The report evaluates the capital as a city to live, work, and do business, and includes new research from over 300 businesses

KPMG Ireland has released the Dublin 2040 report, a comprehensive business research-based index evaluating Dublin as a city to live, work, and do business.

The report shows 66% of businesses expect Dublin to be the same or better as a place to work and do business in the coming year.

Housing, particularly affordable housing, was unsurprisingly cited as the most critical infrastructure issue facing businesses, ahead of affordable healthcare, public transport, and technology.

Infrastructure was also rated the most important area for improvement in Dublin, followed by urban appeal, education and training, governance and leadership, talent, economic strength, and sustainability.

Despite these challenges, the research reveals several strengths that position the city for future growth, including Dublin’s global and national connectivity, its education and training ecosystems, and robust economy.

Ryan McCarthy, Managing Partner, KPMG in Ireland, emphasised the importance of collaboration for Dublin’s development.

He stated, “Dublin is beyond an inflection point in a number of critical areas and today’s choices will determine tomorrow’s success as a capital city.

“Thus, the pace of decision making needs to reflect the urgency of evolving human needs, climate change, population growth, economic shifts and technological advancements.

“We need to act now.

“The findings of Dublin 2040 highlight significant areas for improvement and opportunities that we believe are critical for fostering a vibrant and sustainable business environment.

“For our part at KPMG, we are also deeply invested as we employ over 3,000 colleagues here in the capital, and look forward to welcoming clients, and visitors to our new state of the art headquarters on Harcourt Square next summer.

“At KPMG we are committed to contributing to the future growth and prosperity of Dublin and we look forward to collaborating with others to drive meaningful change.”

Hazel Cryan, Corporate Finance Partner, KPMG in Ireland added, “Dublin 2040 takes a close look at the city’s strengths and challenges, giving us practical insights that can help policymakers and business leaders make better decisions for Dublin’s future.

“We’re proud to share the report and look forward to seeing how it contributes to the city’s growth.” 

RECOMMENDATIONS INCLUDE

■ Treating housing and real estate investment partners similar to long term Foreign Direct Investment. Policy certainty is attractive to long term investment, as reactive shorter-term measures can have significant negative impacts on investor confidence.

■ Investment to urgently tackle vacancy and dereliction.

■ Reintroduction of targeted Section 23 relief to promote residential living.

■ Significant investment to upgrade the aging distribution and transmission grids, and transition to a two-way energy system.

■ Accelerating the Shannon water scheme to alleviate risk to Dublin’s water supply.

■ Creation of a single recognised Dublin innovation hub.

■ A cohesive city narrative and vision to define Dublin’s unique identity and strengthen its global presence.

For more information, visit https://www.kpmg.ie/Dublin2040