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Ireland is an open economy (3rd on the Index of Economic Freedom), [27] and ranks first for high-value foreign direct investment (FDI) flows. [28] In the global GDP per capita tables, Ireland ranks 2nd of 192 in the IMF table and 4th of 187 in the World Bank ranking. [29] [30] Social expenditure stood at roughly 13.4% of GDP in 2024.
A list of "high risk" countries for international travel was published by the Government on 26 January 2021, which included Brazil and South Africa. [235] All people travelling into Ireland from the countries on the list would be required to quarantine at a hotel for a period of 14 days. [236]
A pathway to a strong, resilient economy, aligned with the Government's green and digital ambitions [11] [12] Learn lessons from the pandemic by building a balanced and inclusive recovery, which leverages new ways of working, and by improving labour market supports and living standards [ 11 ] [ 12 ]
From 1991 to 2001, Ireland's real gross domestic product (GDP) growth averaged above 7% and there was a large expansion in the workforce. From 1990 to 2000, the Irish gross national product (GNP) per capita rose 58%, bringing it above the European Union average. [9]
Distortion of Ireland's GDP. Ireland's GDP is artificially inflated by the BEPS flows of Ireland's Multinational tax schemes. [4] In 2018, Eurostat found 25% of Ireland's 2010-14 GDP was BEPS flows (no taxable impact). [25] In Q1 2015, Apple restructured its Irish BEPS tools, which required Irish 2015 GDP to be restated by 34.4%.
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A second noted EU perspective is that if U.S. multinationals need Ireland as a BEPS hub because the pre–TCJA U.S. "worldwide" tax system did not enable them to charge IP direct from the U.S. (without incurring larger U.S. taxes), then the money Ireland extracts from these U.S. multinationals (e.g. some Irish corporate taxes and Irish salaries ...
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