In recent times, Ireland has been known for attracting foreign direct investment. So, for multinationals, it has become an attractive place to invest, even more than Spain. Although the first reason to note is that Ireland offers lower corporate tax, there are other reasons to invest in Ireland, as we will see below.
Presence of multinationals in Ireland
Without a doubt, Ireland is a country that offers confidence and reliability when investing or doing business. And it is that 90% of medical technology companies are there. In addition, there are about a dozen high-level pharmaceutical companies in this country. The top 10 of the leading internet companies are in Ireland, as well as most of the largest video game companies.
This is more than good news, since it attests to the economic stability that this European country represents.
Ireland is a young country
It should not be overlooked that Ireland has the youngest population in Europe. It also has an old-age dependency rate of 18.6%, which is almost 10 points away from the existing 27.5% in the European Union. The median age is 34 and more than half of its people go to college.
Ireland is a member of the EU
As we all know, the euro is a good currency to invest in and does not pose devaluation risks. It is the currency of Ireland and, after the dollar, the most widely used worldwide. Today, Europe is emerging as a solid economy, the richest in the world. Those who work in Ireland, coming from other countries, have the freedom to move there freely and to operate a market without barriers.
Low tax rates and profitable businesses in Ireland
Its corporation tax, which is very low (12.5%), cannot be ignored, which gives rise to developing a new business and starting a business.
Being an important technological center, and also having a young population, its residents are broad consumers of digital content and technology in general. Businesses focused on e-commerce, online stores, sales of electronic equipment and devices (including their repair and maintenance) are the most profitable.
However, Ireland is also a country of start-ups, merchandise exports, online consultancies, online travel agencies, as well as employee selection and management services and content generation (websites).
Other advantages of why invest in the Emerald Isle
It is worth highlighting its educational system, which is positioned among the top ten places worldwide (according to data from IMD World Competitiveness, 2016). It is a country that presents solid multilingual skills and also has a high-level infrastructure and competitiveness in telecommunications in the continent.
Finally, the cost of living on the Emerald Isle has had a positive increase for just over a decade, compared to other countries on the Old Continent. As a result, Ireland is one of the strongest economies in Europe, has a high standard of living and has positive macroeconomic indicators. In addition, it has a solid currency to invest, a Consumer Price Index of 1.3% and its inflation has a rate of 0.94%. Without a doubt, all this makes it a nation in which it is very worth investing.