Sunday 29 May 2016

Dublin primed to become one of Europe's top cities of the future

Published 24/02/2016 | 08:03

Dublin City Skyline by Geraldine Snow
Dublin City Skyline by Geraldine Snow

Dublin is now in a position to become one of Europe's top cities according to the latest fDi European City of the Future rankings.

The Irish capital scaled two places in the list to third with the Financial Times magazine applauding it for its heavy emphasis on software and IT investment.

According to the rankings the software and IT sector accounted for 45pc of all the city's foreign direct investment between the years of 2010 and 2014

Dublin was also ranked amongst the top three European cities for economic potential and for business friendliness. It also ranked fourth for its FDI strategy.

Head of enterprise at the Local Enterprise Office in Dublin City, Greg Swift, said the business culture that has been created in the city is very positive.

“Dublin, the driver of Ireland, Europe’s fastest growing economy, is an ideal location from which to access the European Union’s 500 million customers.

"In addition to being the only English speaking country in the Eurozone, the business climate that has been created is very favourable and this is evidenced by Dublin being the second best Major European City for Business Friendliness in these rankings.

"The strong infrastructure for FDI which exists in the city and region enhances the ease with which companies can establish themselves in Dublin," Mr Swift said.

According to Dublin City Council, Ireland's attractive tax system and its government agencies help make it an attractive location for FDI.

Dublin is currently home to half of the world's top banks, 250 global financial institutions, 10 of the world's top 20 insurance companies, nine of the world's top 10 pharmaceutical companies, and 17 of the world's top medtech companies.

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