Over half of American companies with operations in Ireland expect to increase employee numbers in the next 12 months, but housing remains their biggest barrier to growth.
That is according to the latest survey from the American Chamber of Commerce Ireland, published to coincide with 4th of July celebrations, which shows that the vast majority of members were optimistic about Ireland’s economic potential.
97% of the companies surveyed believe Ireland is competitive when compared to other advanced economies.
Over half of respondents said the main reason for this was the highly educated and skilled talent pool.
Nine in ten of the companies surveyed said their corporate headquarters has a positive view of Ireland as an investment or growth location.
However, 40% said housing is the biggest challenge for Ireland to overcome for their company to invest and expand here. This was down from 49% in AmCham’s March survey.
Some 19% said cost competitiveness was the most important challenge, while 12% said skills shortage was the number one challenge.
Almost 60% of respondents said housing required the most urgent investment from Government, followed by transport infrastructure at 14%, and energy at 14%.
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When asked what the priorities for Ireland should be regarding climate, 59% of respondents said investing in renewable energy solutions.
Over a third said tax incentives for businesses to implement more sustainable practices should be a priority.
“Smart policy and investment decisions can sustain Ireland’s reputation as a powerhouse in sustainability, research, talent and digital infrastructure in the years and decades ahead,” said Paul Sweetman, CEO of American Chamber.
“Our pre-budget 2025 submission outlines how we believe Ireland can continue to attract business and people to its shores,” he added.