The latest round of EU wide statistics have been completed - where would lazy journalists be without Eurobarometer. In the last year Ireland had the third highest rate of investment in overseas countries. We've so much money at this stage, we cant spend it here any more we're sending it all overseas.
A part of the 35bn which left Irish shores was a significant repatriation of funds to the US as a result of a tax amnesty, however, there was still a very significant level of investment by Irish people in projects overseas. This is obviously in part a reflection that the days when an easy killing could be made in the Irish property market is over and now Irish investors are looking to buy houses and appartments elsewhere. It is also a sign of Irish enterprises making significant aquisitions of property and business interest overseas.
The only worry in all of this is it further demonstrates that Ireland is not the investors market it once was and if we are shipping our own cash overseas it is liklely others may do likewise.
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