FDI's Contribution to Ireland's Economic Development and Success
How has FDI in Ireland contributed to our economic development and what are the prospects of attracting FDI capable of a making a similar contribution to sustainable economic growth in the future.
Ireland is one of Europe’s leading locations for FDI. “Multinational enterprises are a very significant component of the Irish enterprise sector and will continue to play an important role in our economy” (Houses of the Oireachtas, 2012).
Abstract
This piece examines the critical importance of FDI in the growth of Ireland. It explains the reasons for Ireland’s success. The analysis is carried out in terms of employment, exports, outputs, Government assistance and advantages and disadvantages of FDI’s investing in Ireland. Without the influence of FDI inflows, the economy would not have grown to the extent it has. This piece will discuss the growing FDI levels and the prospects of attracting FDI into Ireland, promoting sustainable growth, the Irish economy and employment & export levels.In order to speak about Foreign Direct Investment, one must look at its statistics and the developments for which it is responsible for. As a result of multinational companies basing operations within Ireland, the country has improved its infrastructure, transport networks, technology, education and retained a low corporate tax rate.
Introduction
George Bernard Shaw quipped in the 1930’s, that he hoped to be in Ireland on the day the world ended, because the Irish were always 50 years behind the times. Over 70 years later, the same cannot be said. With an economy growing at a rate consistently above the EU average, Ireland is one of the most favoured locations for FDI in Europe by multinational corporations. “In 2011, Ireland ranked second most attractive country globally for Foreign Direct Investment revealed by The National Irish Bank/FDI intelligence Investment Performance Monitor.”(IDA, 2011). This report shows the attractiveness Ireland is for FDI in terms
Ireland is one of Europe’s leading locations for FDI. “Multinational enterprises are a very significant component of the Irish enterprise sector and will continue to play an important role in our economy” (Houses of the Oireachtas, 2012).
Abstract
This piece examines the critical importance of FDI in the growth of Ireland. It explains the reasons for Ireland’s success. The analysis is carried out in terms of employment, exports, outputs, Government assistance and advantages and disadvantages of FDI’s investing in Ireland. Without the influence of FDI inflows, the economy would not have grown to the extent it has. This piece will discuss the growing FDI levels and the prospects of attracting FDI into Ireland, promoting sustainable growth, the Irish economy and employment & export levels.In order to speak about Foreign Direct Investment, one must look at its statistics and the developments for which it is responsible for. As a result of multinational companies basing operations within Ireland, the country has improved its infrastructure, transport networks, technology, education and retained a low corporate tax rate.
Introduction
George Bernard Shaw quipped in the 1930’s, that he hoped to be in Ireland on the day the world ended, because the Irish were always 50 years behind the times. Over 70 years later, the same cannot be said. With an economy growing at a rate consistently above the EU average, Ireland is one of the most favoured locations for FDI in Europe by multinational corporations. “In 2011, Ireland ranked second most attractive country globally for Foreign Direct Investment revealed by The National Irish Bank/FDI intelligence Investment Performance Monitor.”(IDA, 2011). This report shows the attractiveness Ireland is for FDI in terms