In 2023, foreign direct investment (FDI) in Ireland slipped, with the number of projects decreasing to 100 from 184 in the previous year. The distribution of these projects saw Dublin leading with 47%, followed by the South West at 23%, the West at 11%, the South East at 6%, the Mid East and Border regions each at 2%. Ireland ranked 11th in Europe for FDI projects last year, down from 10th in 2022. The outlook for 2024 and beyond appears brighter, with 79% of respondents planning to establish or expand operations, up from 53% in 2023, and 66% believe Ireland's attractiveness will increase over the next three years. Dublin ranked 7th in Europe for city attractiveness.
Respondents have identified clear policy areas for Ireland to concentrate on, including skills (36%), geographic balance (32%), transport (29%), energy (27%), and connectivity (23%). 51% suggest that Ireland should bolster support for high-tech industries and innovation. As for investment intentions over the next three years, 53% of respondents are looking to invest in IT infrastructure and digital technology, 51% in cybersecurity, and 40% in AI and machine learning. The attractiveness of Ireland for AI investments is attributed to the opportunities to invest in AI startups (47%), a supportive policy framework (43%), an AI-ready workforce (41%), and a strong AI ecosystem (41%).