Tag: Irish economy

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Unexpected Chinese Boost for Irish Tourism

Michael Green

In the wake of the unexpected blossoming of the Irish whale-watching business the Irish tourist industry is today celebrating another notable boost. In a surprising boost for Irish tourism the Chinese ‘Oriental Morning Post’ newspaper has declared that Ireland is the world’s best travel destination. A poll conducted by the newspaper was announced at the ‘World Travel Awards’ in Shanghai. The vote of confidence for the Irish tourist experience follows on from the 2012 ‘most charming destination’ award from the Beijing ‘Life Style’ magazine. As many as two million Chinese tourists visit Europe every year but clearly Irish Tourist businesses … Continue reading Unexpected Chinese Boost for Irish Tourism

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Irish Property Market May Rebound

Michael Green

The part that the collapse in the Irish property market played in destroying the Irish economy has been well documented. The 2007 height of the market now seems like an eternity ago with prices falling by as much as 47% according to the Irish Central Statistics Office (CSO). The market collapsed, the banks collapsed, the economy collapsed. The EU, IMF and ECB provided loans to Ireland to keep the country running on condition that part of these loans was used to pay back bondholders in Europe, many of whom were based in Germany and France. The punitive rate of interest … Continue reading Irish Property Market May Rebound

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Sixth Successive Austerity Budget May Be The Final Straw

Michael Green

The annual budget announced by the Irish Government has been received with a greater degree of anger and protest than previous announcements. This is the sixth successive austerity budget that Irish Governments have enacted. All have been unpopular but this latest budget may represent a tipping point. Already reeling from years of tax hikes and cuts in services the Irish public had elected Fine Gael and the Labour Party on the basis that a new direction would be taken. A very different direction from that followed by the previous Fianna Fail administration. It is not that the Irish people expected … Continue reading Sixth Successive Austerity Budget May Be The Final Straw

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Ireland Ranked 25th Most Corrupt Country in 2012

Michael Green

The Berlin based watchdog ‘Transparency International’ has released its latest report regarding national public sector corruption. The new study uses metrics such as the independence and efficiency of the state judicial system as well as the effectiveness of oversight of public spending to compile the list. According to the latest results Ireland has fallen from 19th place last year to 25th place in 2012. The study measures the perception of corruption, given that most corrupt dealings are secret or never detected. Of the 176 countries that were analyzed Greece ranked in 94th place, the worst of any EU country. Widescale … Continue reading Ireland Ranked 25th Most Corrupt Country in 2012

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Ireland is Tenth Best Educated Country in OECD

Michael Green

One of the many consequences of the ‘Celtic Tiger’ economic boom in Ireland during the late nineties and early part of the new century was that there was a lot of investment in education. A recent report by the Organization for Economic Cooperation and Development (OECD) measured the extent to which the population of a country held a college or college equivalent degree. Between the years 2000 and 2010 the percentage of people with a higher level qualification in Ireland almost doubled, increasing at an annualized average rate of 7.3% – an amazing increase by any standard and this is … Continue reading Ireland is Tenth Best Educated Country in OECD

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Unfinished ‘Ghost Estates’ a Huge Problem in Ireland

Michael Green

The property boom that gripped Ireland during the 1990’s and the early part of the new century had a dreadful far-reaching effect when property prices crashed. The leading banks in Ireland had to go cap-in-hand to the Government for a bail-out which in turn bankrupted the economy and resulted in extensive loans being required from the EU/IMF ECB troika. On a wider perspective the property crash decimated the economy but also caused a lot of problems on a micro level too. Many Irish couples bought starter apartments in the hope that they could move to a bigger house when their … Continue reading Unfinished ‘Ghost Estates’ a Huge Problem in Ireland