Is Ireland the new gateway to Europe?

Brexit has been high on the agenda for most UK enterprises since the referendum. Agree or Disagree it will now form part of the UK’s fabric; we now just wait to see what the actual pattern will look like.

Many US institutions operating in Europe have opted for the UK as their European HQ. The ability to operate in a stable economy, with strong tax incentives, harmonious visa processes and English as the 1st language has created a long-established bedrock of some of the most renowned corporations in the world.

With Brexit drawing ever closer, these same institutions are now assessing whether the UK can still be that gateway, or will they need a new access point to Europe. Ireland seems to be the logical choice. With many US connections, no language barriers, we have already seen a massive boom in the Irish market.

Dublin has already become one of Europe’s leading technology hubs, with a mix digital leaders like Google, Facebook & LinkedIn opting to build a major presence in this beautiful city.

With last month’s announcement from JP Morgan regarding the purchase of 200 Capital Dock and 1,000 new roles and the already established centres for FS giants such as Citibank, BNY Mellon, Chase & BAML. Could this be a sign of things to come? And if it is how will this city cope?

My biggest concern is the need for increased infrastructure, accommodation and schooling.

One such example being a recent Cyber Security Director placed by our Irish team; she nearly couldn’t complete her relocation to Dublin due to the lack of availability for schooling for her children. These are the very significant issues that could impede the growth of many of these exciting businesses, and even shut the gate to many of these corporations.

For sure, Ireland has a very real opportunity to become the new European gateway for the US – but it will need to meet the increasing demands for skills, infrastructure, schooling and accommodation, if its to fulfil this potential.

CloudStream already operates extensively throughout Ireland, working with many Digital & FinTech companies to address these existing skills shortages. With such a potential influx of new companies and expected growth across the established - where and how will these needs be met?

If you are looking to grow your Irish operations domestically, relocate talent from mainland Europe or need talent advice, please don’t hesitate to contact either of our Irish Country Directors - Ronan Tierney [email protected] or Brian Crimmins [email protected]