It looks as though the Republic of Ireland has once again shown itself to be the best place on Earth to invest in for foreign firms. For the sixth year in a row now, the Emerald Isle has been ranked as the number one country in the world for outside investors to sink money into.
According to the 2017 Global Locations Trends report commissioned by tech giant IBM, global foreign direct investment (FDI) levels in Ireland shot up significantly over the past twelve months. This influx of investment has resulted in the numbers of job roles rising just as significantly - that amount rose by a full 10%, in fact. Foreign investment-related employment levels in Ireland are now at their highest in over a decade.
The advantages you get from investing in Ireland outnumber every other nation you can name and beat the big hitters, known FDI hotspots, such as Sweden, Japan, Denmark, the Netherlands, Switzerland, Singapore and Hong Kong.
We’re not talking about smaller, low-profile projects, either. Ireland is ranked number one in the world for high-value foreign investments. When a huge project needs setting up abroad, the big players understand and appreciate what Ireland has to offer.
Data taken from 2017 Global Locations Trends report
“International competition for investment has never been more intense,” says Martin Shanahan, chief executive of IDA (Industrial Development Authority) Ireland. “Ireland being named as the best country for high-value FDI for six years in a row is excellent news and will assist us greatly when making a case for Ireland in boardrooms across the world.”
“IDA Ireland will continue to target blue-chip companies and the next wave of high growth companies in the coming years and capitalise on Ireland’s position as one of the top destinations in the world for foreign direct investment,” Mr Shanahan went on.
FDI saw a rise across most of Europe this past year, particularly in Baltic nations and across Eastern Europe. The most significant hit for foreign investment was seen, understandably, in the United Kingdom. Uncertainties over Brexit have resulted in a drop in foreign investment in the UK and a dip of 13% in related employment. But the rest of the continent is seemingly doing quite well, according to the report.
“Notwithstanding a positive trend and growth in foreign direct investment in Europe, countries with fundamental structural weaknesses in their competitive position saw deteriorating performance,” the report says. Which isn’t something Ireland needs concern itself with.
Things still look good in Dublin and beyond, then. Here’s to another six years (and more)!