In a global economy, city-regions compete internationally as attractive places for investment and development. As the economic driver of the national economy, and the core of the city-region, becoming more internationally competitive is a key challenge for the city.
Dramatic change in global and national economies will continue and is likely to accelerate over the coming decades, and international competition for investment will intensify. Cities must respond to continuing radical change. The economies of metro-regions must constantly re-invent themselves and respond quickly and effectively to problems in relation to the enhanced mobility of capital, skilled labour and technology innovation.
Dublin is more vulnerable to global competition compared to its competitor cities in other countries with greater populations and larger economies. Like the national economy, Dublin’s economy must be an exporting one. Global competitiveness challenges include a relatively small population, infrastructural deficits, and cost competitiveness issues.
Ensuring a sustainable supply of new commercial floor-space and housing provision, and to keep property prices and rents at an affordable and competitive level, remains a challenge for the city.
With economic and employment growth returning, it is a priority to ensure that the high-quality re-development of the regeneration areas is significantly advanced in this cycle of economic growth.
Dublin must promote or market itself at an international level to a range of audiences,
including investors, key workers, students and other visitors. Events, as well as superior city planning, high-quality urban design, and iconic architecture, can all enhance competitive city brands.
Ensuring collaboration across the city region with all relevant stakeholders is also crucial, as well as ensuring a stronger voice for Dublin.