Will Ireland’s economy return to growth through international investment or through the efforts of local small industries?
With the lack of credit available for the foreseeable future it is going to be difficult for indigenous industries to make any substantial impact soon.
The office letting market is still very challenging in Dublin but was eased somewhat last year by the takeup of office space by companies such as Facebook (1,050 sq. m at Hanover Reach) and Amazon (1,300 sq. m at Kilmainham Square). It is encouraging that International on-line operators are continuing the lead of Microsoft and Google by locating substantial parts of their business here.
Ireland offers many advantages to companies as an international headquarters location. As well as our tax advantages, we have a large, well-educated labour pool, vacant office space at competitive prices, and improving communications infrastructure.
There has been some haemorrhage of business relocating to cheaper labour markets of eastern Europe and Asia but Ireland is still an attractive location for many companies.
Update October 2014: After quite a few years of recession, stagnation and austerity, the economy is again growing slowly and the property market, especially in Dublin, is experiencing a recovery. The question is, have we learned form the mistakes of the past. Will amnesia quickly set in or will we be able to control recovery so that it is sustained well into the future?
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