EY projects Irish financial services output to grow 3.4bn by 2028 [Video]

Output in Ireland’s financial sector could grow by 26% by 2028 while employment could increased by a third (+34%) over the next four years, according to EY Ireland.

The Big Four giant has identified significant potential for growth in the sector in a new report based on interviews with 140 financial services leaders in Ireland and analysis of key success factors of the 10 fastest-growing markets globally.

EY has made a series of recommendations across five key areas underpinning the most successful financial services markets: infrastructure, talent, international trade, macroeconomic fundamentals, and the regulatory framework.

The company estimates that gross value added by Ireland’s financial sector could increased by €3.4bn by 2028 by “effectively harnessing existing advantages in these areas and continuing to make progress in addressing bottlenecks”.

Additionally, employment in the sector could increased by an average of 6% per year from 2024-202, resulting in an extra 30,000 above the projected baseline.

The recommendations include leveraging Ireland’s positions as a …