January 24, 2018

Ireland ranked the 8th best-performing advanced economy in the world.

A new index from the World Economic Forum has ranked Ireland the 8th best-performing economy, demonstrating solid performance in Growth and Development and Intergenerational Equity and Sustainability.

WEF

The finding is from the World Economic Forum (WEF), which kicked off in the Swiss town of Davos this week.

The Inclusive Development Index (IDI), an annual assessment of 103 countries' economic performance, measures how countries perform on eleven dimensions of economic progress in addition to GDP. It is based on a measure from the WEF and looks beyond economic growth data to examine living standards, environmental sustainability and protection of future generations from indebtedness.

Ireland's new ranking of 8th position marks an improvement on their previous position of 12th place. The UK came in 22nd and the US 23rd, with Italy, Portugal and Greece taking the bottom three slots on the list.

Some of this year's attendees at the WEF included US president Donald Trump, Taoiseach Leo Varadkar and Minister for Finance Paschal Donohoe.

Read the full report here: The Inclusive Development Index 2018