A economic success in Ireland will be useful for New Zealand.

INTRODUCTION

Ireland has transformed its economy oer the past couple of decades to offer a previously slumping economy, with high unemployment and high dependence on hoidenish sectors into a booming economy, attractive to foreign investors. Unemployment judge have decreased dramatically and Ireland is instantaneously experiencing a transposition of the previous exodus of local residents overseas, with the thriving country now attracting highly skilled immigrants as well as ex-patriots go to their now thriving homeland. This report will look at the background of both(prenominal) Ireland and New Zealand to make comparisons of similarities between the 2 before going on to highlight factors that have been powerful in Irelands success and the main lessons that New Zealand can attain from this. These include attracting foreign direct investment and an investment in education.

IRELAND BACKGROUND

Ireland is a reasonably small country with a people of 3,841,000. They have a modern, trade-dependent economy with growth averaging 9% over the last six years. In the past, Ireland was heavily reliant on their agricultural sector, producing goods much(prenominal) as; turnips, barley, potatoes, sugar beets, wheat, beef and different dairy products. However in the last decade the agricultural sector has been over-taken by industry and now accounts for only 4% of GDP compared to industry which accounts for 38% of GDP.



The Irish industry is comprised of things such as; food products, brewing, textiles, clothing, chemicals, pharmaceuticals, glass and crystal, machinery, transportation equipment and software. These goods make up about 80% of exports and employ 28% of the labor force. Although exports bide the primary engine for Irelands robust growth, the economy is also benefiting from a rise in consumer spending and recovery in both construction and business investment. Over the past decade, the Irish political relation has implemented a series of national economic programs designed to curb...

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