MENU Ireland's Economy The Irish economy is the fastest growing in the Eurozone. The Irish Government is committed to sustainable management of public finances and Ireland receives an ‘A’ grade from all major credit rating agencies. OUTLOOK IRELAND IS A STABLE, COMPETITIVE, SECURE AND PRO-BUSINESS COUNTRY IRELAND IS A COMMITTED MEMBER OF THE EU SINGLE MARKET AND THE EUROZONE IRELAND HAS A HIGHLY SKILLED, EDUCATED, YOUNG AND MULTICULTURAL POPULATION Ireland's EU Membership Ireland is a committed member of the EU Single Market and the Eurozone and there is strong public support for Ireland's EU membership 88% believe that Ireland has benefitted from EU membership 83% are positive about EU Membership Eurobarometer March 2019/August 2019 Impact of FDI (Foreign Direct Investment) on the Irish Economy IDA Ireland’s client companies continue to have a hugely positive effect on the Irish economy with over eight jobs being created for every 10 jobs in an FDI company. Multinational Companies (MNCs) invest directly into the Irish economy approx. €19.2bn including expenditure on Irish materials and services totalling €7.5bn, and an annual payroll spend of €11.7bn. In addition, MNCs inject capital expenditure of €5.7bn approx. on new buildings and machinery and equipment leading to high levels of employment in the construction sector. A significant portion of the record corporation tax take (approx. two thirds) can also be attributed to the thriving IDA supported FDI sector in Ireland. EXPORT MARKETS Overseas companies continue to be significant exporters from Ireland, with IDA clients accounting for 67% of national exports in 2017 (€189bn). The country’s main markets are the EU and the USA, and the main exporting sectors are: PHARMACEUTICALS & CHEMICALS COMPUTER SERVICES BUSINESS SERVICES FINANCIAL SERVICES & INSURANCE FOOD & BEVERAGES MEDICAL DEVICES GDP GROWTH % The Irish economy is the fastest growing in the Eurozone Source: IMF World Economic Outlook, April 2019/July 2019 FACTS ABOUT IRELAND 2019 Facts about Ireland including information on the economy, workforce, government, employment, corporate tax rate, competitiveness, infrastructure and more. DOWNLOAD THE FACTS ABOUT IRELAND 2019 - PDF ECONOMY RESOURCES Previous 06-05-2020 Letter to IDA Ireland client companies following the Irish Government's public health advisory in May regarding restrictions of movement due to Covid-19 19-03-2020 Speech by Martin Shanahan, CEO of IDA Ireland at Press Conference at Government Buildings 12-02-2020 Payoneer doubles down on regulatory investments ; Opens new Dublin hub to support continued growth in Europe and ensure post-Brexit continuity 12-02-2020 Taoiseach Opens European Financial Forum in Dublin Castle The IDA Ireland organised forum, in association with the Financial Times, brings international and Irish financial industry leaders, regulators and policy experts together 08-01-2020 IDA Ireland achieves all targets in ‘Winning – Foreign Direct Investment 2015-2019’ Strategy 27-09-2019 Facts About Ireland 2019 Everything you need to know about investing in Ireland in 2019 including information on economy, talent, tax, commercial property and more. 14-08-2019 New Strategy for IDA Ireland IDA Ireland is in the process of developing a new five year strategy to succeed its current strategy “Winning FDI 2015 – 2019”. We do so in a strong position. There have been record levels of foreign direct investment into Ireland over the past five years. The ambitious targets set out in the current strategy will be met and, in many cases, have already been well surpassed. In this strategy IDA has placed a particular focus on increasing investment in regional locations and that emphasis is bearing fruit. 17-07-2019 Five tips for rapid international business expansion Every company that wants to grow will reach a point where it needs to expand into new markets. Doing it right means setting up operations closer to those customers. It’s a big step, but it’s one that many others have taken before. For this blog, we spoke to senior leaders at leading tech companies that expanded into Ireland. They shared their advice on getting a fast and frictionless start, with five practical tips for others planning to grow their business internationally. 20-06-2019 IDA Ireland reports strong Half-Year Results IDA Ireland, the inward investment agency of the Irish Government has today reported a very strong first half of 2019 with 13,500 jobs approved – up 19% on the same time period last year. 15-03-2019 70 Companies have invested in Ireland as a result of Brexit Latest figures from Ireland’s Foreign Investment Agency, IDA Ireland have shown that 70 individual investments related to Brexit, with over 5000 associated jobs, have been approved since the UK’s EU referendum in June 2016. 21-11-2018 Facts About Ireland 2018 28-04-2020 Remote working is now! The potential business benefits of Remote Working have been acknowledged for some time – enhancing the ability to attract and retain top talent, contributing to a more contented and productive team, and lowering the cost base. Remote working can contribute to regional development through sustainable rural communities, while also addressing inclusion and diversity in workforces by removing some barriers to work. It also offers companies and employees the opportunity to focus on output rather than attendance, while building resilience and business continuity. Next MORE REASONS TO INVEST DEMOGRAPHICS EDUCATION & SKILLS WAGES & SALARIES QUALITY OF LIFE TAX PROPERTY INFRASTRUCTURE Cookie Notification We use necessary cookies to run our website. We also use cookies for analytical and advertising purposes. More information on what cookies we use can be found here. To consent to the use of ALL cookies click “I Accept”. You may visit Cookies Preference to manage which cookies we may use. Go to Privacy Centre Ireland, Right Place Right Time Copyright IDA Ireland 2021 Produced by IDA IRELAND NEWS SIGNUP By subscribing you are consenting to receive our Email Alerts and monthly Innovation eZine. 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