Monday, June 27, 2022

According to CSO data, tech is Ireland’s most productive and highest wage industry

Ireland has the highest annual income for technical workers, with employees receiving a total salary of €8.5bn in 2019.

According to the Central Statistics Office (CSO), 90,766 people were employed in information and communication technology (ICT) in 5,178 companies.

Of these, over 4,400 were domestic companies working in the industry in 2019, with these organizations accounting for almost half the employment across the sector.

These local companies also paid their employees €2bn in salaries for the year.

The CSO’s report also indicated that nearly 63 percent of those employed in the industry had a bachelor’s degree or higher and that its employees were among the most highly educated in the Irish economy.

The industry is Ireland’s most productive, and large firms with more than 250 employees had €704,193 per employee gross value added, more than 10 times that of medium and small firms.

Read Also:  Banks promising 6 to 7.25% do not pay the same interest on the entire amount, levying such customers lime

Across the region, CSOs reported that 32 percent of all ICT employees were women, with only 5 percent of all telecommunications engineer roles in Ireland being women.

Those employed in the industry also tended to look for a new position within the sector, with 10 pc of all ICT employees who left their jobs in 2019 remaining in the sector.

A fifth of the job changers chose to switch between multinationals and domestic enterprises.

The ICT sector is heavily export-oriented and €117bn of the €128bn output from the industry was exported in 2019. Domestic firms exported half of their output, an amount that reached approximately €2bn.

Read Also:  Your money: how to avoid tax fraud during the filing of documents

Top export products included tariffs for computer and information services as well as IP.

The total investment in this sector was €103bn, 10pc of all capital assets here.

Michael Connolly, CSO’s senior statistician, said the findings reflect the dominance of multinationals.

“The report here presents some startling figures for global corporations: imports and exports that account for a quarter of the GDP for the entire country,” he said.

“Big foreign multinational ICT companies are making huge profits here, most of which go to their owners, but they paid about €4 billion in taxes in 2019 before their profits ran out,” he said. They said.

Nation World News Desk
Nation World News Desk
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
Latest news
Related news
- Advertisement -