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.
The ongoing political crisis in the country may result in a second general election, which would be net negative from a political stability perspective.
That said, solid macroeconomic fundamentals mean that this uncertainty is unlikely to dent the country's robust economic growth outlook.
Whichever party or coalition eventually emerges victorious is likely to adopt broad policy continuity from the previous Fine Gael/Labour coalition, which implies more of the same is on the cards in the years ahead.
Threats to Ireland's low corporate tax...
Ireland Industry Coverage (5)
Food & Drink
Ireland Food & Drink
BMI View: Ireland's food and drink industry will benefit from positive spillovers from the country's macroeconomic growth trajectory, and we are particularly positive on 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 cut back spending on beer and vodka.
|Food & Drink Spending|
BMI View: The growth of Ireland's insurance sector will be supported by the strength of the local economy and robust levels of household spending, as well as the ability of Irish-based insurers to grow their business internationally. 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. Competition will remain robust, placing downward pressure on premiums.
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.
|Total (USDmn) ...|
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. Operators are investing in advanced fixed and mobile services, such as 4G, VDSL and fibre to attract consumers onto their platforms, while the market has become more convergent, with Vodafone launching its TV service to join eir and Virgin Media in potentially offering quad-play.. 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, especially as the potential for deepening remains strong, with many users still on DSL or 3G services available for migration.
|Potential For Upgrades And Revenue Growth|