As a long term and committed member of the European Union, Ireland is an attractive hub for foreign direct investment (‘FDI’) business. It is the only English-speaking country in the Eurozone and provides businesses with direct access to the European market.
Ireland’s membership of the EU provides businesses with access to multilingual highly skilled labour pool, EU trade agreements and EU regulations for products and services. This membership provides a strong talent pool for FDI businesses to access in growing their business.
Home to the youngest population in the EU, Ireland has a very strong education system ranked top 10 globally by reference to Quality of the Education System and University education that meets economic needs.
Ireland has a strong track record as an efficient jurisdiction to conduct business. It has been ranked best country in Western Europe to do business in. Ireland’s geographical location and strong international flight connections make it a convenient hub to access to the US, UK, European and the Middle Eastern markets.
All of these factors, coupled with an efficient taxation regime, make Ireland one of the premier destinations for FDI investment to the EU.
According to the local trade bureau, IDA, what is the estimated revenue from FDI business annually?
From data published by IDA Ireland, FDI companies supported by IDA Ireland accounted for €125bn in exports in 2018, paying €2.8bn in corporation tax and spending €1.4bn annually on R&D projects. IDA supported companies employed 174,448 people directly in 2018, which is expected to increase to 209,000 in 2019.