In this issue
LATEST DUBLIN ECONOMIC DATA
IHS MARKIT DUBLIN PMI
KBC/ESRI CONSUMER SENTIMENT
MASTERCARD SPENDINGPULSE
DUBLIN ECONOMY CONTINUES TO STRENGTHEN AMID HOUSING CHALLENGES
PAGE 12
DUBLIN TOURISM DEVELOPMENT
UPDATE - DUBLIN'S OUTDOORS
By Keelin Fagan, Head of Dublin, Failte Ireland
PAGE 14 TRANSFORMING THE INNOVATION LANDSCAPE FOR SOUTH DUBLIN
By Frank Nevin, Director of Economic Development, South Dublin County Council
Dublin's unemployment rate stands at 6.4% (sa) of Q4 2017
Residential rents in Dublin continue to exert pressure in the Q4 2017 following 17 quarters of growth in excess of 5.5%. Dublin Area in Q4 2017 following 17 quarters of growth in excess of 5.5%
Residential property prices register YoY growth in excess of 12% for the first time since May 2015.
Public transport trips rose by close to 9% in Q4 2017 with 54.6 million trips undertaken in the quarter.
Total cargo handled at Dublin Port reached a record high with over 9.3 million tonnes (SA) handled in Q1 2018.
Housing completions in Dublin fell to 388 in January 2018 highlighting continued volatility over the past number of months.
Dublin Mastercard SpendingPulse growth in consumer spend in the Dublin economy moderated slightly in Q1 2018 with a 4.8% YoY growth. Overall Tourism Spend increased by 9% YoY driven by US and French markets in particular.
The Dublin MARKIT PMI Recorded further sharp expansion in output well above 50. The rate of job creation accelerated to 58.5 while Q1 experienced the fastest rise in new business orders since Q2 2015.
KBC/ESRI Consumer Sentiment YoY the overall Dublin Consumer Sentiment Index increased by 14.1 index points in Q1 2018, driven primarily by increasingly optimism regarding the general economic outlook.
The Dublin Economic Monitor is a joint initiative on behalf of the four Dublin Local Authorities, and is designed to be of particular interest to those living and doing business in Dublin or considering locating here. It is produced by EYDKM Economic Advisory Services, with KBC/ESRI delivering the Dublin Consumer Sentiment data and IHS MARKIT delivering the Dublin Purchasing Managers' Index (PMI).
We also partner with Mastercard to use their SpendingPulse reports to better understand retail and tourism spending and tourism expenditure patterns. The spending pulse is derived from anonymized and aggregated card transaction data as well as other means of payments such as cash and cheques. This data helps the city develop new insights on the spending patterns
of Dubliners and tourists, as well as comparing the Capital's performance to the whole of Ireland (see centrefold supplement).
The special articles this quarter include one from Keelin Fagan, Head of Dublin, Failte Ireland who gives an update on Dublin’s Tourism Development and how they are working with the local authorities to diversify Dublin’s appeal (p.12). Frank Nevin, Director of Economic Development, South Dublin County Council discusses options to ‘transform the innovation landscape’ for South Dublin (p.14).
We hope you find the Monitor useful and welcome any feedback. You can sign up to our quarterly mailing list and access the Monitor online at www.dublineconomy.ie. The next release will be published online on August 2nd 2018.
This document provides general information on the Dublin economy. It is not intended to be used as a basis for any particular course of action or as a substitute for financial advice. The document is produced independently by EY-DKM Economic Advisory Services; the views and opinions expressed are those of the relevant author, and do not necessarily reflect the views of the Dublin Local Authorities. The Dublin Local Authorities disclaim all liability in connection with any action that may be taken in reliance of this document, and for any error, deficiency, flaw or omission contained in it.
According to OECD’s Interim Economic Outlook the global economy will continue to strengthen in 2018 and 2019, with growth forecasts of close to 4 per cent in each year compared to 3.7% in 2017.
New tax reductions and spending increases in the United States will help US GDP grow by approximately 3% annually in the next two years. In March the Federal Reserve voted to increase interest rates for the sixth time since December 2015 and subsequently increased the target range for the federal funds rate to 1.5% - 1.75%. The monetary policy stance remains accommodative, supporting strong labour market conditions in the US and a sustained return to 2% inflation.
Preliminary estimates from the CSO indicate that GDP (volume) increased by 7.8% in 2017 while GNP increased at a rate of 6.6% for the same period. These estimates place Ireland as the fastest growing economy in the European Union for the fourth year in a row.
The Irish economy recorded equally strong growth of 3.9% when measured via Modified Domestic Demand – a new measure introduced by the CSO which removes the distorting effects of intangible assets, contract manufacturing and aircraft leasing.
An important barometer of how the domestic economy is performing is personal consumption expenditure, which grew by 1.9% in 2017. Industrial output increased by 8.9% while investment dropped by 22.3% in the year on foot of lower levels of intellectual property imports, compared to the exceptionally high levels recorded in 2016.
The key sectors contributing to growth continue to be Information & Communication and Construction, both registering growth of close to 17% in 2017. Industry (excl. construction) made the most positive contribution in Q4 2017, rising 8.9%, within which manufacturing grew by 9.1%.
Growth in the euro area is set to remain robust although the OECD forecasts a moderation in growth levels from 2.5% in 2017 to 2.1% by 2019. Accommodative monetary and fiscal policies, improving labour markets and high levels of business confidence are all helping to boost demand.
Of the countries listed in the table below, the UK is forecast to remain the weakest performer with uncertainty surrounding Brexit expected to impact growth prospects into the medium-term. By 2019, GDP growth of just over 1% is forecast on the back of slowing consumer expenditure and business investment. A transition agreement was secured in early March, subject to certain conditions regarding the Irish border with the UK, which will lead to the orderly withdrawal of the UK from the EU.
Brexit remains one of the key risks to growth in the Irish economy. Under the terms of the aforementioned transition agreement the UK must adhere to a ‘legal backstop’ plan whereby Northern Ireland will remain in full regulatory alignment with the Republic, and therefore the EU, to avoid a hard border.
employment in dublin continues to rise but house and rental prices remain a key issue
Dublin’s labour market ended on a high note in 2017 with a record 672,000 Dublin residents in employment. This marks an increase of just over 10,000 in the year since Q4 2016. Human Health & Social Work continues to be one of the key driver of employment in Dublin with 17.5% growth recorded in the year. Equally growth in Construction has been considerable with an additional 17.3% employed in the sector in the past 12 months.
Rising rents in the Dublin market continue to exert pressure further afield. In Dublin, average rents stood at €1,500 at the end of 2017, the highest recorded since the series began in 2007. This represents a 5.2% YoY increase in the Greater Dublin Area (GDA). Outside the GDA pressure is also being felt with YoY of 7.5% and 7.1% respectively. Increasing property prices in Dublin also show little sign of abating with YoY growth of 12.1% in January 2018, the strongest YoY growth recorded in the Capital since May 2015. With housing completions less than 400 in January (seasonally adjusted) it is difficult to see how these pressures on house prices and rents will ease in the short term at least.
That being said, other key indicators continue to show a thriving Capital city. Public transport trips in Dublin, for example, stood at 55.5 million in Q4 2017, a YoY increase of 5.8 million passengers. This figure is expected to rise further in the coming quarters with the introduction of the Luas Cross-City.
Similarly, passenger arrivals through Dublin Airport in November 2016 were at their highest level since the series began in 2006 with 1.25 million passengers. Relatedly, the occupancy rate in Dublin hotels rose to close to 86% in March 2018 and the market should be boosted further with some 3,000 additional rooms currently in construction.
According to KBC/ESRI the overall Dublin Consumer Sentiment Index increased by 14.1 index points, YoY, driven by cautious optimism regarding general economic outlook. Austin Hughes, Chief Economist at KBC Bank Ireland, explains:
“A more positive view of economic prospects was the main driver of a modest improvement in Dublin consumer sentiment in early 2018. The mood of consumers in the capital at present might be described as one of guarded optimism. There is a clear sense that conditions are improving but a still uncertain outlook and limited
gains in household finances mean Dublin consumers are cautious rather than carefree.”
Improvements have also fed through to strong growth in retail sales (+4.8% YoY), while Touirsm spend is also up +9% YoY driven largely by US, French and China markets. in early 2018 as measured by the Mastercard Dublin SpendingPulse. According to Michael McNamara, Global Head of SpendingPulse, Mastercard reflects the improvements in the first quarter 2018:
"It is unusual when you can say that you have nothing but good news to report! Both Ireland and Dublin saw increases in retail sales growth in Q1 2018. Dublin’s 5.1% growth rate was impressive with virtually all areas growing including Entertainment turning from a negative QoQ in Q4 2017 to positive growth in Q1 2018. The eCommerce channel had a mild deceleration in yearover-year growth, though still showed impressive growth in the mid-teens, in both Dublin and across Ireland”
Dublin's IHS Markit Purchasing Managers' Index (PMI) recorded a sharp expansion in output including the acceleration in job creation new business orders. Andrew Harker, notes:
“The Dublin economy started 2018 in positive fashion, maintaining a strong rate of output growth. The rise was slightly weaker than at the end of 2017 as a result of a slowdown in the pace of expansion in manufacturing production, but given this can at least partly be attributed to disruption caused by Storm Emma in March, a rebound here is likely in Q2. Indeed, demand conditions show no signs of cooling off, with the latest rise in new business the strongest since mid-2015. The rate of job creation also picked up at the start of the year as companies responded to trends in new orders.
Outside Dublin the picture across the Rest of Ireland was also rosy amid broad-based improvements in client demand not only in Ireland, but across much of Europe at present. Given this favourable back-drop, the stage is set for another successful year for the Dublin economy.”
source: cso labour force survey (lfs). dublin seasonally adjusted by ey-dkm.
Dublin’s seasonally adjusted unemployment rate increased marginally in Q4 2017 to 6.4% in spite of the strengthening labour market and an additional 10,500 employees added to the workforce in the quarter. YoY however, the unemployment rate has declined by 0.4pp. The observed downward trend in Dublin’s unemployment rate continues to be mirrored at the national level with both rates now 6.4%. This is the first time since Q2 2007 that the Dublin and national unemployment rates have been the same.
construction sector returns to the fore in employment growth
Employment levels in Dublin continue to strengthen with public sector employment registering strong YoY growth of 6.1% in Q4 2017. Growth in the private sector was slightly more subdued with YoY growth of 1.2% in the same period. Construction grew by 17.3% YoY, surpassed only by human health & social work. Industry continues to act as a drag on the market with a YoY contraction of 12.1% in Q4 2017, likely due to recent changes in statistical methodologies.
Growth in residential property prices show no sign of abating with YoY growth in Dublin of 12.1% in January 2018, the strongest growth recorded in the Capital since May 2015. The property price index in Dublin now stands at 103.1 which is the highest point since late 2008. Continued constraints on supply are resulting in similarly strong growth rates outside of Dublin over the past 12 months with YoY price increases of 12.5% recoded in January 2018.
increasing dublin rents continue to exert pressure on the gda q4 ' 17
source: rtb.
The YoY growth rate in average rents for residential properties in Dublin has moderated slightly in Q4 2017, following 17 quarters of growth in excess of 5.5%. Average rents grew by 5.3% in the year and now stand at €1,511, have been following a strong upward trend for the past six years. Rental pressures in the Capital have been feeding into the GDA where rents are now just over €1,100, 8% higher than when RTB records began in Q3 2007.
marked decline in housing completions with continued volitility in commencements
jan ' 18 total house commencements (sa)
Data available to January 2018 shows a marked MoM decline in housing completions (seasonally adjusted) in Dublin. In the month, a total of 388 houses were completed, representing a close to 50% decline on December’s figure. The number of completions in January is largely unchanged from 12 months previous when 387 houses were completed in the Capital. Commencements are also little changed in the year with 4% YoY growth recorded to stand at 468 commencements in January 2018.
source: CBRE
Following a boost in city centre office rents at the end of 2017, YoY growth has moderated in Q1 2018 increasing by 4.0%. In the south suburbs YoY growth was marginally lower at 3.6%. In both areas, rents remained unchanged QoQ and are now 4% higher than they were at the previous peak in Q2 2008. Office rents in north and west suburbs continue to recover and registered YoY growth of 12% and 6% respectively in Q1.
marginal decline in office vacancy rates in q1 2018
source: cbre.
Overall office vacancy in Dublin fell further in Q1 2018 to 5.9% from 6.1% in Q4 2017. In Dublin’s suburbs office vacancy declined by 1.8pp YoY in Q1 2018. However, on a quarterly basis the postcode recorded a 0.2pp increase, the first such increase since Q2 2016. Vacancies in the Dublin 2/4 postcodes declined marginally by 0.5pp YoY in Q1 2018. In both postcodes "computers and high-tech occupiers" continue to account for the largest proportion of leasing activity.
public transport usage continues on strong upward trend
Passenger trips on Dublin's four public transport systems rose sharply in Q4 2017 with 54.6 million trips (seasonally adjusted) undertaken in the quarter, representing a YoY increase of 8.9% or 4.5 million trips. Much of this was driven by growth in Dublin Bus trips which recorded growth of 9.8% YoY. Passenger trips on the Luas grew 5.7% YoY, however it is expected that growth will be boosted further in 2018 with the opening of the Luas Cross City in December.
Following a slight decline in October 2017, passenger arrivals at Dublin Airport reached a new peak of 1.25 million (seasonally adjusted) in November. According to Dublin Airport, growth in traffic is a result of a combination of 14 new services and extra capacity on 40 existing routes. Passenger numbers are expected to increase further with the introduction of Dublin’s first direct services to Beijing and Hong Kong. YoY there was an increase of just over 75,000 passenger arrivals (+6.4% increase).
record throughput at dublin port in q1 2018
The total cargo handled at Dublin Port reached a new high in Q1 2018 with over 9.3 million tonnes (seasonally adjusted) handled in the first three months of the year. This is equivalent to a 5.3% YoY increase or just under 500,000 tonnes. Both exports and imports continue to contribute substantially to overall growth with exports in particular increasing by 12.7% QoQ and by just over 9% YoY.
dublin hotel rates surpass 2015 peak levels
source: str. seasonally adjusted by EY-DKM.
In March 2018 occupancy rates in Dublin hotels rose to 85.8% (seasonally adjusted) surpassing the previous peak set in November 2015. Average Daily Rates for rooms in Dublin peaked in March at €141, a 6.3% increase on March 2017 and the highest daily rate recorded since the series began. STR in their latest European Hotel Market overview report identified Dublin as on of only five key European markets with in excess of 3,000 hotel rooms in construction (Dublin currently is estimated to have 31 projects with 3,152 hotel rooms in construction).
May 2018
Mastercard SpendingPulse
Dublin Mastercard SpendingPulse Delivering Unique Insights for Consumer and Tourism Spend.
Consumer spending in the Dublin economy moderated slightly in the first quarter of 2018. Overall expenditure increased by 4.8% YoY and by 0.3% QoQ in Q1 2018. This marks the seventh consecutive quarter in which QoQ growth has been positive and continues to reflect the strengthening Dublin economy.
Nationally, the sales index has maintained a strong upward trend in Q1 2018 growth in QoQ growth of 1.5%. Expenditure in Ireland (including Dublin) registered growth of 5.2% YoY in the first quarter and represents the strongest YoY growth since the series began in Q1 2014. Indeed total Irish consumer spending has increased on a consistent basis over the past four years and the results from the most recent quarter indicate that this trend is continuing.
Both Ireland and Dublin saw increases in retail sales growth in Q1 2018. Dublin’s 4.8% growth rate was impressive with virtually all areas growing including Entertainment turning from a negative growth in Q4 2017 to positive growth in Q1 2018. The eCommerce channel had a mild deceleration in year-over-year growth, though still showed impressive growth in the mid-teens, in both Dublin and across Ireland.
METHODOLOGY
A macro-economic indicator, SpendingPulse™ reports on national and Dublin retail sales and is based on aggregate sales activity in the Mastercard payments network, coupled with estimates for all other payment forms, including cash and cheque. This information has been grossed up to present an estimate of the total retail sales of retail businesses in Ireland and Dublin to both residents and tourists. Data is seasonally adjusted but is not adjusted for inflation. Mastercard SpendingPulse™ does not represent Mastercard financial performance. SpendingPulse™ is provided by Mastercard Advisors, the professional services arm of Mastercard International Incorporated. See www.dublineconomy.ie for more info on methodology.
METHOD: ECOMMERCE
The YoY expansion in Dublin consumer spending in Q1 2018 was positively influenced by expenditure growth in each of the four main sectors covered in the Mastercard SpendingPulse.
Robust growth occurred in the category of household goods, with just under 11% YoY growth. Following YoY growth of 8.3% at the end of 2017 this continues to signify an increase in consumer confidence and willingness by Dublin consumers to spend on significant household items.Entertainment, which had registered YoY growth of 1.4% in Q4 2017 expanded further in the first quarter of 2018 with YoY growth of 1.4%.
IRELAND DUBLIN
Non store Retailers including Electronic Shopping and Mail-Order Houses, Direct Selling Establishments.
RETAIL CATEGORY: DISCRETIONARY
Expenditure in eCommerce increased by a further 14.9% YoY following growth of 16.2% in Q4 2017. Retail sales in eCommerce in the Dublin region are far in excess of that observed at a national level
RETAIL CATEGORY: NECESSITIES
IRELAND DUBLIN
Discretionary Retail: Department Stores and Clothing Stores.
RETAIL CATEGORY: ENTERTAINMENT
IRELAND DUBLIN
Grocery: all food and beverage stores.
RETAIL CATEGORY: HOUSEHOLD GOODS
IRELAND DUBLIN
Hotels, restaurants and bars.
IRELAND DUBLIN
Household furniture, electronics and hardware.
In Dublin, spending by tourists from the main overseas tourist markets grew by 9% YoY in Q1 2018. Strong YoY growth rates, in excess of 10% in the US and Chinese markets, and 20% in the French market, have all contributed to the boost tourism spending. Quarterly growth rates in these markets have been equally strong with the Chinese market, in particular, registering just over 20% QoQ growth in Q1 (seasonally adjusted).
This marks a notable boost in spending from the Chinese market since the final quarter of 2017 when an 11% QoQ decline was recorded. The UK market, which accounts for a large proportion of visitors to the Capital (55% of all passengers arriving into Dublin Airport in September 2017 were from Britain, a decline of 1.3% YoY), recorded a further decline in expenditure of just over 4% YoY. With the depreciation of sterling in recent years, trips to Dublin by UK tourists have become relatively more expensive. The YoY decline observed in Q1 2018 marks the
fifth consecutive quarter in which expenditure by UK tourists in Dublin has fallen.
At a national level tourism expenditure remains slightly more robust than that observed in the Capital with 9.5% YoY growth recorded in Q1 2018. As observed in the Capital, tourism expenditure from the French market was a key driver of growth at a national level, registering 18% YoY growth in the first quarter of 2018. Notable boosts were recorded in both the German and Chinese markets over the same period with YoY growth rates in Q1 2018 of 11.7% and 12.4% respectively –compared to growth rates of 1% and 3.4% in the final quarter of 2017. Spending by UK tourists across the country improved in Q1 2018, increasing by 1.8% YoY. This follows on from negative YoY growth rates recorded in each of the four quarters of 2017 and may indicate that Dublin has suffered more adversely from the weakening of sterling.
Internationally published benchmarks are a useful means of measuring a city’s performance relative to its peers, and recent indicators for Dublin confirm the city’s strong showing across a range of dimensions (see table below).
Dublin ranked 2nd place in the fDi Top 25 European Cities and Regions of the Future for 2018 leaving the Capital one place below London and ahead of key competitor cities for Brexit projects including Amsterdam (4th) and Frankfurt (7th).
The city has maintained its 4th place ranking in the top ten cities for expansions and co-location projects in the fDi Reinvestment Ranking for 2018. The ranking also places Ireland 10th in the top ten countries for expansions and co-location projects for the second consecutive year.
Dublin remains in 34th Place in Mercer’s 20th annual Quality of Living survey, leaving it the highest ranked city across the UK and
Ireland. London, the next highest ranking, is placed 41st in the survey. Commenting on the results, Consultant at Mercer Ireland, Noel O’Connor said:
“Some of the key factors placing Dublin in 34th place in the survey include a stable political environment, lower levels of air pollution and a strong socio-cultural environment. The results demonstrate that Dublin remains an attractive location for international businesses to send their employees."
The Global Talent Competitiveness Index, which takes into account the business and labour landscape, market openness, education and lifestyle, ranked Dublin 7th and Ireland 13th in its 2018 index. Uunder the indicator which captures R&D expenditure, ICT access and presence of Forbes Global 2000 companies, Dublin ranked 1st, followed by Stockholm and Zurich.
Ireland’s Capital moved six places up the ranking in the Economists Intelligence Unit Worldwide Cost of Living survey. In 2018 Dublin was ranked in 19th place from 25th position in 2017. Dublin is now 9% more expensive to live in than London due, in part, to the sharp decline of sterling and the continued uncertainty surrounding Brexit.
Although recognised as a ‘global leader’ for both its broad and deep financial services activities, Dublin fell one position in the Global Financial Centres Index, from 30th to 31st position. This represents a marked deterioration from the top 10 ranking the city enjoyed in 2009, but a significant improvement on the 2014 ranking of 70th. Amongst western European financial centres Dublin ranks 8th, ahead of Madrid and Stockholm, and has also been identified as one of the “15 centres likely to become more significant”.
Similar increases in positive sentiment occurred across both regions, suggesting the benefits of continued economic recovery remain well distributed on a regional basis. YoY, the overall Dublin Consumer Sentiment Index increased by 14.1 index points, rising by 8.8 index points outside of Dublin. Improved outlooks regarding the general economy and unemployment were the main drivers across both regions. However, respondents outside Dublin signalled a decline in positive sentiment regarding expected financial situations compared to indications last year.
The Index of Current Conditions in the Dublin region rose by 2.0 index points QoQ in Q1 2018 relative to outside Dublin rising by 6.5 index points. This has led to further expanding of the spread in positive sentiment between the two regions. Attitudes both with respect to present financial circumstances and major household purchases saw far weaker quarterly growth in the Dublin region, possibly a result of differences between the two regions in terms of changes in the cost of living.
There was an improvement regarding consumers’ views on the economy across the first quarter of 2018. Slightly improved financial situations relative to respondents’ macroeconomic expectations suggests there is not as much of an improved standard of living as headline figures may suggest. Outside Dublin, a deterioration in expected financial situations over the next 12 months led to a weaker rise in overall consumer expectations.
Dublin current conditions
Dublin expectationS
The Dublin private sector started 2018 on a positive note, seeing further strong growth of output during Q1. The Dublin PMI dipped slightly to 58.0 from 58.9 recorded at the end of 2017, but remained well above the 50.0 no-change mark. Meanwhile, growth picked up across the Rest of Ireland and was slightly faster than in Dublin. Activity in the services and construction sectors continued to rise sharply, but manufacturing growth slowed as heavy snowfall impacted operations in March.
While output growth eased slightly at the start of the year, new business continued to rise at a substantial pace in Q1. Moreover, the rate of expansion quickened to the steepest since Q2 2015. New work has increased continuously on a quarterly basis since the end of 2012. The Rest of Ireland also recorded a faster increase in new business than in the previous quarter, but growth in Dublin continued to outpace that seen elsewhere.
In line with the trend in new orders, the rate of job creation at Dublin firms accelerated during Q1, with employment rising at a much faster pace than the series average. Employment has now increased in each of the past 22 quarters. The rate of jobs growth in Dublin was again faster than that seen across the Rest of Ireland at the start of the year, although job creation also accelerated outside the capital.
about The Dublin Purchasing Managers’ Index® (PMI) series is produced by IHS Markit Economics, an independent research company that produces highly-regarded surveys of business conditions in nations around the world www.markit.com
BY KEELIN FAGAN HEAD OF DUBLIN PROGRAMME, FAILTE IRELAND
Dublin is a vital contributor to Irish tourism and during 2017 our near record breaking visitation levels - 5.8 million overseas tourists- are testament to Dublin’s international reputation as a vibrant, culturally rich and exciting destination. Despite significant challenges in the macro operating environment, Dublin is on a strong footing – with high hotel occupancy levels, increased inbound aviation capacity, including direct flights from China for the first time ever this June. Our tourism businesses are thriving with momentum expected to continue, our aim for 2018 is to have 6 million overseas tourists delivering circa €2.18 billion to the Irish exchequer.
The core focus of Fáilte Ireland is to collectively strive for success by working with our Local Authorities and partners on industry efforts helping Dublin tourism businesses to extend their reach and assert a greater presence for the international visitor. Integral to Fáilte Ireland’s Dublin strategy is to increase seasonality by building out the shoulder season months (November through to
February) to utilise spare room availability during this period as well as promoting the dispersion of visitors right throughout the city and county. Dublin will benefit economically from an increase in tourism and Fáilte Ireland are working closely with the four Dublin Local Authorities to develop and promote Dublin as a must see tourism destination. We promote Dublin as more than a city but also as a destination that is nestled alongside mountains and sea.
Our annual international campaign promotes Dublin under a single brand narrative. Fáilte Ireland and Tourism Ireland on behalf of the four Local Authorities and the Dublin Hotel Industry delivered a bespoke public/private funded overseas marketing campaign which sought to drive incremental business to Dublin from our key source markets of Great Britain, the United States and Europe during the shoulder season. The campaign creatively promoted the unexpected variety of experiences on offer to those who visit Dublin. This €1.7m campaign was extremely successful and this year’s campaign is currently being planned to build on this success.The development of
“ This will mean better navigation to improve overall visitor satisfaction levels encouraging visitors to experience not only our city centre offering but also our coastal villages and mountain experiences. ”
clear tourism related products and increased access gives compelling and motivating reasons to experience more across the geography of Dublin. With this in mind we are also working on developing a five year visitor orientation strategy & implementation plan for Dublin. The objective is to help visitors travel around Dublin by public transport, bike and on foot – and to do this with ease and confidence. This strategy is supported by the four local authorities the National Transport Authority and funded by Fáilte Ireland. Another key focus of our strategy is to build brilliant visitor experiences across Dublin. In the autumn, we will launch a small grants scheme for Dublin’s tourism businesses that will enhance the visitor experience through clever interpretation and visitor management.
The tourism season for 2018 has certainly gotten off to an extremely positive start and we will continue to work through our strong partnerships with the Dublin Local Authorities and Dublin’s tourism providers to ensure that we can realise Dublin’s full tourism potential.
South Dublin County’s first tourism destination brand, “Dublin’s Outdoors”, is a celebration of the beauty of the mountains, waterways and parks of South Dublin County. Throughout the brand’s development, the outdoors and natural amenities stood out in terms of what people living and working in South Dublin County were proudest of. Culture and heritage was also a recurring theme and something locals would choose to recommend as part of an overall visitor experience. The brand values; ‘freedom, tranquillity, nature, freshness and adventure’ were developed as it is easy to enjoy the outdoor recreational activities, stories and food, whether in the mountains, along the River Liffey or in the small towns and villages in South Dublin County.
“Dublin’s Outdoors” also complements the national brand for the capital, adding “freedom, tranquillity, nature, freshness and adventure” to the “exciting and upbeat” feeling the capital aims to create for visitors. It was important when developing “Dublin’s Outdoors” to ensure that it aligned with the wider Dublin marketing brand. “Dublin’s Outdoors” reflects the wider values and includes adventure, its people and the serenity of nature together in one place.
South Dublin County Council welcomes you to ‘Dublin’s Outdoors’ and the opportunity to unlock the treasures, places and stories of South Dublin County.
BY FRANK NEVIN DIRECTOR OF ECONOMIC DEVELOPMENT, SOUTH DUBLIN COUNTY COUNCIL
The opportunity to deliver dynamic new innovation space in South Dublin follows on from actions outlined in the Dublin Regional Action Plan for Jobs and the Dublin Regional Enterprise Strategy. South Dublin County Council’s policy focus on developing and growing new and innovative enterprise to ensure that the potential in our area is properly harnessed through provision of high-quality facilities and supports.
The recent feasibility study involved an audit of the current enterprise, innovation and incubation supports and space in the County (and Dublin Region), identifying the needs and requirements to maximise opportunities in the sector while also recommending the best approaches to meeting those needs in South Dublin. A number of specific objectives and opportunities were identified including:
Enhanced support for the local enterprise and innovation culture adding to the attractiveness of the County as a business location;
Addressing the shadow effect the County feels compared to Dublin City; and
Maximising local productivity growth while creating a hub for innovation which in turn can help to retain and embed a supply chain of innovators
The short-listed options for this exciting project each represent significant but different opportunities to transform the innovation landscape and agenda for South Dublin.” “
The report recommends the delivery of a high-quality, high-impact innovation centre (with a life science / digital tech focus) that combines on site ‘hard’ and ‘soft’ infrastructure, such as:
Specialist buildings: providing affordable office, laboratory and workshop spaces;
Networks: bringing together groups of innovative businesses to collaborate, share and explore development opportunities; Business support: including mentoring, business advice, financial planning, start-up programmes, marketing support, and project-based student/graduate placements.
Prestige and profile: positive branding associated with a highquality innovation hub to help tenant firms with attraction and retention of highly skilled employees as well as individual and collective promotion for firms. The two specific options recommended include:
A three storey 3,000 sq. m innovation centre at a waterfront location in Grange Castle Business Park, focused particularly on life science and digital/IT firms, building on the sectoral strengths of South Dublin and major businesses located in the business park.
A new build (or refurbishment of existing premises) comprising of 3,000 sq. facility within the ITT-Tallaght Hospital corridor, benefitting from close proximity to IT Tallaght (and Synergy Centre on campus there), Tallaght Hospital, Trinity College Dublin’s Medical School, Local Enterprise Office South Dublin and Tallaght town centre with the potential to develop a facility here as the catalyst for an innovation district.
These will both now be subject to final modelling, cost benefit analysis and review by the Council’s Economic, Enterprise and Tourism Development Strategic Policy Committee. We are strongly committed to delivering the right solution to enhance the local economic offering and look forward to identifying the best options (funding and delivery model) to move towards construction as soon as practicable.
Note: These "petrol gauge" charts present the performance of the particular indicator relative to a range of performances from most positive (green) to least positive (red). Each gauge presents the latest value compared to the peak value and the trough value over the last decade (except for public transport trips which cover the past 5 years). The Commercial Property gauges are red at the high and low extremes, in recognition of the undesirability of rents or vacancy rates that are either too high or too low.
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