Ireland has ranked fourth in a global report for recruitment professionals on the most attractive staffing markets around the world.
The report, which assessed 62 markets across six continents, was produced by Staffing Industry Analysts (SIA) and provides comparative insights as to the strengths and weaknesses of countries, in terms of a location for business, particularly in the context of the labour market for recruitment organisations.
The most attractive markets globally were India and Malaysia, followed by China and Ireland, in fourth place.
Ireland topped the European ranking of the 29 countries assessed, with Germany, Norway, the United Kingdom and Denmark completing the top five in the European business rankings.
Different factors were assessed in the global analysis, including the business environment, global trade, prospects of GDP growth, ease of doing business, access to skilled talent, market regulatory affairs and political stability.
This year's methodology also incorporated an assessment of the countries’ resilience to the Covid-19 crisis and the deployment of appropriate responses to contain pandemic impacts.
Donal O’Donoghue, President of Ireland’s National Recruitment Federation (NRF), said recruitment activity often mirrors the economic, regulatory and political status of countries and regions.
"Employers like to operate where they have access to a productive, well-educated labour market and a business environment with growth prospects.
"Recruitment organisations here see this in the extent to which multi-nationals seek out bases in Ireland, largely reflecting the high calibre of talent in this marketplace," he said.
Ireland’s position as the only native English-speaking country, currently a member of the European Union, also enhances the attractiveness of this market, Donal O’Donoghue said, adding that recent major jobs announcements from the likes of Intel, Stripe and Diligent support Ireland’s position as a competitive knowledge-based economy.
European countries largely ranked in the top tier of the SIA report, based on economic growth prospects, the markets being relatively easy to operate in, and the regulatory environment being favourable.
The most attractive staffing markets in the Americas were Canada and the United States, with Chile and Peru ranked next and Canada featuring fifth on the overall global list.
The least attractive global markets identified by the Staffing Industry Analysts report were Algeria, Nigeria, Egypt and Kuwait, with the lower-ranked countries tending to score less favourably on GDP growth, ease of doing business and political stability.