This October came the fourth installation of Ireland’s famous web summit. The web summit is a conference of technology companies around the world who come to showcase their latest innovations and announce future plans for their companies. Although it is a meeting ground for massive multinational companies, it is also a place for small-scale start-ups to gain recognition from these success stories. The Web summit is the idea of Paddy Cosgrove, who gave the opening speech and organized the entire event. Other famous attendees were the President, Edna Kenny and paypal creator Elon Musk.
The web summit came as an obvious vote of confidence in Ireland’s initiative to aid large multinationals was at its most recent web summit. On October 31st, 350 jobs were announced in the span of one day alone. Tech companies like Adroll, Nitro, StorageCraft and Clio all announced the creation of over 30 jobs for its development staff. We must also note that these are no small paying jobs, but high paying and lucrative positions among the world’s strongest companies. We can already see the effect of this recent surge in GDP per capita statistics. A rise of over $1000 in GDP per capita from 2010 to 2012 signals a move in the positive direction for the economy. These figures mean that Irish workers are being paid more, and thus have the money to spend on domestic goods. This statistic also shows the demand for Irish labor. While multinational ICT companies continue to use Ireland, its citizens will always be needed as the new driving force for the world’s ICT sector. The higher value of Irish labor has been increasing at a steady rate, and will help return Ireland’s economy to a stable state. Services now account for 45% of Ireland’s exports, and if the ICT sector continues to grow, we will see them even overtake manufacturing in the coming years.