FDI Investment in Ireland Continues to Grow - IDA Figures
Ireland won 248 new foreign direct investments in 2023, according to the latest figures from the IDA.
This figure was up 2.5 percent on 2022 figures and has enabled the creation of 19,000 new jobs.
As of the end of 2023, over 1,800 IDA client companies directly employ more than 300,583 people in Ireland. A third of 2023 investments won, were greenfield or first-time investments.
Job growth was recorded in the Modern Manufacturing sector which was up 1.8 percent, Traditional Manufacturing up 0.2 percent and in Business, Financial and Other Services up 0.8 percent.
IDA also reported that 132 investments were secured across regional locations during 2023, representing 54 percent of the overall figure. The total number of regional jobs now stands at 163,471.
The Midlands Region saw the strongest level of growth, up 5.8 percent. There was growth of 2.7 percent in the Border region, and 2.6 percent in the Midwest Region, with the Southwest and Southeast regions up by 1.2 percent and 1.4 percent respectively. Elsewhere, the West Region was down by 1.8 percent whilst Dublin and the Mid East Region declined by 1.2 percent and 4.8 percent respectively.
Expenditure within the economy by FDI companies increased during 2022 despite the prevailing challenging conditions. Payroll was up 12 percent to €22.1bn, Irish services and materials spend increased by 15.7 percent to €13.8bn, and capital expenditure was up 49 percent to €15.5bn. Exports of €383.1bn represent an increase of 11.2 percent year on year.
It comes as AmCham’s latest FDI insights survey found that 91 percent of respondents said their corporate headquarters have a positive view of Ireland as an investment and growth location. Further, 60 percent of respondents said they expect the number of employees in their Irish operations to increase over the next 12 months, while 33 percent expect to maintain current employee numbers.
To engage with AmCham on topics related to growth and expansion in Ireland, please contact Colm O’Callaghan, Director of Public Affairs and Advocacy at c.ocallaghan@amcham.ie.
