Ireland is the westernmost country in Europe. Formally known as the Republic of Ireland, the country is known for its green landscape and rich musical and literary heritage. The capital city of Dublin is now a major European hub for global technology, financial services and life sciences corporations and start-ups, due to the city’s strategic location, access to skilled talent, EU membership and pro-business environment.
Ireland ranks second in the European Union in terms of GDP per capita at €79,300 (much higher than the EU average of €37,600). Ireland has a significant global diaspora, with an estimated 70-80 million people of Irish descent living beyond the shores of the ‘Emerald Isle’.
For most of Ireland’s history, the economy centred around agriculture and farming, with barley, wheat, potatoes and cattle. Today, agriculture only accounts for 1% of Ireland’s overall GDP, while the service sector accounts for 61%, with key drivers including multinational corporations in the technology and finance services sector. Tech companies such as Meta and Google have established their European headquarters in Dublin, while Apple’s European HQ is in Cork. Professional, administrative and distribution services are also large contributors to the services economy.
Another 34% of Ireland’s GDP consists of industry, with pharmaceuticals and biotechnology companies such as Pfizer and Johnson & Johnson manufacturing products in Ireland for distribution throughout Europe.