Ireland attracted 191 foreign direct investment (FDI) projects in 2019, increasing its rank in the European league table of most attractive destinations to eighth from tenth, according to the EY European Attractiveness Survey, which was published today. 

The field research was conducted by the CSA Institute in January and February 2020, based on a representative panel of 504 international decision-makers. Data collected around the impact of COVID-19 on FDI in Europe was conducted by Euromoney in April 2020, based on a representative panel of 113 international decision makers and a series of webinars with 30 European investment promotion agencies.

The survey shows that following exceptionally strong levels of investment in 2018, when there were 205 FDI projects, the number of projects in 2019 declined by 7%, but Ireland continues to hold first position for the greatest number of projects per million population.

Ireland achieves eighth position in the Top 10 Most Attractive European Locations for FDI in 2019 out of 47 countries, improving its position from tenth in 2018.

While COVID-19 is expected to interrupt some project realisation, EY analysis shows that 80% of FDI projects in Ireland are likely be maintained.

Commenting on the research, Partner and Head of FDI, EY Ireland, Feargal De Freine said, "The impressive performance of investments in digital tech and business services are noteworthy features of Ireland’s performance in 2019. While a reduction in the total number of projects may attract attention, it’s important to note that Ireland’s strategy has been to focus on the value and quality of the FDI it attracts rather than the volume. The new projects secured reflect an extension of the investor and project base, with 61% representing new projects, rather than solely building on past successes."

Source: www.businessworld.ie