Ireland: Europe s High-Tech Hub

Ireland: Europe's High-Tech Hub

Ireland, a small island at the edge of the continental shelf, attracts a quarter of the U.S.'s high-tech investment into Europe, although it accounts for a mere 1% of Europe's population. It provides the highest rate of return on that investment, a whopping 24% according to the U.S. Department of Commerce. With phenomenal growth rates (11% in 2000) in real GDP over the past decade , and the highest proportion of exports (90%) of GDP, Ireland has turned itself around from being the poor man of Europe into one of the shining lights of the global economy, earning the epithet of Celtic Tiger and attracting policymakers and planners from all over the world seeking to learn the secrets of her economic success.

Table 5-1. Facts at a Glance ” Ireland

Population	3.6 million
Population under age 25	40%
Work force	1.5 million
Estimated work force under 25 in 2010	36%
GDP per capita in 2000	$24,000
Real GDP growth in 2000	11%
Unemployment rate in 2000	3.6%
Number of foreign multinational corporations (MNCs)	1,212
Employment in foreign MNCs	140,000
Computer equipment as percentage of exports in 2000	23%
Total number of software companies	840
Total employment in software companies	30,000
Foreign software companies	140
Employment in foreign software companies	15,000
U.S. corporations as percentage of MNCs	41%
Source: IDA Ireland, www.idaireland.com.