Updated finance strategy sets target of 5,000 new jobs
The Government has set a target of growing the level of employment in the international financial services sector by 5,000 net by 2026.
The target is contained in an update to the Ireland for Finance strategy, which sets out the future development of the sector over the next four years.
The Government says it will achieve the employment growth by promoting green, sustainable and digital financial services.
There are currently 52,800 people working in international financial services here – the highest level ever – with a third in regions outside Dublin.
The vision of the strategy is to grow and expand Ireland, in a sustainable manner, as a premier European financial centre and a location of choice for specialist international financial services.
The original strategy was published in 2019 and was due to run until 2025. The updated strategy has been extended for a further two years.
The strategy has also been reconfigured in order to reflect the heightened importance of digital finance and sustainable finance.
“I believed it was important to examine how the Government can refocus policy in response to all the changes both industry and society have experienced in recent years,” said Minister of State at the Department of Finance Seán Fleming.
“The sustainable and digital transitions feature prominently as great opportunities for Ireland’s economy.”
The five main themes for growth in the strategy are sustainable finance, fintech and digital finance, diversity and talent, regionalisation and promotion and enhancing the operating environment.
A steering group in Department of Finance will also be expanded to include the private sector.
“Partnership between the private and public sector is at the heart of this strategy,” said Mr Fleming.
“It is key to ensuring Ireland has the right education mix to meet the demands of industry in the future. Our job targets are ambitious but can be met with everyone working together.”