They basically made Ireland a Tax haven for corps and got tons of jobs in return. Go figure. Lots of Semicon-related companies moved in in the 80's-90's.
Is it all from multinationals locating there? What exactly do they produce that makes them so rich? It's not the dairy products, good though they are.
Double Irish with a Dutch Sandwich
Example of the Double Irish With a Dutch Sandwich
In 2017, Google reportedly transferred 19.9 billion euros or roughly $22 billion through a Dutch company, which was then forwarded to an Irish company in Bermuda. Companies pay no taxes in Bermuda. In short, Google's subsidiary in the Netherlands was used to transfer revenue to the Irish subsidiary in Bermuda. https://www.investopedia.com/terms/d/double-irish-with-a-dutch-sandwich.asp
Apparently there was also a corresponding rise in per capita income as well.
I don’t see how it’s possible.
I went there for 6 days in 2013 and the standard of living was much lower than the US. One of our tour guides was a supervisor replacing an employee who was on vacation and he talked a lot. He basically said that it wasn’t worth it to be a supervisor. Due to the $15 min wage, he only got paid a few euros more, and it wasn’t worth the headaches and quality of life in Ireland sucked because it’s basically impossible to improve ones standing in life.
Is it all from multinationals locating there? What exactly do they produce that makes them so rich? It's not the dairy products, good though they are.