Lucintel PESTLE Analysis of Ireland 2013: Service Sector to Attract Ample Foreign Direct Investments and Drive the Economy

Recovery of global economy, particularly Europe is likely to impact the growth of the Irish economy. The service sector is the major contributor with 72% share in GDP. Apart from hi-tech and energy industries, financial intermediaries are driving the Irish economy. IT, communication, media, and renewable energy industries are likely to drive the Irish economy. The Irish economy is likely to grow to $263.9 billion at the current price by 2018 at a CAGR of 2.5% during 2013-2018.

Lucintel, a leading global management consulting and market research firm, has conducted a detailed analysis on this economy and presents its findings in “PESTLE Analysis of Ireland 2013”. The study indicates that Ireland is facing economic and social challenges due to high sovereign debt, low foreign exchange reserves, and high unemployment rate. The country witnessed recovery in current account balance and fiscal situation of the government with reducing fiscal deficit. The report highlights the major drivers of the economy.

The entertainment and media industry is one of the emerging industries in Ireland. Continuous digital innovation in Ireland led technology-based industries to grow with higher rate. The entertainment and media industry is set to grow with annual average growth of 4.2% during forecast period. Another emerging industry in Ireland is renewable energy industry. Renewable energy resources are abundantly available in Ireland, but only a fraction of these resources have been tapped so far. Renewable energy accounted for 15% of total energy requirements of Ireland in 2012. The Irish government has committed to increase this to 33% by 2020. 40% of electricity, 10% of transport consumption, and 12% of thermal consumption are targeted from renewable energy by 2020.

Lucintel highlights the key challenges faced by Ireland. The country faces economic and social challenges including high sovereign debt and high unemployment rate. Government internal debt had increased sharply in 2010 due to economic crisis and fund generated within the economy by issuing bonds. External debt also increased as debt taken from other European countries resulted in overall increase in government total debt. Major social concerns for the country include increasing unemployment rate which will affect the income levels and purchasing power.

This report includes in-depth analysis of the political scenario, economic and business risk, social and technological analysis of Ireland’s economy. This report provides knowledge on leading as well as the emerging industries in the country.

For a detailed table of contents and pricing information on these timely, insightful reports, contact Lucintel at +1-972-636-5056 or via email at helpdesk@lucintel.com. Lucintel provides cutting-edge decision support services that facilitate critical decisions with greater speed, insight, and cost efficiency. To learn more, visit www.lucintel.com.

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