The 2012 World Bank Doing Business Report shows that Ireland has one of the best regulatory environments Start a business Investor protection Paying taxesTotal rank Ireland 135510 Germany 98978919 France 25795829 Portugal 26467830 Spain 133974844 Italy 776513487 Greece 13515583100 Source: World Bank.
Ireland: why the outlook is bright Ireland has the capacity for export-led growth Firms have responded to the downturn by cutting costs and improving productivity Ireland’s fundamental strengths remain… …the business environment is good… …and Irish firms are confident in their outlook… …which is why market confidence in Ireland is beginning to return
Ireland can have an export-led recovery because net exports make a substantial contribution to GDP
IBEC research shows that the vast majority of companies expect to grow turnover in the next five years Source: IBEC.
Q4 2011 –First employment increase since Q4 2007
The base of indigenous companies is strong Half of the medical technology companies are Irish-owned There is a vibrant software sector exporting mainly to the UK and the US. Ireland has a natural competitive advantage in the food and drinks sector. Indigenous manufacturers are becoming increasingly sophisticated. Thanks to competitive adjustment achieved to date, Ireland is pricing itself back into international markets.
Key Sectors for the Future Medical Devices Pharmaceutical Finance Food & Drink ICT
ICT - Industry Overview All of the top 10 technology companies are present in Ireland Current employment: 84,000+ Employment growth: 6% in 2009; 4% in 2010 Jobs announcements: 3,500 in 2010; over 4,000 in 2011 2,700+ jobs announced to date in 2012 5 of the top 10 exporters are technology companies
Medical Devices Sector 11 of top 13 Med Tech Companies have base in Ireland 200+ companies in Ireland (100 are irish owned) Employs over 25,000 people Irelands exports are €7.3 bn annually Ireland exports medical technology to 95 of the top 100 countries world wide Almost 60% of companies expect to increase their employment numbers in 2012.
Pharmaceutical Industry 8 of the top 10 companies are located here 12 out of the top 25 selling drugs are produced in Ireland Exports €50.8 billion in 2010 Employment in the sector has grown from 5,200 in 1988 to over 25,000 in 2010.
Financial Services Sector Growth in international industry offsetting smaller domestic institutions Targeting growth of 10,000 employees over next 5 years Leading position across sectors Building profile and capacity in new areas
Skill Requirements All occupations are becoming more knowledge based Education, training, and skills development is crucial for the future of the Irish economy and society
The population is among the best educated in the world Source: OECD.
Changing Skills Requirements There is likely to be demand for an: Increasing Breadth of Knowledge Rising Qualification and Technical Skill Requirements Importance of Continuing Learning Interpersonal Skills Innovation / Creativity
Specific Skills S.T.E.M. Science / Technology Engineering Mathematics Languages