Guidance

Overseas business risk: Ireland

Updated 22 May 2025

1. Political and economic

1.1 Economic

Ireland is a small and open economy with a strong reputation for attracting foreign direct investment. Ireland ranks 24th in the World Bank’s Ease of Doing Business Index 2025 (UK 8th).

Companies have been drawn to doing business in Ireland for a number of reasons including: access to the EU single market, its well-educated and English speaking workforce, low corporate tax rate, common law legal system and strong regulatory system.

Ireland experienced growth in its domestic economy in 2024 due to record employment of 2.8 million and bumper tax revenues of €108 billion. EY forecasts Irish GDP to increase by 4% in 2025 and 3.8% in 2026; Modified Domestic Demand to grow by 3.3% in 2025 and 3.2% in 2026. Employment growth of 2.2% in 2025 and 2% in 2026. Inflation averaging 2% in 2025.

Domestically, the country still sees strong levels of demand for infrastructure, goods, and services, and, if anything, the country’s biggest challenge is meeting its own domestic demand.

The UK is Ireland’s second-largest trading partner, with bilateral trade worth approximately €100 billion annually. The recent UK-Ireland summit focused on enhancing strategic cooperation and addressing supply-chain challenges.

Overall, Ireland has made substantial economic commitments to public infrastructure in the areas of healthcare (€25.8 billion in 2025) and transportation (€120 billion through to 2040) over the next years. In addition, the Government has ambitious energy targets to generate 80% of electricity from renewable sources by 2030; providing investment and commercial opportunities for sectors such as offshore wind.

Ireland’s Department of Finance produces regular macroeconomic forecasts and reports regarding the potential impact of COVID-19 and the UK’s departure from the EU on the Irish economy.

1.2 Politics

The latest political landscape in Ireland has been shaped by the general election held on November 29, 2024. Fianna Fáil emerged as the largest party, securing 48 seats, followed by Fine Gael with 38 seats, and Sinn Féin with 39 seats. Despite Fianna Fáil and Fine Gael’s combined strength, they fell short of a majority, leading to ongoing coalition talks. The Green Party, previously a significant player, saw a dramatic reduction, retaining only one seat. Key issues during the election included the cost of living, housing affordability, immigration, and economic stability.

2. Human rights

In June 2014, the Irish government committed to developing a National Plan to support the implementation of the UN Guiding Principles on Business and Human Rights and to provide Irish companies with guidance on how to ensure respect for human rights in their activities. Updates on the National Plan are provided by Ireland’s Department of Foreign Affairs and Trade.

In 2016 the UN Human Rights Commission conducted a Universal Periodic Review (UPR) of Ireland’s human rights record. The UPR review process allows countries to highlight the steps they have taken to fulfil their human rights obligations and to promote human rights in their countries. States also offer recommendations to other States with a view to improving their human rights situations.

In its opening statement Ireland identified a number of human rights priorities for the country: tackling homelessness; creating more non-denominational schools; reviewing legislation for hate crime; developing a national action plan on trafficking; improving early years for children; introducing paternity leave and producing a national women’s strategy to reduce discriminatory pay and gender systems.

The Irish Human Rights and Equality Commission (IHREC) is Ireland’s national human rights and Equality institution. It is an independent public body that has an ‘A’ status as a national human rights institution. The purpose of the IHREC is to promote and protect human rights and equality in Ireland and build a culture of respect for human rights, equality and intercultural understanding.

3. Bribery and corruption

Bribery is illegal. It is an offence for British nationals or someone who is ordinarily resident in the UK, a body incorporated in the UK or a Scottish partnership, to bribe anywhere in the world.

In addition, a commercial organisation carrying out business in the UK can be liable for the conduct of a person who is neither a UK national or resident in the UK or a body incorporated or formed in the UK. In this case it does not matter whether the acts or omissions which form part of the offence take place in the UK or elsewhere.

According to Transparency International’s Corruption Perceptions Index, Ireland ranked 10th in 2024 (the UK was 20th).

4. Terrorism

See the relevant page of the FCDO’s travel advice for Ireland.

5. Protective security

Most visitors to Ireland experience no difficulties during their stay, providing they take sensible precautions as would be advisable in any developed country. See the FCDO’s travel advice for more details.

6. Intellectual property

See Irish Patents Office for information on intellectual property in Ireland.

7. Contact

Contact the Department for Business and Trade (DBT) team in Ireland for further information.

You can also view DBT’s exporting to Ireland guide.