In EY’s recent report on foreign direct investment in Ireland, the country ranked 9th out of 48 countries in Europe for FDI, and stated that the US continues to be the most active investor country into Ireland accounting for 58 per cent of projects.
“Though later in 2021 there will be the unusual incidence of a fast-growing economy occurring against a backdrop of rising unemployment as supports are removed,” he says. “The vast majority of investors in our survey said western Europe will be the most attractive global location for FDI post Covid-19, while 40% said they were planning to establish or expand operations in Europe in the next 12 months.
The pandemic and, to a lesser extent, Brexit has shone a light on many of Ireland’s areas of expertise and the ICT, technology, pharma and life sciences sectors, all of which have high levels of US investment, have continued to perform strongly and hire more staff.