Some 79% of decision-makers are planning to establish or expand operations in Ireland over the next 1 2 months, an EY Attractiveness Survey has revealed.

It shows Ireland’s appeal as a location for Foreign Direct Investment (FDI) remains strong following a challenging 2023 for FDI across Europe.

A large majority of business leaders surveyed, 79%, said they plan to expand or establish their operations in Ireland in the next 12 months, up from just over half (53%) in last year.

Two-thirds, 66%, say they expect Ireland to become more attractive to FDI over the next three years – up from 46% in the previous survey.

Positive investment intentions were particularly strong among investors in financial services (95%), pharmaceuticals and chemicals (90%), and very large companies (89%).

The report noted that investors have highlighted that the right mix of skills in our workforce, together with focus on improving geographic balance and infrastructure, are important areas for Ireland to bolster its appeal for FDI.

They also recommended supporting high-tech industries and innovation.

On a geographic basis, the survey showed a broad regional spread with some investors considering more than one location as attractive for future investment.

Dublin ranked highest at 47%, with the southeast at 41% and the mid-east at 38%.

EY Ireland’s Feargal de Freine said: “Ireland’s FDI model has been highly successful for decades, centred on talent, business-friendly policies, stability and access to Europe’s single market.

“However, the global FDI landscape is changing and becoming more challenging.

“It is therefore important to understand investor perspectives and competitor offerings to ensure the continued relevance and attractive - ness of the Irish proposition.”

*This article was originally published on Business Plus.