24 July 2014

“Overwhelming majority of Irish CEOs have confidence in Irish economy” – Fitzgerald

-    86% of Irish CEOs are positive about the outlook for Ireland's economy, up from 31% last year.
-    77% are favourable about the future prospects for their own businesses, up from 44% last year.

Local TD Frances Fitzgerald, Minister for Justice & Youth Affairs, has hailed the key findings from a survey of over 250 Irish CEOs as a “strong vote of confidence in this Government’s track record in propelling Ireland towards full economic recovery”.

She said:

“The positive outlook expressed by Irish CEOs adds weight to the growing belief that Fine Gael’s economic leadership is helping the country to turn the corner. Among this key grouping of business leaders, confidence in Ireland's economy has almost trebled since last year.

“Just as importantly, their endorsement is echoed in the anticipated performance of their Irish operations:  77% expect revenue growth and 69% expect profit growth, up from 56% and 53% respectively on last year.  Among multinational corporations, almost 9 out of 10 CEOs plan to increase or maintain their investment in Ireland with access to highly skilled people being the most critical factor.

“It must be noted that the same survey raises concerns over rising labour costs and the availability of certain skills. The Government has placed at the centre of our Action Plan for Jobs the need to support the transition from the old unsustainable economy to a new growing economy based on enterprise and innovation. We will continue to make the economic changes required to make Ireland the best small country in the world for enterprise, thus giving businesses the tools to create the jobs we need”.

(The above statistics are some of the key findings from PwC's 2014 CEO Pulse Survey.)