Dublin is the administrative and political capital of Ireland housing the national government and president of the state and the wider Dublin region accounts for 38% of the national economy. The Dublin region has a population of 1.34 million people while the population of the Dublin City Council administrative area is 550,000 persons.
The city has been through a period of transformation in recent years, reflecting the financial pressures from fiscal adjustment by central government and the impact of the performance of the general economy.
As a small open trade dependent economy Ireland and Dublin needs to ensure that it maintains its competitive advantage.
Economic success has primarily due to the national led policies and initiatives developed throughout the 1980’s up to the present focused on attracting investment from overseas. Today it is a European and international gateway for the many multinational firms that have established their headquarters in the city.
A second wave of regeneration sowed the seeds for the emergence of what is now known as ‘silicon docks’. The Grand Canal Dock is now a centre for leading tech companies such as Google, Twitter and Facebook. The docklands area of Dublin was identified as the focus for the Smart district project due to its strategic location and the presence of key stakeholders and projects.