Usain Bolt of economy growth
Ireland was and will be the European country with fastest GDP (gross domestic product) growth. It is more impressive when you realize that other EU members are still in crisis stagnation. The growth should reduce unemployment from 9.8 to 7.8%.
What do these indicators mean for us? Firstly, companies from foreign countries will be investing more. A lot of money will show up in economy. The salaries will grow and employees will have more opportunities to find the job they want.
Next year Ireland should be a very interesting place to move on for people from Southern Europe where prospects for economies are much worse. Greece still has huge liabilities and unemployment in Spain will be over 20% generally and close to 50 % among youths. New people are desired by each country because they are producing and consuming products.
All of this information was published in the last few days by The European Commission. They can obviously change. So it is very important now for Irish politics to not to do anything fancy and keep the economy stable. Nearly all European countries are now spending more money than they are earning and this is our biggest, unchangeable danger from many years.
What is making Ireland so interesting for foreign entrepreneurs? Mostly – taxes. They are much lower than in different parts of Europe and, what maybe more important, is that they are very simple. Moreover, people from different countries should also see how citizens of Dublin are integrating with foreigners. If your place is friendly for foreigners, it is also friendly for money.
According to predictions, Ireland shouldn’t have inflation this year. This means that at the same time, when salaries will be growing, prices will not change. As it is now, we have only good information for Ireland’s future. What’s more, according to World Bank data, the Third World countries are generally (without war places like Syria) getting better to live. At the same time The EU (with exceptions) remains stagnant. So it’s really enjoyable to see from perspective how fast the train called “Irish economy” is.