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 continues to exceed €1 trillion
In 2019, foreign direct investment (FDI) 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. It’s no surprise that Ireland received more FDI than any other country in the world that year.
Since then, FDI in Ireland has continued to grow, with Dublin ranked as the 7th most attractive European city for FDI over the next 3 years despite a recent decline in FDI across much of Europe.
This demonstrates just how highly globalised the Irish economy is and the attraction it holds for investors.
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 Meta. Many of the city’s multinationals are in sectors like tech, life sciences and financial services.
3. Eight in ten FDI decision makers plan to establish or expand operations in Ireland
According to think tank New Financial, 135 financial firms had relocated to Dublin by 2019. This means that a quarter of the firms that left the UK following Brexit chose to invest in Dublin.
And this momentum has continued. A recent survey found that eight in ten FDI decision makers are planning to establish or expand operations in Ireland. Notably, 95% of those in Financial Services and 90% in Pharmaceuticals and Chemicals had the intention to invest in the coming year.
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.
Companies have been increasing their R&D spending every year since 2015. In 2021, this exceeded €3.8 billion, a 19% increase from the previous year, according to the Central Statistics Office.
Along with this, the Irish government’s ongoing dedication to investment in R&D means it’s reaching record-level highs, with this year’s spend expected to surpass €1 billion in the coming months.
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, along with many other tech companies that followed in the footsteps of the Silicone Valley pioneer, with 70% of Ireland’s FDI now coming from the US.
Over a third of multinationals have had operations here for more than 20 years. This demonstrates the long-term value that Dublin offers to its 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.
