What is the most common attribute amongst the world's wealthiest countries as measured by GDP per capita (adjusted for purchasing power parity) in 2016?

Author: Jonathan Gregson
Project Coordinator: Edith Updike

7. Ireland

Current International Dollars:  69,374 | Click To View GDP & Economic Data

Following some politically sensitive reform measures, including sharp cuts in public-sector wages and restructuring of its banking sector, Ireland has regained its fiscal health following the financial crisis of 2008. Today the country’s economy is one of the fastest-growing in the Eurozone, with unemployment at a multi-year low and the manufacturing PMI (Purchasing Managers’ Index) at a post-Brexit high. The strong economic data—which made the people of Ireland the seventh wealthiest in the world in 2016—is, however, largely driven by the financial activities of the many multinational corporations operating in the country, and thus makes the underlying strength of the national economy difficult to assess. Nevertheless, the streamlined regulatory process and attractive rates of corporate taxation—as well as potential Brexit fallout—should continue to facilitate foreign investment, allowing Ireland to retain its position among the world’s richest nations.
 


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