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Dublin stands as the economic centre of Ireland, playing a pivotal role in the country's growth, especially during the Celtic Tiger period. As of 2009, Dublin was recognized as the fourth richest city in the world by purchasing power and ranked 10th in personal income. According to Mercer's 2011 Worldwide Cost of Living Survey, Dublin was the 13th most expensive city in the European Union, reflecting the city’s high standard of living and its growing economic prominence.
The Greater Dublin Area is home to approximately 874,400 employees as of 2017, with nearly 60% of Ireland's workforce in the financial, ICT, and professional sectors concentrated here. While traditional industries like food processing, textile manufacturing, and brewing have declined over the years, Dublin has embraced a new wave of global industries. Notably, the tech sector has flourished, with international giants like Microsoft, Google, Amazon, Facebook, Pfizer, and TikTok establishing their European headquarters or operational bases in the city. This influx has earned Dublin the moniker of the "Tech Capital of Europe."
In addition to technology, financial services have become a key pillar of Dublin’s economy, particularly with the establishment of the International Financial Services Centre (IFSC) in 1987. The IFSC now hosts over 500 operations, including major banks and insurance companies. Companies such as Citibank and the Irish Stock Exchange (ISEQ) have solidified Dublin’s position as a global financial hub, making it an attractive destination for businesses seeking to maintain access to the Eurozone post-Brexit.
During the Celtic Tiger years, Dublin experienced a boom in construction and redevelopment, particularly in the Dublin Docklands and Spencer Dock areas. This period saw the completion of major landmarks such as the Convention Centre, 3Arena, and Bord Gáis Energy Theatre, further cementing Dublin’s status as a leading global city for business and culture.
Despite its economic success, Dublin faces challenges, particularly in the areas of unemployment and cost of living. In 2018, the city saw its lowest unemployment rate in a decade at just 5.7%, but by November 2022, it was ranked among the worst cities in the world for travel, health, and living costs. Public protests against rising living expenses have underscored the tension between the city’s economic growth and its affordability for residents.
As of 2024, Dublin boasts a Gross Domestic Product (GDP) of €253.6 billion, making it one of the largest city economies in the European Union. The city’s blend of historic industries, thriving tech and finance sectors, and global business presence ensures that Dublin remains at the forefront of Ireland's economic landscape, continuing to shape both national and international markets.