Our comprehensive assessment of Ireland's operating environment and the outlook for its leading sectors are formed by bringing together a wealth of data on global markets that affect Ireland, as well as the latest industry developments that could impact Ireland's industries. This unique integrated approach has given us an impeccable track-record for predicting important shifts in the markets, ensuring you’re aware of the latest market opportunities and risks in Ireland before your competitors.
Ireland Country Risk
Ireland's economic growth story will be robust in 2016 and 2017, with the country set to remain the fastest growing eurozone economy.
We believe the recovery is sustainable, with the chances of another housing bubble re-emerging much lower than before the 2008 crisis.
Economic growth will be broad-based, driven by a combination of surging private consumption, relaxed fiscal consolidation, and investment in productive capacity by multinationals.
External conditions will also be favourable, amidst ECB QE, low global oil prices, and Ireland's trade link with the US and UK economies.
The ruling Fine Gael/Labour coalition looks most likely to remain in power after the April 2016 election.
They will benefit from...
Ireland Industry Coverage (5)
Food & Drink
Ireland Food & Drink
BMI View: Private consumption will continue playing an increasing role driving growth over the coming years as Ireland builds on its spectacular 2015 growth, outperforming the eurozone in 2016 and 2017. The Food & Drink market will benefit from positive spillovers from this trajectory, and we are particularly enamoured with the discount and hypermarket sub-sectors of Mass Grocery Retail. The likes of Aldi and Iceland are rapidly increasing their presence in the country, heating up competition with incumbent retailers. The outlook for the alcohol market is less impressive, as per capita consumption drops amid health concerns and policies from the government designed to...
BMI View: Ireland's insurance market appears well placed for growth over the coming years as the country's robust economy, the fastest growing in Western Europe, provides insurers with opportunities to generate new business. Personal insurance products such as motor vehicle and life insurance should benefit from an expansion in household spending, while an improving business climate should also support demand for general liability and other corporate lines. However, the Irish competitive landscape remains fierce and this will continue to exert downwards pressure on prices and restrict space for new entrants over the coming period.
Ireland Medical Devices
BMI Industry View : Ireland represents a small, but advanced medical device market, which we forecast will grow at a CAGR of 1.8%, to reach USD908.9mn in 2019. The market will be driven by the introduction of universal health insurance combined with the healthcare needs of the aging population and the uptake of new technology.
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Pharmaceuticals & Healthcare
Ireland Pharmaceuticals & Healthcare
BMI View: Continued manufacturing investment in Ireland's pharmaceutical sector will continue to be promoted by government support and operational advantages such as high level of manufacturing and compliance, skilled workforce and easy access to key export markets. While Ireland's pharmaceutical positive trade balance is expected to expand through our forecast period, reflecting the country's reputation as a global major manufacturer and exporter of pharmaceuticals, the domestic drug market will remain in negative growth territory, albeit gradually moderating, before resuming expansion by 2018 and picking up in the years ahead. This is mainly explained by the government's sustained focus on controlling pharmaceuticals spending, which will keep a lid on market growth .
Headline Expenditure Projections
BMI View: Bundling of fixed and mobile products is a critical strategy as it lowers churn and enables operators to sell new services to their customers. Eircom's investments into VDSL and FTTx have a positive impact on the broadband market, while UPC improves its speeds to compete with other operators and has recently launched mobile services as MVNO under the Virgin brand. BMI foresees higher levels of advanced technological uptakes going forward as operators offer innovative services to attract new customers and to retain existing clientele in both, the fixed and wireless markets.
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