Downturn hope: UN finds Ireland top wealth creator in EU

HOPES that Ireland will surf through an economic downturn were raised last night as business chiefs heralded rising job numbers and a big United Nations report named Ireland as the EU’s top creator of wealth.

The UN’s 2007 State of the World Population report not only named Ireland as having the highest average income among EU states but ranked Irish cities as among the fastest growing.

Besides Norway and Switzerland, which are outside the EU zone, Ireland had the highest Gross National Income (GNI) per head at $34,720 (€29,164) in 2005, the latest year analysed.

The UN report predicts Irish cities will grow by 1.8% in population every year until 2010, second in Europe only to Albania.

Weighty economic and development gains were also echoed by the Investment and Development Agency (IDA) last night. Chairman John Dunne stressed the injection of foreign investment seen in the last decade was here to stay.

The IDA annual report shows multinational companies pumped €2.6 billion in capital investment into new projects here last year. A total of 135,500 jobs were also created.

Many household-name companies that started with skeleton set-ups have grown — in research and development, among areas — so much so that multinationals are paying €15bn into Irish wages, services and materials annually.

“Foreign direct investment continues to contribute strongly to the Irish economy and to growth, but in a broader way than before,” said Mr Dunne.

“The progress that has been made in recent years in transforming the activities of overseas companies in Ireland, and in winning new investments in areas that barely existed 10 years ago — such as biopharmaceuticals and digital media — is striking.”

The UN report also ranked Ireland as having the second- highest fertility rate in Europe, with the average number of babies born at 1.95 a woman.

Just one in every 20,000 women die during pregnancy or birth complications, ranking Ireland in joint fifth place.

The Government was last night warned about planning for new, prosperous families.

“The houses are there now, as are the jobs, but we still need the facilities to go along with them,” said Niall Behan, chief executive of the Irish Family Planning Association.

He stressed Ireland had a high rate of unplanned pregnancies, and emerging areas on the commuter belt around Dublin lacked services for sexual health or family issues.