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 will be the fastest growing economy in the developed world in 2015, and will remain a eurozone growth outperformer the following year.
Economic growth has returned to 'Celtic Tiger'-era levels in H115, and we believe growth momentum will be sustained over the coming quarters.
Systemic risks to the economic outlook have been materially reduced by Ireland's progress unwinding dual fiscal and current account deficits over the past few years.
Net exports will continue playing a key role driving growth, while growth will also be supported by an ever improving outlook for Irish households and consumer spending.
Although the next election due by April 2016 looks uncertain, it is unlikely Sinn Fein will play a role in government. This is...
Ireland Industry Coverage (5)
Food & Drink
Ireland Food & Drink
BMI View: Ireland will be the fastest growing economy in the developed world in 2015, and will remain a eurozone growth outperformer the following year. Economic growth returned to 'Celtic Tiger'-era levels in H115, and we believe growth momentum will be sustained over the coming quarters. Net exports will continue playing a key role driving growth, while growth will also be supported by an ever improving outlook for Irish households and consumer spending. We have revised up our forecasts for real GDP growth to 6.1% in 2015 and 4.2% in 2016, from 4.0% and 3.5% previously.
Headline Industry Data (local currency)
Total food consumption growth year-on-year (y-o-y) in 2015: +2.9%; compound annual growth rate (CAGR) to 2019: +3.5%.
Per capita food consumption growth y-o-y in 2015: +1.8%; CAGR...
BMI View: A strong domestic economy will provide a platform for growth across many parts of Ireland's insurance market, with the life and motor vehicle sub-sectors in particular well placed to benefit from growth in disposable incomes and household spending. That said, Irish insurers face continued challenges in the form of rising claims and stagnant growth in health insurance premiums, among other areas. Nevertheless, Ireland's status as a hub for international insurance operations means it is likely to remain an important market in terms of mergers and acquisitions activity over the next few years.
Ireland's status as one of the success stories of Western Europe is gradually filtering through into the country's insurance market, whose growth has been stunted by the effects of a deep economic recession and falling consumer spending over the...
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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