The Federation of International Banks in Ireland (FIBI) recently conducted research which revealed that nearly two-thirds of international banking firms are planning to expand their Irish workforce this year. This is evidenced by the 16% jump in employment among FIBI companies in Ireland to over 14,200 between 2019 and 2022. Ireland is now the sixth-largest exporter of financial services in the world, raising from eighth place in 2020.
Furthermore, 80% of FIBI firms anticipate an increase in their Irish operations this year. FIBI chair Fernando Vicario commended the sector’s “exceptional performance in recent years” and its “positive outlook for the future” despite global uncertainty. He also mentioned the Covid-19 pandemic recovery, and the macroeconomic pressures it has presented.
Brian Hayes, executive director of Banking and Payments Federation Ireland (BPFI), pointed out the advantages of having operations in Ireland, particularly the country’s status as the only English-speaking nation in the Eurozone with a common law tradition. He also highlighted Ireland’s economic and political stability, particularly its response to the global financial crisis, as components of its “compelling proposition to the sector”.
