade and capital – good news as Ireland continues to rebuild its economy.

Leave a Reply




Share



More Articles

Referendum to be Held on Abortion

For the first time ever, a referendum will be held on whether Ireland’s constitutional ban on abortion, which puts...

More

Kurdish Refugee’s Croke Park Debut

History was made in Dublin’s Croke Park during the Lory Meagher Cup final in June, when the Leitrim senior hurling...

More

Record-Breaking Year for Irish Tourism

For the first time since figures have been recorded, more than one million North Americans visited Ireland in 2016. The...

More

Bank of America, and a Dozen Others, Eye Dublin for E.U. Headquarters

Bank of America Merrill Lynch is just one of the many international institutions emigrating from London to Dublin in...

More