The Brookings Institute has released its Global MetroMonitor 2011 that tracks the economic performance of 200 cities across the globe. Dublin is the only Irish city to feature in the study. It is presently ranked 198th globally in terms of its key economic trends. Between 1993-2007 it was ranked 12th in the world. It is the city that has dropped off the edge of an economic cliff by Brookings measure (which uses a mix of GDP, GVA, employment, income and population to assess economic performance with respect to two key indicators: annualized growth rate of real income (GDP per capita); and annualized growth rate of employment). These two indicators, Brookings argue, ‘reflect the importance that people and policymakers attach to achieving rising incomes and standards of living, and generating widespread labor market opportunity (employment)’. Interestingly, Dublin still scores highly on income (ranked 14th), but it is shrinkage in income and rising unemployment that pushes it down the rankings, with it ‘greatly underperforming on its long term trend’ being in ‘full-recession’, though this is partially explained by Dublin being characterised as a ‘bubble region’ in the period 1993-2007.
Brookings provide an interesting interactive map – click on below image to link to it.
A more detailed profile of Dublin can be found here that outlines the principle changes in with a summary chart below.