Economy

Ireland woos investors, tourists with superior infrastructure promise

Sravanthi Challapalli Recently in Dublin | Updated on November 15, 2017 Published on January 14, 2012

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Even as layoffs and the state of its economy continue to make the headlines, Ireland sought to attract investment and tourists on its various strengths, foremost among them its airport and aerospace facilities.

In various presentations made to a team of visiting Indian media persons, officials of the host Dublin Airport Authority (DAA), which manages Ireland's three big airports at Dublin, Shannon and Cork, spoke of how they were investing in the airports to provide greater connectivity to the rest of the world. After roaring growth between 1995 and 2007 which earned it the name Celtic Tiger, Ireland has been in severe recession since.

US Customs facility

Mr Vincent Harrison, Director (Strategy Regulation and B2B), DAA, said growth signs on a macro-economic level were a lot more positive in 2011. GDP in Q2 2011 was up 2 per cent at € 40.9 billion; exports in H1 up 7 per cent (€47.1 billion) and imports 9 per cent (€ 25 billion); and visitors to the country up 10 per cent in the first three quarters (5.1 million).

DAA has invested €1.5 billion in its airports and opened a second terminal spanning 75,000 sq. m. at the Dublin airport with an investment of €1.2 billion. Dublin and Shannon airports offer a US Customs and Border Protection (CBP) pre-clearance service allowing

US-bound passengers to clear all US entry requirements in Ireland. Passengers fly into US' less expensive domestic terminals, saving money on airport charges, and can catch onward flights quicker. The process is claimed to take only 46 seconds at the minimum and waiting in queue not more than 30 minutes.

The CBP would be attractive to Indian airlines flying to the US and DAA is in talks with them. Currently, there is no direct flight from India to Ireland.

Indo-Irish trade

Irish trade value with India was up 29 per cent in 2011, driven by strong growth in the pharma and hi-tech sectors. In 2010, total trade between Indian and Ireland was worth $624 million.

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Published on January 14, 2012
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