Dublin Among Top Wealth Producers, Says Survey

by Jason Gorringe, Tax-News.com, London

13 May 2002

According to a recent survey conducted by Barclays Private Clients, Dubliners produce more wealth than Londoners, at GDP of 36,591 euros and 35,072 euros per person respectively.

The survey, reported in the Irish Independent on Friday, suggested that the city's economic prosperity can be explained by the strong economic growth experienced by Ireland during recent years in which many other European economies barely grew at all. The survey also revealed that in terms of total size, Dublin's economy is worth more than one third of Ireland's GDP as estimated in 2001.

Speaking to the Irish newspaper, Gordon Rankin, Barclays Private Clients Marketing Director observed that: 'The wealth of countries has never before been so concentrated into urban areas, and nowhere is this more marked than with Dublin producing over a third of the Irish economic output. There is no doubt that certain cities are set to increase their domination of wealth production.'

He went on to speculate that: 'Perhaps over time, as globalisation continues, this will lead to a situation whereby cities dominate the world in the same way that countries do now.'

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