Whilst Ireland is already known for its gorgeous nature, Paddy’s Day, and the creation of one of the best beverages out there – there’s still so much more it has to offer the world. Chiefly, it has a surprisingly innovative tech sector that has been growing steadily in recent years. But let’s take a deeper look at this below.
The Rise of Dublin as a Tech Hub
Thanks to its strategic location in Europe, Ireland quickly became a base for many tech companies, especially when it comes to US tech giants. Some examples include Google, which has made Dublin its European headquarters and Apple, with a major campus in Cork. Even Uber holds an office in Limerick, while Amazon followed Google’s choice of Dublin for its fulfilment centre.
However, this isn’t simply limited to foreign businesses opting to open a location in Ireland. The region is also home to its own successful companies. One such company is Paddy Power, founded in 1988 in Dublin, Ireland and part of the iGaming sector. The iGaming sector provides uses with access to several online gambling options. For instance, users can play bingo for free at Paddy’s, rather than being limited to physical bingo halls. The sector has welcomed several technological advancements, such as mobile gaming, that ensure the prosperity and longevity of their services.
These factors have led multiple startups to pick Ireland as their hub, acknowledging the fact that it provides a prime location in Europe. Moreover, strong government incentives and support have further made it the ideal area for such ventures. Some of the best startups in Ireland to watch are Wayflyer, Everseen, and NomuPay.
The Impact of Ireland’s Tech Industry on the Economy
The booming tech sector has positively impacted the economy of Ireland in multiple significant ways. For starters, the revenue of tech businesses tends to be a major contributor to Ireland’s tax revenue, reaching 17% as advised by the Irish Revenue Department.
The developments have also greatly improved employment rates, with over 120,000 workers in ICT, as per the Central Statistics Office. This number is poised to continue rising as the sector continues growing, creating thousands more job opportunities. This has also led professional talent from all over the world to flock to Ireland, further contributing to increased consumer spending.
In terms of investment, many investors are looking to invest in the flourishing tech ecosystem, making Ireland a great option for investors. Also, since Ireland has been put on the map as a tech hub, it has ensured that other sectors outside of technology choose this place to make their home, further boosting the economy.
Ireland is poised to become one of the leading countries when it comes to tech, and this will continue to have a far-reaching impact on the economy, employment and investment. As such, whether you’re a professional, business owner, or investor, we’d suggest keeping a keen eye out on anything and everything the Irish tech sector has to offer.