Change

The recent, rapid transformation of Ireland and the economy is clearly evident. Transitioning from a self-sufficient is most prominent in the docklands. Large tech and financial firms now call the former docklands home: Google, Meta, Citi Bank, etc. Past policies such as the low corporate tax rate and incentives for companies to establish offices ignited this growth and change in the economy. High-skill/high-paying jobs do wonders for overall GDP metrics but have other effects as well.

The relatively recent change to a free, national university system generated a large, specialized workforce for corporations to take advantage of, with the low tax, and move into Ireland. Transitioning from a low amount of disposable income to a larger amount allowed more shops and cafes to open. The most significant effect comes from housing. What was once the docklands is now large firms surrounded by luxury apartments, the image as an example. As a result, housing and renting prices have largely increased, affecting the middle and working class. Coupled with the 2008 crash, many of natives lost housing, now owned or rented by those working in and around the docklands.

Aside from some of the negatives, Ireland is an educated, young country with around 33% less than 25. The youth provide a positive, energetic, and new way of thinking, all surrounded by helping others. A more diverse population is emerging with the many job opportunities available.

Often you think of only the positives of large firms bring with respect to high-paying jobs. However, impact that can have on the costs of living for lower-income individuals is important to balance as well.

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