Throughout this trip, we have learned so much about the Irish culture, especially when it comes to business. The Irish economy has been growing for the last 10 years but has really skyrocketed over the last 4-5 years due to the huge technology boom. This huge technology boom was in large part to the huge multinational technology corporations moving into the country because of very beneficial tax rates.
It is very prominent that Dublin is a rapidly growing city and I think this will continue over the next few years to come. I think Dublin is becoming a very important tech hub for all of these companies in Europe and I think they will continue to expand and that more will see this and also have a presence in the city. In terms of the economy, I think this will be very beneficial for not only Dublin but the entire country of Ireland to have so much foreign investment coming into the country. All of these huge companies being in the city will continue to globalize the city which will have its benefits in terms of boosting the economy but I am also worried it may have some negatives to follow it.
These huge companies tend to impose their will and culture on the cities they are located in and I am worried that some of the rich Irish cultures may get lost if the city continues to grow so rapidly. Along with the culture, I am worried that with so many huge companies in Dublin they will take control of the talent pool and steer many of the young educated people to move away from entrepreneurship.
After our lecture from Raymond Bowe from IDA yesterday I think Ireland recognizes the fact that Dublin might be becoming too saturated and will try to persuade huge companies to move into their other towns around the country. I think this will be the most beneficial for Ireland because it will allow many of the other cities to grow just as Dublin has and will create huge economic growth throughout the country.