Ireland as a Digital Economy

Ever wondered why Ireland has become the hub for multinational tech companies like Google and Facebook? In this post, I will be composing a list of 10 reasons why I believe multinational companies in the tech industry are choosing Ireland as their European headquarters.

1. Corporation Tax at 12.5% - The tax rate is an attractive reason for companies to relocate to Ireland as it is the 2^nd lowest rate in the European Union which is important as companies seek to maximise profits.
2. Tax treaties are also a selling point for foreign investment and Ireland has treaties with more than 70 countries.
3. The average return on investment for enterprises that invested was 11.7%, ranking fifth in Europe. Ireland is still committed to growing its investment in productive capital assets, such as critical infrastructure. (Nathan Trust, 2022)
4. Ireland has a highly educated workforce, especially in the technology sector, and is ranked 6^th in the world, computer science is even being taught in secondary schools (Eurostat, 2020).
5. A diverse workforce is valued by multinational tech companies and Ireland is home to approximately 491,500 non-Irish citizens as of 2022 (EMN, 2022).
6. The technology sector benefits highly from support from the government such as carrying out incentives for R&D (European Innovation Scoreboard, 2020).
7. Ireland has access to the lucrative European market as part of the EU and has very high support for remaining in the union (EM, 2017).
8. Post Brexit, Ireland has become the only primarily English-speaking country in Europe which is very important as English is the language of Business.
9. Ireland's legal system structure is often regarded as producing an appealing and stable environment in which businesses may thrive (Levers, 2023).
10. Ireland is ranked in the top 10 most innovative EU countries with the Irish Government making innovation a cornerstone of future growth ( IDA Ireland, 2023) This is attractive for tech multinationals that are constantly developing and innovating to remain current in the market.