Updated financial strategy sets target of 5,000 new jobs

The government has set a target to increase the level of employment in the international financial services sector by a net 5,000 by 2026.

The target is contained in an update to the Ireland for Finance strategy, which sets out the future development of the sector over the next four years.

The government says it will achieve job growth by promoting green, sustainable and digital financial services.

There are currently 52,800 people working here in international financial services – the highest level ever – with a third of them in areas outside Dublin.

The vision of the strategy is to develop and expand Ireland, in a sustainable way, as Europe’s leading financial center and location of choice for specialist international financial services.

The original strategy was released in 2019 and was to last until 2025. The updated strategy has been extended for two years.

The strategy has also been reconfigured to reflect the increased importance of digital finance and sustainable finance.

“I thought it was important to look at how the government can refocus its policy in response to all the changes that industry and society have seen in recent years,” said the Minister of State at the Department for Finance, Sean Fleming.

“Sustainable and digital transitions feature prominently as great opportunities for the Irish economy.”

The five main growth themes of the strategy are sustainable finance, fintech and digital finance, diversity and talent, regionalization and the promotion and improvement of the operating environment.

A Ministry of Finance steering group will also be expanded to include the private sector.

“Partnership between the private and public sectors is at the heart of this strategy,” Mr. Fleming said.

“Ensuring Ireland has the right mix of education to meet the demands of industry in the future is essential. Our employment targets are ambitious but can be achieved if everyone works together. “

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