Ireland became rich through a strategic shift to attract multinational corporations with low corporate taxes (12.5%), EU membership providing market access, significant investment in education, and a pro-business environment, especially during the "Celtic Tiger" boom (1995-2007). This led to massive foreign direct investment (FDI), particularly in tech and pharma, transforming it from one of Europe's poorest nations into a wealthy, globalized economy, though this growth also brought challenges like housing affordability.
According to Oxford economic historian Kevin O'Rourke, Irish independence coupled with membership of the European Union have been crucial to Irish economic prosperity. Membership of the European single market reduced Irish dependence on the British economy and facilitated a modernization of the Irish economy.
Ireland is referred to as a tax haven because of the country's taxation and economic policies. The country's tax laws heavily favor businesses, and the economic environment is very hospitable for all corporations, especially those invested in research, development, and innovation.
For most people, a household salary of €100,000 would put a family in the category of “rich”. And if you earned that last year, you were among the top 6.6pc of employees, Revenue figures show. The average gross pay for a PAYE worker nationwide was €42,100 in 2024, while the Dublin average was €49,500.
Ireland - $147,878 GDP/Capita (PPP)
Ireland ranks fourth globally by GDP per capita (PPP) in 2025, reflecting a high-income, FDI-driven economy rooted in the “Celtic Tiger” transformation of the late 1990s and 2000s.
Housing was seen as the most important issue facing the Republic of Ireland as of 2025, with 64 percent of respondents placing it as one of the top two issues facing the country.
The Living Wage for 2025/26 is €15.40 per hour. This is a €0.65 (4.4%) increase from the 2024/25 rate of €14.75 per hour. The new Living Wage rate is €1.90 above the current National Minimum Wage of €13.50 per hour.
To afford holidays, hobbies, and a social life, adding another €500 to €1,000 monthly to your budget may be necessary, depending on your lifestyle. A single person living in Dublin may need around €40,000 to €50,000 annually for a comfortable lifestyle, while outside Dublin, €35,000 to €45,000 could be sufficient.
There is a limit to how far back you can claim tax refunds under Pay As You Earn (PAYE) and Self-assessment. The limit is four years, meaning you can only request reviews or claim refunds for the last four years. For example, claims for 2021 must be made by 31 December 2025.
10 Best Tax Haven Countries in 2026
The Double Irish arrangement was a base erosion and profit shifting (BEPS) corporate tax avoidance tool used mainly by United States multinationals since the late 1980s to avoid corporate taxation on non-US profits.
The richest country by GDP (PPP) per capita is often cited as Singapore, followed closely by Luxembourg, depending on the specific report and year, with Singapore leading in 2025 estimates with around $156,000-$157,000 per person, while Luxembourg is a strong contender just below that, highlighting small, finance-heavy economies as wealthiest per person.
Their substantial indebtedness to Ireland's central bank was repaid over a period of years, during which the interest costs were very low, thanks to a complex mechanism devised at the time of their liquidation in early 2013 (Honohan, 2023).
Ireland's Top 10 Exports
Top earners
An annual income of €100,000 represents the top 6.5% of earners, and a lot of career trajectories will see people working their way up to the €100,000 mark.
Housing: Overall, housing in Ireland is about 5.3% cheaper than housing in the U.S. Rent: In Dublin, rent for a one-bedroom apartment in the city center is around €2,200 ($2,400), comparable to high-cost U.S. cities like New York and San Francisco, where rents can exceed $3,000.
GPs: Irish GPs can expect to earn between €110,000 and €140,000 or more, depending on location and years of experience. For more detailed information on salary bands in Ireland, you can refer to the HSE salary scales.
"The ongoing demand in the Ireland talent market means companies will continue to struggle to attract key talent in the current business environment. Talent shortages have now reached record highs with 83% of employers across all sectors and organisational sizes finding the current talent market challenging.
The agency's latest analysis of earnings broken down by gender and county indicated that men represented 73.6 per cent of those in the top 1 per cent income bracket (those earning above €300,000 a year). The proportion of women among the State's top one per cent of earners is, however, increasing.
Con: High cost of living
Ireland is notorious for its high cost of living. The country ranks as the second highest in price levels for consumer goods and services in the EU at 34% above the average. If you're emigrating from the UK, you may be used to high prices already.
Ireland will have a greater proportion of elderly people in the population by 2025 and life expectancy will have increased further. Healthcare costs are likely to continue to increase and with technological advancements personalised genetic-based care will also be more pervasive.
The term 'Troubles' has been used to refer to political instability on the island of Ireland since at least the 17th century. It was probably used in popular conversation in Ulster during the period of the United Irishmen's rebellions and 1798 Rising in Antrim and Down.