Tech report forecasts 140,000 new jobs

The Irish economy could grow by 50%, over the next four years, with 140,000 jobs created if the country can take a leading role in the creation of the EU’s planned Digital Single Market, according to a new report.

Despite a report showing, late last year, that over 90% of Irish and European tech firms are not prepared for a harmonisation of technology and digital regulation across member states, a Google-commissioned study, published yesterday, said that Ireland stands to be one of the main beneficiaries.

The research, by Boston Consulting Group, brackets Ireland with the likes of the Benelux nations, Scandinavia and the Baltic states as European ‘Digital Frontrunners’; well-digitised, export-dependent and innovative small countries largely driven by the ICT (Information and Communications Technology) sector.

It said that Ireland is unique by virtue of its concentration of tech firms and its well-developed digital economy; but warned that the country must “act quickly to copperfasten its position as one of Europe’s digital frontrunners.”

“Ireland’s e-GDP — as a share of total GDP — is the highest of comparable countries, at over 12%, excluding multinational corporations.

"This has been driven by a articulated focus on offering ICT businesses an attractive climate and by providing a motivated and skilled labour force,” said Boston Consulting’s Niclas Colliander.

“Ireland, with a high share of well-developed digital businesses, has more to gain from digitisation compared to its peers,” he added.

Google said it’s “timely” to take stock of Ireland’s readiness for a single market.