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Learn Your World – Ireland

To support your global practice, ACC Docket offers country-specific fun facts from your peers who've been there — literally.

Economy

GDP (purchasing power parity in USD)
$226.8 billion


Population

4,609,600 (2014 estimate)


Corruption

According to Transparency International’s “2014 Corruption Perception Index,” Ireland is the 17th “cleanest” (i.e., least corrupt) country out of the 175 surveyed.


Economic Forecast

Economic growth is expected to be robust and broadly based in 2015 and 2016. Exports will continue to be strong due to increasing demand in trading partners and the depreciation of the euro. Household consumption will gather pace with employment and wages rising steadily and with low energy prices, according to the Organisation for Economic Co-operation and Development.


Additional Resources

The Irish Times, a national newspaper. www.irishtimes.com

Ireland tourism. www.ireland.com

A

s a longstanding member of the European Union, Ireland offers instant access to the European marketplace, but its geographic location also means a time zone which can connect easily to Asia in the morning and the United States in the afternoon, bringing attractive opportunities for organisations to effectively structure their international expansion plans. Ireland’s tax regime is one of the most favourable in the world for businesses and, combined with Ireland’s highly advanced IP, research, and development regimes, creates many opportunities for companies to reduce their effective tax rate. Ireland prides itself on having a highly skilled, well- educated, and English speaking workforce which is one of the youngest in Europe, and Irish law is based on the common law tradition familiar to North American, British, and Commonwealth businesses. For these reasons and more, in 2013, Forbes magazine named Ireland the best country in the world to do business in.

As a people, the Irish are keen to learn, positive in attitude, and not afraid to work hard. In general, Irish business executives are less formal than their European counterparts and the use of first names at an early stage of a business relationship is usual. However, principles of customary business courtesy, especially replying promptly to queries, are a prerequisite for success and should be practiced. Friendship and mutual trust are highly valued and, once earned, a productive working relationship can be expected. Suits, rather than blazers and slacks, are the norm and are recommended for business meetings and functions.

Away from the office, Ireland boasts a rich culture of art, literature, music, and sports, so whatever your interest there is something for you. The Irish pub continues to be a social and community hub, and Irish themed pubs in cities throughout the world have attempted to recreate its unique atmosphere. It is a country of surprises too: by way of example, many have been surprised to learn that some of the best surfing conditions in the world can be found on the west coast of Ireland.

About the Author

Patrick Ambrose is the chief legal officer of DLL Ireland, a subsidiary of Rabobank.