Dublin ranked 7th best trading city

DUBLIN has catapulted its way into a list of the world’s top financial centres, thanks to its corporate tax rate, workforce and love of partying.

The capital scored 66 points, or 7th, in a survey by Trader Monthly, an influential New York industry magazine, putting it ahead of Los Angles, Hong Kong and Tokyo.

Top of the list is Chicago with 78 points followed by London on 74 points.

Although Dublin scored high points in the entertainment and recreation categories it lost points for its bad weather and high property prices.

The survey described Dublin as Wall Street on the River Liffey and said in just a few decades, Ireland has transformed itself from “economic basket case to Celtic brawler”.

“The mere fact that it’s the birthplace of Guinness would be enough to put Dublin near the top of any best-cities list, but the Irish capital boasts plenty of other reasons for traders, even tee-totaling ones, to start thinking green.

“Its 12.5% corporate-tax rate and business-friendly laws have helped turn Dublin into a hub for Microsoft, Dell and other major companies, pumping a lavish amount of money into the local economy and, as a side effect, sending real-estate prices through the formerly thatched roof,” the magazine said.

It also said that Ireland is a bettor’s dream, offering a plethora of casinos and a national obsession with horse racing that’s rivalled only by Australia’s.

The magazine quotes Jason Berry of Saxon Financials, who has been trading in Dublin for eight years.

“There’s a positive working environment and a very well-educated and optimistic population here and they love to party.”

The survey looked at why traders choose one city over another.

It said the international spread of electronic markets, coupled with the increased intermingling of global exchanges, are enabling screen-based traders to be based anywhere in the world.