Analyze the resources and capabilities of the two labor markets of Ireland and Singapore and which place to locate my pharmaceutical company. Comparing their manufacturing labor cost, manufacturing labor skill, engineering and managerial rates. Also would like to understand the educational institution resource pool, as well as cultural compatibility to US company.
Comparison of wages in Ireland and Singapore:
According to the Central Statistical Office in Ireland the average labor cost in Ireland in 2005 was Euros 519.5. This is average labor cost across genders.
In terms of US dollars it is $ 685.50 per week.
According to the Ministry of Manpower Singapore the average labor cost in Singapore in 2005 was Singapore $3,444 per month or Singapore $ 861 per week.
In terms of US dollars it is $561.35 per week.
There is an unemployed workforce of 91.4 thousand that is skilled and educated. Your pharmaceutical company can tap into this large workforce. There is already a workforce of 288.5 million in the production sector. http://www.cso.ie
The quality of Irish labor stems from the quality of life in the world, it is improving. The economy is growing, if your personnel travel to that country it is safe, cheap and there is economic growth. Industrial growth is very quick and now accounts for almost 40 percent of the GDP.
The level of unemployment is low, it is pegged at 6 percent and since the economy of Ireland is influenced to an extent by the British economy, however, the Irish government has taken measures to curb inflation. In addition, the Irish labor is technologically advanced. The Irish labor is such that it is suitable for high-technology development, has social influences that favor technological change and has a sense of entrepreneurial spirit. The Irish labor has one of the strongest national ...
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