Leaving Cert Geography ELECTIVE - Economic: Many multinational companies (M.

Many multinational companies (M.N.C.s) have set up in Ireland in recent years - Leaving Cert Geography - Question Question 1 - 2007

Question Question 1

Many multinational companies (M.N.C.s) have set up in Ireland in recent years. Explain fully two reasons why Ireland is attractive to such companies.

Worked Solution & Example Answer:Many multinational companies (M.N.C.s) have set up in Ireland in recent years - Leaving Cert Geography - Question Question 1 - 2007

Step 1

Name a MNC

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Answer

Apple Inc. is an example of a multinational company that has established a significant presence in Ireland.

Step 2

Explain fully two reasons why Ireland is attractive to such companies.

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Answer

1. Favorable Tax Environment

Ireland is known for its low corporate tax rate of 12.5%, which is one of the lowest in Europe. This offers significant financial advantages to multinational companies, allowing them to retain more of their profits. The country also provides various tax incentives and credits for research and development, making it appealing for industries focused on innovation and technology.

2. Skilled Workforce

Ireland boasts a highly educated and skilled workforce, particularly in fields like technology, pharmaceuticals, and finance. Many young professionals in Ireland have qualifications in these sectors and possess the necessary skills for multinational companies to thrive. Furthermore, the presence of several top universities ensures a continuous supply of talent, which is a substantial draw for MNCs.