While one cannot deny that the Irish economy was severely tested during the global economic recession. However, since 2011 Ireland’s economic recovery has been nothing short of remarkable, with economic growth outperforming most Eurozone countries year-on-year. This miraculous recovery can be attributed to three primary factors: Economic reforms, Budget cuts, and bank restructuring. In recent years, Ireland has also done an excellent job of attracting overseas FDI, as evidenced by the large number of American Multinationals choosing Ireland as their international headquarters. This, coupled with a strong increase in the quantity of exports and overall domestic performance has resulted in Ireland having the fastest economic growth in the whole Eurozone region for 3 consecutive years. And with GDP growth for 2017 forecasted at 5%, this is likely to soon become 4 years.
The transport system in Ireland is one of the best in Europe, with Dublin Airport providing a plethora of convenient travel options throughout Europe and beyond. This makes international travel extremely quick and convenient. Other international airports can be found scattered throughout the country, such as Shannon Airport, Kerry Airport, Cork Airport and Donegal Airport to name just a few. Ireland also has an extensive domestic transport system with an efficient motorway system providing effective transport to most parts of the country. An added benefit is that along many of these routes, you can marvel at simply breath-taking scenery, such as the wild Atlantic way, the largest costal driving route in the world.
Known as “The Garden of Ireland” and “The Emerald Isle”, Ireland possesses a beautiful natural environment with lush green vegetation and an unspoilt landscape. The country prioritises keeping its natural landscape in tack, as evidenced by the emphasis on protecting the natural habitats of the spectacular wildlife that call the country home. There are numerous spectacular natural sights that attract visitors the world over for example, the Cliffs of Moher, The Giants Causeway, and The Burren to name but a few. The countryside is speckled full of fields as far as the eye can see, with numerous exotic flowers and animals only found in this patch of untouched paradise.
As briefly mentioned above, Ireland has an extremely competitive business system; so much so that it ranks 6th worldwide on the Overall Global Competitive ranking, a Global ranking comprising of the following factors: Economic Performance, Government Efficiency, Business Efficiency, and Infrastructure. Moreover, it, even took the top ranking when it came to Business Efficiency and Productivity; a tremendous achievement considering the relatively small area of the country. The country also has an extremely progressive tax system, with corporation tax being just 12.5%, far below the European Union average.