Celtic Tiger Case Study

701 Words 3 Pages
In a relatively short amount of time, just over one generation, Ireland has transformed to be one of the world 's most successful countries in Western Europe. The term ‘Celtic Tiger’ was coined to describe Ireland during the first large growth spurt in the late 1990’s where they saw a growth rate over 6%. This first large growth can be attributed to the time when many investors, mainly from the tech sector, flocked to Ireland due to their favorable tax rates of 12.5%, which was 10-15% lower than many other European countries. Another favorable attribute is the fact that they are an English speaking country. With the recent events of Brexit, they are the only English speaking country in European Union. This is an interesting time in Ireland 's history to see if this brings on the next large economic boom or halts growth due to issues around UK-Irish trade.Currently, Ireland exports and imports 20%-30% manufactured goods and services with the UK. Barriers to trade could significantly disrupt Ireland 's growth but on the other hand,multinational companies exiting the UK to come to a more stable environment may offset that disruption. …show more content…
Brexit….seen as an opportunity in the minds of Americans….but still the Irish seem to not want to think or talk about how this could greatly impact their economy or show excitement that this could happen. If something like this happened in the states, it would be like blood in the water and sharks attacking to make sure that we took advantage of any opportunities we could to encourage businesses to move to our country where we would accept them with open arms, provide them with huge tax savings,and remind them the added value of being an English speaking

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