Ireland is a “highly attractive location” for international companies to keep their digital assets – including data, media, databases, applications and infrastructure services.
Ireland’s suitability as a highly attractive location for hosting digital assets is highlighted in a new report commissioned by GconnTec, an Irish IT and interim management firm.
THE REPORT’S KEY FINDINGS
Ireland’s geographic location, as well as its EU and Eurozone membership, provide a gateway to a European market of more than 500 million people.
Ireland is a politically stable location. Despite the recent global financial crisis, unlike some other EU countries, Ireland has experienced little social, industrial or political unrest.
Ireland is now emerging from the financial crisis and is on course to exit its restructuring program. A sign of recovery is that, as of August 28, 2013, five year Irish government bond yields had dropped below 3% – compared with the near 18% seen during the summer of 2010.
The combination of a full package of tax benefits and access to energy-efficient power contribute to Ireland’s overall attractiveness as a low-cost business destination.
Irish Government officials have been committed to attracting foreign direct investment by maintaining a low corporate tax rate, which has remained at 12.5% since 2006 – much lower than in other European countries, including the Netherlands, France, Germany and the UK. Besides the low corporate tax rate, Ireland’s business-friendly package of tax benefits includes a research-and-development tax-credit scheme, capital allowances on energy-efficient equipment, a large number of signed double-taxation treaties, etc.
Due to its temperate and windy climate, Ireland provides the ability to significantly lower the costs associated with running a datacenter. In addition, Ireland has also been aggressively exploring the use of renewable sources of power, which provide cleaner and less expensive power options.
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There is also a separate, recent report, conducted by 451 Group, a global analyst and data company, that found Ireland’s data hosting market will grow by 18% annually between now and 2016, outpacing the UK and other mainland European destinations, including France, Benelux, the Nordics and Iceland.