City Spotlight: Dublin

Dublin is the Emerald Isle’s economic, political and cultural heartbeat. Music, culture, history and nature at its finest, form a multifaceted backdrop to its many business advantages. Dublin and Ireland in general, have been through a rough few years economically but now things are starting to look up once again. Here’s everything you need to know about Dublin…

• Many countries in the EU have been hard hit by the recession since the collapse in 2007 and Ireland is no exception. However, the Irish government recently announced that its 7.7 per cent annual growth rate makes it the fastest growing economy in the European Union. The Nevin Economic Research Institute recently announced too that the economic recovery of Ireland was exclusively concentrated in the capital.
• Name an internet or tech giant and the likelihood is that they’ll have an office or European headquarters in Dublin. It’s home to 10 of the top 10 global ICT companies and 9 of the top 10 global software companies.^[i] The Silicon Docks area of the city (a name play on Silicon Valley) plays home to many of these giants and keeps an estimated 7000 people in employment. ^[ii]Companies located in Silicon Docks or other areas of the city include Google, Facebook, LinkedIn, Twitter, Microsoft, Dell, Airbnb and j2 Global to name just a few.
• 840,000 people are employed in the Dublin region according to the city’s Chamber of Commerce. Businesses including household names such as Jury’s Inn, Paddy Power, Primark, Ryanair and Aer Lingus were either founded or are headquartered here.
• Several leading global companies have just announced the creation of new jobs in the Dublin area. LogMeIn will create 90 jobs over the next three years, Airbnb 200 new positions in the coming months, Lexis Nexis 70 new jobs, American Biopharmaceutical 40 new jobs, and the construction of a new campus in the city by Microsoft will create 150 new roles.

• The International Financial Services Centre (IFSC) was created to promote Ireland as a leading place for international financial service companies, and has banks such as Citibank trading within it. It states that it provides total direct employment of 32,700 and contributes to 7.4 per cent of the country’s GDP.
• Like any major European city, tourism is vital for Dublin’s economy. The Temple Bar area, Dublin Zoo and other attractions such as The James Joyce Centre keep the visitors coming. In 2013 the city attracted 3.9 million international visitors, generating €1.4 billion in revenue. The boom continued in 2014: occupancy rates for hotel rooms in the city reached nearly 80 per cent, the highest level since before the recession.^[iii] Fáilte Ireland, the country’s National Tourism Development Authority, has stated that more hotels will be needed to cope with the sustained increase in Ireland’s popularity among global travellers.
• And we couldn’t have a blog on Dublin without mentioning the one thing that goes hand in hand with the city, Ireland and anything Irish for that matter; Guinness. 10 million pints of Guinness are manufactured every day at St James’s Gate Brewery and 1.8 billion pints are sold globally every year. The Guinness Storehouse is the city’s most visited tourist attraction and helps to keep 150 people in employment. ^[iv]

Did you know?

• The name Dublin originates from the old Gaelic words ‘Dubh’ and ‘Lin’ which translate into ‘black pool’. The ‘black pool’ refers to the where the River Poddle enters the River Liffey, the river that flows through the city.
• The city has many famous sons and daughters including George Bernard Shaw, Bram Stoker, Oscar Wilde, Bono, Bob Geldof, Sinead O’Connor,  Jonathan Rhys Meyers, just to name a few.
• The Brazen Head on Dublin’s Bridge Street Lower is said to be Ireland’s oldest pub and has been on the same site since 1198.
• Handel’s legendary Messiah received its world premiere in the city on 13 April 1742.
• Leo the Lion, the lion in the opening of MGM films was born and reared in Dublin Zoo, rooooaaaaooowwwwww!

If your business isn’t based in Dublin, but you’d like a virtual presence there today by acquiring a local 01 number, then let us know – we’re here to help.

^[i] Dublin Chamber of Commerce, http://www.dubchamber.ie/policy/economic-profile-of-dublin
^[ii] Finfacts, http://www.finfacts.ie/irishfinancenews/article_1028633.shtml
^[iii] Dublin Chamber of Commerce, http://www.dubchamber.ie/policy/economic-profile-of-dublin
^[iv] Guinness Storehouse, http://www.guinness-storehouse.com/en/PressRelease.aspx?prid=61