With a strong, open economy, strategic location and unrivalled incentives for investment, it’s no wonder that Dublin is consistently ranked as one of the best places in the world for doing business. The opportunities and lifestyle that it provides attracts homegrown and international talent to this diverse and energetic city.
Dublin is a favoured base for many international businesses and is home to the European headquarters of many more. Find out what’s placed this compact city among the top choices in the world – and see if your business is ready to set up its home here.
Dublin has a reputation internationally for being a start-up-friendly city. The small size of the city and its open, welcoming attitude provides both international and Irish entrepreneurs with easy access to relevant decision makers and a very supportive and connected start-up ecosystem. No wonder then that, with a low level of corporate tax and minimum red tape, the World Bank ranks Ireland in the top 10 countries worldwide (2018), to start a business.
Dublin has a vibrant and diverse economy. It supports thriving clusters of both Irish and international players and is experiencing strong growth in employment across a wide range of industry sectors. This success is expected to continue; FDI Intelligence has ranked Dublin as No. 1 in terms of economic potential among large cities.
Dublin’s exceptionally well-educated, English-speaking workers, its business-friendly tax infrastructure and its strong ties to both the EU and US make this city the ideal place to expand or invest.
Two very popular areas to invest in here are Dublin’s startups – and emerging companies – and its real estate.
Dublin’s startups and emerging companies
Whatever your interests, budget and appetite for risk, Dublin’s capital ecosystem can provide the investment opportunity you’re looking for. Tech Ireland’s website is a good place to start your search. If you are interested in meeting some of Dublin’s entrepreneurs, visit Startup Dublin, which arranges startup networking events – including the highly s
It’s no surprise that a city as entrepreneurial and dynamic as Dublin has a thriving meeting and convention scene. Dublin offers world-class venues, great value for money for both organisers and delegates and – of course – the city’s famously warm hospitality.
The centrepiece is The Convention Centre in Dublin’s Docklands. This extraordinary venue hosts around a hundred events each year and has won over forty industry awards – including the World’s Leading Meetings and Conference Centre at the World Travel Awards 2017.
The Dublin Economic Monitor reports on economic trends emerging in the capital and provides a comprehensive picture of how the Dublin economy is performing.
The Monitor publishes new data each quarter to help the reader process and understand economic performance. It provides a dashboard of the most relevant economic indicators for Dublin on business and consumer sentiment, employment trends, passenger and freight information, and property trends. It also provides unique insights into domestic and tourist spending in Dublin.
Cities are buzzing with data. Traffic ebbs and flows, card readers ping, security cameras monitor footpaths, and each one of us is shedding reams of GPS signals, tweets and likes. Most of these data are simply shelved on distant servers and forgotten. But properly aggregated and anonymised, these and terabytes of other data can help city authorities develop policies for a greener, safer and more enjoyable place to live.
That’s exactly what
According to a European-wide analysis of FDI trends published in June 2019, Ireland delivered a “Brexit-busting performance” in attracting foreign direct investment in 2018, winning 52% more FDI commitments than in the previous year.
Other factors crucial to Ireland’s strong performance include its economic and political stability, in addition to its continued commitment to the EU. In combination, all these factors serve to increase Dublin’s attractiveness to foreign investors post-Brexit.
For companies seeking to deal with the impli
Brexit: Dublin still the most popular choice for financial services relocating
Dublin remains the most popular choice for financial services firms to relocate to post-Brexit, EY's latest Financial Services Brexit Tracker shows. The tracker reveals that 29 firms have committed to relocating staff or operations to Dublin since the Brexit referendum in 2016. Luxembourg has attracted 25 companies and is just ahead of Frankfurt which has attracted 24 firms so far, EY stated. The tracker shows that Dublin has mainly attracted insurance, banking and asset management firms, as well as a significant proportion of what are known as Globally Systemically Important Banks. Meanwhile, the companies that have chosen Luxembourg are mostly asset managers and insurers, while Frankfurt has mainly been selected by large investment banks. EY also noted that over the last three months, the number of relocation announcements from financial services firms has fallen significantly. It said this suggests that firms have paused or slowed their Brexit preparations since the October extension date was announced earlier this year. Cormac Kelly, Financial Services Brexit Lead for EY Ireland, said that those firms who have relocated, gained their licences and are operationally ready, are now focusing on "business as usual". "The challenge for them now is running their newly regulated entities across the European jurisdiction where market conditions are tough, regulators are demanding, and the need to deliver cost reduction and productivity increases are relentless," Mr Kelly said. "Given the continued confusion around the UK political landscape and uncertainty on the timeline for a Brexit outcome, firms continue to spend time and effort planning for a no-deal, but most are seriously hoping for a clear resolution soon so that they can have confidence in a more certain 2020," he added. Professor Neil Gibson, Chief Economist at EY Ireland said that Dublin's top position on the relocation league table is particularly encouraging given the increasing focus within the sector on cost reduction. He said that the moderation of house price growth in the city and very benign inflation conditions have been extremely helpful and somewhat unexpected given the pace of Irish growth. "In the event of a no-deal Brexit, the relocations will be very helpful in generating income that Government can invest to offset losses elsewhere in the economy," the economist added.
Medtech startup CroíValve has raised €4m to kickstart its first human trials
A few months after its last funding round, Dublin medtech startup CroíValve has raised an additional influx of €4 million from investors. CroíValve, founded in 2017, is developing a device for treating a heart condition called tricuspid regurgitation, where valves in the heart do not close correctly. The new funds will be invested in carrying out its first early trials using humans. The €4 million funds come in the form of €2.5 million from the EU’s Horizon 2020 programme and €1.5 million from Broadview Ventures, a Boston firm that specialises in investing in cardiovascular treatments, and existing backers Halo Business Angel Network, Atlantic Bridge University Fund and SOS Ventures. The latest tranche of funding arrives just a few months after the Trinity College Dublin spinout startup raised €3.2 million. Tricuspid regurgitation is a condition where the tricuspid valve in the heart does not seal correctly, resulting in blood flowing from the right ventricle into the right atrium. This can cause a number of outcomes including fluid retention, liver and kidney failure and can be fatal. It has traditionally been treated through open heart surgery but many of those that suffer from it are elderly and are at risk in such a serious surgery. CroíValve has developed a device called a Tricuspid Coaptation Valve that is inserted into the heart, which is minimally invasive, and seals the gap in the valves. The device has already passed pre-clinical testing and the company will now be seeking to carry out first-in-human trials. These are the initial tests on human patients. Chief executive Lucy O'Keeffe told Fora that CroíValve will commence the trials in early 2020. It is facing a lengthy period of trials and studies before the device will hit the market. "We have a long clinical journey, it's a heart valve implant. We are looking to start feasibility work in Europe with first-in-human trials and progress to feasibility work in the US and then on to more significant trials," she said. "Pivotal trials will require regulatory approval for selling the device. We have a number of years of clinical evaluation."
The Irish arm of electronic goods and mobile phone retailer Dixons-Carphone has said it continued to outperform its British parent, with "an exceptionally strong" trading performance, in the first quarter of its financial year. The group trades here under the Currys-PC World and Carphone Warehouse brands and said it increased market share across all categories including televisions, laptop computers, mobile phones and white goods. That performance was in stark contrast to the group as a whole, which said overall like-for-like sales were flat in the three months to the end of July. First quarter like-for-like UK and Ireland electronic goods sales were up, but a big fall in mobile phone sales in Britain held back total growth. Economists say recent signs of a weakening in spending by UK households raise the risk of a recession as the country prepares to leave the EU. Dixons-Carphone has guided for a group underlying pre-tax profit of around £210m (€234m) in 2019-20, down from £298m made in 2018-19.