IRELAND: AN ECONOMIC ANALYSIS
Table of Contents Executive Summary 5 Population 5 Total 5 Growth Rates 5 # of Live Births 5 Birthrates 6 Distribution of Population 6 Age 6 Sex 6 Geographic Areas 6 Migration rates & Patterns 7 Ethnic Groups 7 Economic Statistics & Activity 7 Gross National Product (GNP or GDP) 7 Total 7 Rate of Growth 7 Personal Income Per Capita 8 Average Family Income 8 Distribution of Wealth 8 Income Classes 8 Proportion of the Population in Each Class 8 Is the Distribution distorted? 8 Minerals & Resources 9 Surface Transportation 9 Modes 9 Availability 9 Usage Rates 10 Ports 10 Communication Systems 10 Types 10 Availability 10 Usage Rates 11 Working Conditions 11 Employer-Employee Relations 11 Employee Participation 11 Salaries & Benefits 11 Principal Industries 12 What Proportion of the GNP does each industry contribute? 12 Ratio of private to publicly owned industries 13 Foreign Investment 13 Opportunities 13 Which Industries? 14 International Trade Statistics 14 Major Exports 14 Balance-of-Payments Situation 14 Exchange Rates 15 Trade Restrictions 15 Embargoes 15 Quotas 15 Import Taxes 16 Tariffs 16 Licensing 16 Customs Duties 16 Extent of Economic Activity Not Included in Cash Income Activities 16 Countertrades 16 Foreign Aid Received 16 Labor Force 16 Size 16 Unemployment Rates 17 Inflation Rates 17 Developments in Science & Technology 17 Current Technology Available 17 % of GNP Invested in R&D 17 Technological Skills of the Labor Force & General Population 17 Channels of Distribution (Macro Analysis) 18 Retailers & Wholesalers 18 # of Retailers & Wholesalers 18 Typical Size of Retail & Wholesale Outlets 18 Customary Markup for Goods 18 Methods of operation (cash / credit) 18 Scale of Operation (large/small) 19 Roles of chain stores, department store and specialty shops 19 Warehousing 19 Penetration of Urban & Rural Markets 20 Media 20 Availability of Media 20 Costs 20 Television 20 Radio 20 Print 20 Agency Assistance 20 Coverage of Various Media 20 % of Population Reached by Each Medium 21 Sources 21 Appendices 26 Appendix A 26 Appendix B 27 Appendix C 28 Appendix D 29 Appendix E 30 Appendix F 30
Executive Summary
Ireland is an island country located in Western Europe. With a population of 5 million and continued growth inevitable, Ireland is quickly becoming a promising prospect for U.S. companies looking to invest internationally. Upon closer examination of the economic state of Ireland, it is more and more clear that foreign investment in the Irish economy is a good move.
After the Financial Meltdown of 2008, Ireland suffered a massive economic hit; however, after receiving financial aid from the European Union and focusing on an economic restructure and deficit-reducing strategies, Ireland was able to break free from the aid package in 2013. Continued economic growth attracted foreign investors to house their corporations in Ireland, which resulted in an astronomic 25% increase in GDP during 2015. Since this significant economic growth, Ireland has been able to reduce the national deficit to -0.6% of GDP, which is allowing the government to focus on investing in more ventures which will enhance quality of life and economic progress in the long-run.
In addition to the continued economic growth Ireland is currently experiencing, they are also one of the friendliest countries to foreign investments. Corporate tax rates are significantly lower than the rates in the US or in many other areas of the European Union, and there are many other incentives and tax breaks available to foreign investors and startups. Simultaneously, Ireland is experiencing a massive movement towards technological development, with many tech companies choosing to plant roots in Dublin, the nations capital. The demand for tech jobs is too fast for the Irish educational system to keep up with, so many Americans and other European millennials are moving to Ireland to work. This influx in population will continue to boost the economic growth of Ireland while increasing demand for foreign products that may not have existed before.
With economic growth such as this, the demand for food service will increase accordingly. Now is the time to invest in Ireland. Corporate tax rates are unbeatable, the country is experiencing economic growth at the fastest rate in its history, and the workforce median age is at an all-time low due to the trends toward tech companies and further technological development. Chipotle should strike while the iron is hot and open a minimum of two restaurants in the Dublin area, strategically placed near some of Dublins largest tech companies with high rates of employment.
Population
Total
Growth Rates
Irelands population is growing at a rate of 1.15% as of 2017. This makes Ireland the 99th fastest-growing country in the world.
# of Live Births
Ireland has recently been undergoing a period of growth. In 2016, the state recorded a rate of 13.5 births for every 1,000 people. This equates to 63,900 live births in 2016 alone, giving Ireland the biggest natural rise in population the European Union.
Birthrates
Irelands birthrate was estimated to be 14.1 births per every 1,000 people in 2017. The birthrate is ranked as the 137th highest birthrate worldwide. Contrastingly, the death rate was 6.6 deaths per every 1,000 people in 2017, ranking Ireland 142nd on the international scale.
Distribution of Population
Age
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