The Dublin City Region plays a pivitol role in the economy of Ireland. The Dublin Economic Monitor tracks the capital’s performance quarterly to provide insightful data.
Although the indicators for Dublin's economy remain in positive territory, threats and challenges are mounting. The ongoing war in Ukraine, combined with inflation pressures, labour shortages, and lingering supply chain issues have created economic pressure points which will linger in to the winter period and beyond.
One silver lining to the crowds at the airports is that tourism spending is recovering nicely in Dublin and across Ireland. Entertainment spending has also posted impressive results along with a strong rebound in discretionary spending. The net result is that while the long queues due to the travel recovery are challenging, the positive economic impact on the community and the country are compelling.
While the Dublin private sector remained comfortably inside growth territory in the second quarter of the year, there were signs of a slowdown as inflationary pressures bear down on demand. This will likely make securing new business and expanding output more difficult for firms over the second half of the year. The rate of job creation remained marked as companies continued to play catch-up from the pandemic, but again there will be concerns about whether this can be sustained should there be a wider economic slowdown.