We've launched our report on Dublin’s business and fintech landscape. In this report, you'll find out more about this fascinating region and get a better perspective of the initiatives in place that are furthering innovation in both business and technology.
Below is an excerpt from the report - follow the button below to download the full version!
Dublin, the capital of Ireland, is a profitable location for financial services, thanks to the combination of high productivity and a competitive cost base compared to other locations with similarly sophisticated ecosystems.
The country is part of the Eurozone, a member of the European Union and participates in the EU single market. Therefore, by locating one’s business in Ireland, multinational corporations gain a unique gateway into other major markets.
Although hit hard by the crisis in 2008, Ireland experienced in 2014 the fastest economic growth within the Eurozone. Today, the country enjoys a robust current account surplus.
As of this year, Ireland is considered the sixth freest economy in the world. In addition, the International Chamber of Commerce (ICC) ranked Ireland as the fifth most open economy worldwide.
Ireland stood out as having the highest level of openness for foreign direct investment and also performed strongly in relation to its trade policies. This high ranking highlights the importance of international trade for the open Irish economy. The country is exports oriented toward sectors with high added value. Ireland is the fourth largest exporter of financial services in the EU. However, the other side of the coin is that this economic openness makes Ireland considerably influenced by global markets and, therefore, vulnerable to global economic cycles and to external shocks.
Dublin has the potential to become a global fintech innovation hub along with London, Berlin, New York, Silicon Valley, Tel Aviv, Singapore and Hong Kong.
This report aims to highlight the strengths of Dublin as a favorable city to conduct and implement business. Dublin’s skilled workforce, its work as a technology hub and even the supporting Irish startup ecosystem are only some of the elements we will discuss in this report, showing that Dublin a perfect location for international fintech companies seeking to expand and grow.