Celtic Tiger Economy

The Celtic Tiger refers to Ireland’s rapid economic growth from the mid-1990s to the mid-2000s. This period saw Ireland transform from a relatively poor country to one of Europe's wealthiest, driven by foreign investment, especially in technology, finance, and pharmaceuticals. Ireland's competitive business environment, low corporate taxes, and membership in the European Union attracted multinational companies. This influx created jobs, increased incomes, and boosted the economy. However, the boom also led to an unsustainable property bubble. The Celtic Tiger era ended with the global financial crisis of 2008, which caused a severe economic downturn in Ireland.