WHY IRELAND COULD BE THE HOT DESTINATION IN A FROZEN EURO ZONE? The country’s economic performance off late looks more convincing than most parts of the troubled economy and with some basic fundamentals in place, Ireland has got the key ingredients for a successful business venture.
Why Ireland Could Be 'The' Hot Destination In a Frozen Euro Zone
Aug 13, 2015
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WHY IRELAND COULD BE THE HOT DESTINATION IN A FROZEN EURO ZONE?The country’s economic performance off late looks more convincing than most parts of the troubled economy and with some basic fundamentals in place, Ireland has got the key ingredients for a successful business venture.
SURPRISINGLY ITS ECONOMY IS
GROWING!Where Greece’s economy will contract by 6 per cent of
GDP this year and the euro zone by 0.4 per cent, the IMF forecasts the Irish economy will grow by 0.4 per
cent and is credited with making a “bumpy recovery”.
Source: IMF
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As a non-core Euro zone country, Ireland's status has always been a matter of debate. But an interesting fact is that:
• Ireland's economy is showing signs of
recovery.
•High possibilities of an export driven
recovery.
2011 Record Year for FDI
Exports in H1 2012 Increased
6.8%
Labor Cost Declined
12%
Unemployment Goes Down to
14%
Positive Indicators
DUBLIN IS A GROWING BUSINESS HUB
•Closely connected to major centers across Europe
•Ranked recently by Forbes magazine as one of the six best global cities that are hotbeds for start-ups and innovation
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Low corporate Tax(12.5%)
Favorable Geographical
Location
(Between US and Europe’s mainland)
Great Infrastructure
(CommunicationTransport
R&D Facilities etc)
Major Drivers
Beckoning hi-tech businesses- Europe’s Silicon Valley?
Facebook Twitter
Salesforce
AmazonGoogle
Microsoft
GOOD AT HIGH-END TECHNICAL SKILLS
The Irish- They are a people known for their hospitality and kind nature. And they have some niche technical skills.
Ireland ranked first for the availability of skilled labor
---2012 IMD Global Competitiveness Survey
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KEY SPECIALITIES
Testing
Applications
Development
Language Life Sciences
AHEAD IN THE GLOBAL 'CLOUD' RACE
The Irish prime Minister, Enda Kenny, was recently quoted saying, “We are well on the way to establishing Ireland as one of the cloud computing capitals of the world. Seven of the world’s top ten Cloud Data Center operators are already in Ireland, including Amazon, Google and Microsoft.”
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Leading Cloud PlayersCLOUD
EXPERT SPEAKS“Role of Ireland will not emerge
just in cloud but in other high-end technology areas as well.”
----- Salil Dani, Everest Research
BPO STORY IS EVOLVING
Ireland has very strong multilingual skills that give it an edge in the contact center outsourcing space and areas where niche expertise is valued more than cost.
5
T
o 1st for corporate taxes
o 1st in the Eurozone for ease of doing business
o 2nd most attractive country globally for FDI
o Top 10 of easiest places in the world to do business
o 4th for the availability of skilled labor
o 6th for labor productivity
o 7th for the availability of financial skills
Today Ireland holds the following position in World competitiveness rankings
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