Is the Luck of the Irish Running Dry?

Ireland's economy grew very favorably during the 1990's. It was a stellar example of an economic turnaround. According to recent reports however, the situation is changing as Ireland struggles with the ripple effects of the global economic recession and increased competition for business investment. Growth has slowed and investment deals are down to a trickle.

Ireland's economy doubled in size in the last decade. Scores of technology companies from the U.S., Japan, and other European nations, rushed to Ireland to set up new quarters.

Ireland is truly a major economic development success story, even with its recent setbacks. IDA, or the Irish Investment and Development Agency, has been very aggressive in the global business investment marketplace. IDA is one of the best worldwide.

Where has IDA been focusing its attention? The following industries have received considerable attention in recent years: electronics manufacturing, software, healthcare, call centers, engineering, financial services, e-business and other sectors.

What kind of business investment projects has Ireland been landing? The deals fall into the sectors listed above, along with manufacturing, research and other industry sectors. Want to know more? Go here for more information about projects landed over the past 4-5 years.

It's probably not fair to say that the luck of the Irish is running dry, but clearly poor economic performance around the globe, coupled with rising business costs in Ireland and more competition from Eastern and Central Europe, are making it harder for Ireland to continue its foreign direct investment feeding frenzy of the 1990's.

For the latest economic word on Ireland, go here.