Ireland's Economic Miracle

Topics: Investment, Economy, Unemployment Pages: 4 (1323 words) Published: March 26, 2011
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Ireland's economic miracle
When we look back 20 or 30 years ago in Ireland, the impression it give us is difficult to get rid of poverty. Indeed, the image of “European beggar” has described the situation of Ireland in 20years ago vividly. Ireland was originally a British colony, and has Declare Independence in 1949. Traditionally, Ireland is an Agriculture-oriented and animal husbandry-oriented country with a limited resource, relatively backward economy, and a high unemployment Rate internal-oriented economy. In history, it also had the title of "European Village", "third world" in developed countries and so on.

However what the surprising is, this member of European Union has been admired as one of the most modern knowledge economies in the world now. (Top 10 richest countries of the world, by Roman). During their innovation of government technology and political strategy, the Irish economy is growing rapidly, in 2006, the Irish GDP per head is 36.8 thousand Euros, is far exceed than German, French and British, becoming the richest country in Europe. And their unemployment rate is just 4.3 percent, while maintaining 2.5 percent of the low inflation rate. No matter from which angles, the Irish economy is good enough to raise jealousness by other country. And now their title has been changed from “European beggar” to “Celtic Tiger”.

Many people might be so curious about: “why they are so successful? How did their government to incentive their economy growth?” in this essay, we are now going to discuss it under the PESTEL structure, and focusing on the Technology; Political and environmental aspect.

• Technology:
The Irish government making great efforts to develop high technological products constantly upgrades industrial structure and enhance international competitiveness. They are dedicated to increase its value-added manufacturing industry and international service by introducing foreign investment.

The large...
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