Dáil Éireann Debate, Tuesday - 23 January 2024
246. Deputy Louise O'Reilly asked the Minister for Enterprise, Trade and Employment for an update on the 'Global Ireland 2025'; the successes to date on diversifying export markets and delivering inward investment and tourism; and if he will make a statement on the matter. [2814/24]
Amharc ar fhreagraGlobal Ireland 2025 is a whole-of-Government strategy, led by the Department of Foreign Affairs, that aims to double Ireland’s global footprint and influence in the period 2018 to 2025. In July 2023, a review of the strategy found that implementation has brought significant benefits to Ireland, including by equipping our country to better withstand the challenges of recent years; positioning Ireland to make effective contributions on issues of national and global concern, and supporting a diversification in markets and international alliances.
With regard to the actions in the Strategy for delivery by the agencies of my Department, I can update as follows:
Accelerate diversification of export markets by Enterprise Ireland clients
Enterprise Ireland (EI) is working to double the total value of client exports outside the UK from the 2015 baseline; to double Eurozone exports; and to increase the diversification of client exports into new markets by 2025. This approach is working. EI client companies are achieving international sales at record levels, driving innovation and bringing the Irish Advantage to a wide range of sectors including MedTech, High-Tech Construction, Fintech, Agri-Tech, ICT and emerging technologies.
Enterprise Ireland reported strong levels of export performance by its client companies in 2022 - €32.1bn, up over 55% since 2015. In 2022 exports to the Eurozone region saw record levels of €7.9bn, while exports to North America stood at €5.5bn in 2022, up from €2.9bn in 2015. The UK market, with exports of €9.2 billion now accounts for 29% of client exports, in 2015 this was 37%. These performances reflect EI's emphasis on the importance of diversifying into new markets as a result of Brexit whilst also retaining a strong export presence in the UK where exports have increased by €1.7 billion since 2015.
EI has expanded its global presence through the opening of eight new offices internationally in Munich, Lyon, Manchester, Copenhagen, Montreal, Seattle, Melbourne and Ho Chi Minh City. These offices are being embedded into the Enterprise Ireland overseas network; and will help to build new buyer relationships in markets where growth opportunities have been identified.
EI continues to scale its international export marketing campaign “The Irish Advantage”, a digital export promotion campaign focused on stimulating awareness of Irish products and services in international markets and encouraging buyers to source from Ireland.
Accelerate diversification of FDI source markets, doubling growth in IDA-supported project investments from non-US markets in the period 2018-2024.
As part of its current Strategy Driving Recovery and Sustainable Growth 2021-2024 , Market Diversification is a key focus for IDA Ireland in terms of sectors and broadening the geographic profile of investment.
IDA Ireland will continue its focus on winning investment from Europe, the UK, and Asia-Pacific and is aiming to grow the base of clients from Asia-Pacific in Ireland, building upon the strategic projects secured in recent years and on the international ambitions of target clients. IDA Ireland will continue to build awareness of Ireland’s value proposition in locations with significant potential as FDI source markets.
The United States, as the world’s largest economy and innovation leader, will remain a key market as IDA Ireland continues to target job creating investment opportunities arising from disruptive innovation, digital transformation and environmental sustainability.
IDA’s focus on diversifying investments has paid dividends over the past number of years with an increasing share of investments coming from outside North America, this share has increased from 29% for 2010 to 2014 to 33% for 2015 to 2019, to 35% in the current strategy to date (2021-2023).
Actions in Global Ireland 2025 relating to the development of the tourism sector are a matter for my colleague the Minister for Tourism, Culture, Arts, Gaeltacht, Sport and Media.
