Dublin: American companies continue to view Ireland as an attractive destination for investment, with the vast majority planning to expand operations and increase hiring despite ongoing economic challenges, according to a new survey by the American Chamber of Commerce Ireland (AmCham Ireland).
Released to coincide with the 250th anniversary of US Independence Day, the survey found that confidence among US multinationals operating in Ireland remains strong. More than 1,000 US-owned companies currently operate in Ireland, employing approximately 245,000 people across the country.
According to the survey, 95% of companies said they would choose Ireland again for their initial investment if given the opportunity, while seven in ten plan to make additional investments in the country over the next five years.
Paul Sweetman, Chief Executive of AmCham Ireland, said the findings demonstrate that member companies continue to regard Ireland as one of the world’s most attractive locations for business and investment.
The survey also indicates continued employment growth. Around 90% of respondents said they intend to maintain or expand their workforce in Ireland over the next year, with half planning to recruit additional employees within the next 12 months.
Looking further ahead, 70% of member companies reported that their global headquarters are planning to increase investment in Ireland during the next five years.
Technology investment also remains a major priority. Nearly two-thirds of companies said they expect to increase spending on artificial intelligence (AI), automation and data analytics over the coming year, while 51% plan to invest in upskilling and training their employees.
Housing, Costs and Energy Remain Key Challenges
Despite the positive outlook, the survey highlighted several concerns affecting Ireland’s competitiveness.
About one-third of respondents identified cost competitiveness as the biggest challenge to future investment and business expansion. Housing shortages were cited by 27% of companies, while more than half expressed concerns about the country’s energy infrastructure and security of supply, saying they lag behind competing investment locations.
The report concludes that rising business costs, housing availability and energy infrastructure represent Ireland’s most pressing short-term challenges, while housing shortages and wider public infrastructure constraints pose the greatest long-term risks over the next five years.
Commenting on these issues, Paul Sweetman said the Chamber’s Accelerating Infrastructure Task Force is working to support major investment in infrastructure projects worth billions of euros, aimed at strengthening Ireland’s competitiveness and sustaining future economic growth.
Irish Samachar English