Ireland is one of Europe’s fastest growing and most innovative economies. With a young and highly educated workforce, Ireland holds global leadership positions in Life Sciences, Financial Services, Food and other sectors. Ireland is an IT powerhouse in MedTech, Biometrics and is home to some of the world’s largest Cloud, Internet and Software companies.
The population of the island of Ireland is approximately 5.7 million of which 4.2 million live in the Republic. Roughly one third of the population live in the capital Dublin and its surrounding suburbs. Ireland has a young, well-educated and productive workforce with the youngest population in Europe with a third of the population under 25 years old. The population is forecast to increase by almost one million people to 5.75 million by 2040.
The Republic of Ireland is a parliamentary democracy with a written constitution. The President is the Head of State elected for a maximum of two terms of seven years. The Parliament is known as the Oireachtas and consists of two houses, a Lower House and the Senate. The lower house called Dail Eireann has 166 members. They are elected in multi-seat constituencies by the single transferable vote system of proportional representation. The members of Dail elect a Taoiseach (Prime Minister) who nominates 15 Government Ministers to the President, who then appoints them on his advice.
The Republic of Ireland is a full and committed member of the European Union and a Eurozone Member.
The English language is the official business and commercial language, 73,803 people speak the Irish language daily in the Republic of Ireland outside the education system. Irish is the 21st official language of the European Union.
Ireland is one of the largest exporters of software globally and eight of the top ten global pharmaceutical companies operate there.
With one of the lowest corporate tax rates in Europe, state-of-the-art telecommunications and a young, well educated workforce Ireland is an attractive strategic business location for any business.
While there are growing concerns about the global economy and the spectre of Brexit looms large, Ireland enters 2019 in a position of strength. Its renowned international sector is now complemented by a strong domestic economy which is fuelled by fast job growth, real wage increases and strong inward migration flows.
The currency is Euro €