With a strong, open economy, strategic location and unrivalled tax incentives, it’s no wonder that investment in Dublin is strong. If you plan to invest in the city, here are some stats to reassure you that you’re making the right decision.
1. FDI recently exceeded €1 trillion
In 2019, foreign direct investment throughout Ireland exceeded more than €1 trillion for the first time. According to the Central Statistics Office, this was equivalent to 288% of the country’s GDP – and far outweighed the EU average of 62%.
This demonstrates just how highly globalised the Irish economy is and the attraction it holds for investors. It’s no surprise that Ireland received more FDI than any other country in the world that year. While it dropped behind Luxembourg and Germany in 2020 as a result of the Covid-19 pandemic, the sector remains resilient.
2. Over 1,600 overseas companies are based here
If you invest in Dublin, you’ll enjoy the company of hundreds of leading businesses from around the world.
Half of the world’s most innovative companies, as listed by Forbes, have bases in Dublin. They include ServiceNow, Workday, Salesforce, Amazon and Facebook. Many of the city’s multinationals are in sectors like tech, life sciences and financial services.
3. Dublin is the biggest beneficiary of Brexit relocations
According to think tank New Financial, 135 financial firms have relocated to Dublin so far. This means that a quarter of the firms that have left the UK to date have chosen to invest in Dublin.
4. R&D business expenditure exceeds €3 billion
Thanks to Dublin’s strong startup ecosystem, as well as its accelerators, research centres and innovation supports, R&D activities are on the rise.
Expenditure by companies has increased every year since 2015. In 2019, it exceeded €3 billion, according to the Central Statistics Office. And, in 2020, the government increased its spending in the sector to €869 million when it is estimated to have been worth a total of €3.4 billion.
5. A third of Ireland’s multinationals are here long-term
Since the 1950s, the Irish government has welcomed and encouraged foreign investment in Dublin. Back in November 1956, IBM was the first US tech company to set up a base in the city. It is still here today and now 70% of Ireland’s FDI comes from the US.
Over a third of multinationals have had operations here for more than 20 years. This clearly demonstrates the value offered to investors.
These facts and figures clearly demonstrate Dublin’s role as a great location for investors. If you want to move or start a business here, you’ll find everything you need to know about investments in Ireland below.