Chpt 2 Long Q Financial Services In Ireland Flashcards
Define financial services
Are businesses such as insurance, banking, credit card services, investment find management and aircraft leasing
What type of economy does Ireland have
A developed economy
What happened in the 1980s
Financial services sector grown considerably since 1980s due to promotion by gov
How many financial services are in Ireland
500 financial services
What is the corporation tax rate in Ireland
12.5%
What is the corporation tax rate in Japan
41%
Why does Ireland have a unique workforce
36% of population is under 25 years of age
What makes the Irish workforce skilled and experienced
Over 1 million people currently in full time education
26 nationalities in Ireland
Only fully English speaking country left in EU
What has the government invested in to encourage Irish financial serviced to go
In transport, excellent telecommunications infrastructure and airline network
How many people are in the EU
440 million people market
How many jobs does financial services corporations provide in Ireland
35,000 jobs - 2000 just in aircraft leasing
How does Ireland’s location affect timezones
Europe is midway between american and Asian economies so European companies benefit from the time difference between both continents and can easily do business with both
What is the IFSC
International Irish financial services centre
When was the IFSC set up
1987
Why was the IFSC set up
Attract investment into Ireland from global financial services
Where is the main centre of financial services industry in Ireland
Dublin Docklands
How many counties throughout Ireland are financial services companies located
20 counties
What does the IFSC provide throughout Europe
Insurance services - this sector is growing strongly with companies like Zurich and Aviva setting up European services in Dublin
How much does financial services contribute to Irish GDP
7.4%
Financial services account for 10% of
Multinational employment in Ireland
How much does the selling of financial serviced from companies based in the IFSC contribute in tax annually
€2.1 billion including 36% of total corporation tax take
What is Ireland the leading centre for
Aircraft leasing
How many aircraft leading companies currently operate in Ireland
9 out of the 10 leading companies
How much is aircraft leasing worth in global market
€104 billion
How much of aircraft leasing does Irish based companies own and manage
19% of roughly 18,000 commercial craft flying today
What was designed to develop financial services beyond brexit
The IFS2020 Action Plan which enables the sector to expand without reliance on the UK
What does Ireland have more of per capita than any other country
Actuaries
