Tel: +353 (0)579328732

Call Menu

Ireland Spring 2018

Published: Feb 13, 2018
  • The global CEO report from PwC forecasts that Ireland will be the fastest growing economy in the eurozone to 2024.  Currently, Ireland is projected to have a GDP growth for 3.5% in 2018.  Average growth for the years 2020 – 2024 for Ireland is forecast at 2.8%.  This compares more favourable than the Eurozone projected average of 1.6% for the 2020-2024 period.  However, geopolitical threats (protectionism, climate change and war) may scupper these forecasts. 
  • The most recent figures from CSO show that the average worker in Ireland earns €36,919 per year.
  • Dublin Port volumes have increased by 30% over the last 5 years.  Trade for the first 9 months of the year increased 4.2%.  Despite Brexit, there was a 6.2% increase in traffic between Ireland and Britain up to and including Q3 2017.  New cars imported via the Port have fallen 5.5% in the three quarters of 2017 so far, due to the low sterling rate. 
  • 33 high level employees of the Central Bank have left their employment with the Bank over the last 3 years, highlighting fears for a ‘brain drain’.  The gap in pay between the Bank and private financial service companies was believed to be one of the issues.
  • Google, who have their headquarters in Ireland, paid €164m in tax in 2016, despite earning profits of €19.4bn.  Turnover for 2016 increased to €26.3bn.
  • Facebook, who have their headquarters in Ireland, paid €30m in tax despite earning profits of €174.3m, and revenue of €12.6bn in 2016. 
  • Manufacturing enjoyed an 18-year high in growth for November when it climbed to 58.1 – the highest since 1999.  The growth came from strong orders both at home and abroad.  Philip O’Sullivan of Investec believes the IMF’s global economic growth forecast of 3.7% for 2018 led to the increase as confidence has increased.

Read Next...

Property Spring 2018
Minister for Housing Eoghan Murphy has laid out plans to help first-time buyers purchase a home.&n...
Read More
World Spring 2018
Australia: 55 Irish companies flew to Australia to pitch their products to the country in November...
Read More
Europe & UK Spring 2018
UK: the IMF predicts global growth this year and 2019 to be 3.9%, the biggest expansion since 2011...
Read More
web design by Dmac Media