In its end-of-year statement, IDA Ireland warned that while employment opportunities are increasing in key skill areas, this will have serious implications for those deciding on career and CAO study options.
IDA has identified current and future industry trends which point to strong career opportunities in areas such as science, technology, engineering, business services, financial services, languages and manufacturing/supply chain.
It warns that it is vital for those making an education or career choice, or wishing to upskill, to focus on where current and future job opportunities exist and the key skills required by investors/employers.
A recent skills demand survey conducted by IDA highlights that:
- Almost half of all new foreign direct investment (FDI) jobs created in 2011 (47pc) require ICT, science and engineering (technology) skills – such as computer programmers, software development professionals, IT user support technicians with languages, engineering, quality control and research and development specialists;
- 19pc require business, finance and accounting skills – including accountants, financial traders, finance and investment analysts; 14pc require manufacturing, distribution and logistics skills – ie, process operatives, transport and distribution executives;
- 12pc require skills in sales and marketing – business development executives and marketing professionals, of which two-thirds require multilingual personnel.
FDI impact on Ireland’s economy
The FDI sector has delivered more than 13,000 new jobs through its strong export performance. Export-led growth is an essential component to Ireland’s economic recovery, the IDA said. It reported today that IDA client companies account for €115bn or more than 70pc of Irish exports.
The importance of FDI to the Irish economy remains highly significant. In addition to exports, FDI accounts for a total of 250,000 jobs (one in every seven jobs) in the Irish economy and €19bn spend on Irish-sourced goods and services, including €6.9bn in payroll.
Companies that have chosen Ireland as the location for their FDI operations include nine of the top 10 global pharmaceutical companies, eight of the top 10 US ICT companies, 17 of the top 25 medical device companies, more than 50pc of the world’s leading financial services firms, the top 10 ‘born on the internet’ companies and three of the world’s top 5 games companies.