ECONOMICS OF IRELAND
The economy of Ireland is a modern knowledge economy, focusing on services and high-tech industries and dependent on trade, industry and investment.
In terms of GDP per capita, Ireland is ranked as one of the wealthiest countries in the OECD and the EU-27 at 5th in the OECD-28 rankings as of 2008. A 2005 study by The Economist found Ireland to have the best quality of life in the world. The 1995 to 2007 period of very high economic growth, with a record of posting the highest growth rates in Europe, led many to call the country the Celtic Tiger. One of the keys to this economic growth was a low corporation tax, currently at 12.5% standard rate. As of 2015, Ireland was ranked as the world’s ninth most “economically free” economy in an index created by free-market economists from the Wall Street Journal and Heritage Foundation, the Index of Economic Freedom.
Dublin is the largest city and capital of Ireland, and is the country’s economic hub. As well as being the location of the national parliament and most of the civil service. In 2017 Dublin ranked 1st in Ireland by disposable income per person, at 110% of the State average.