CEOs Remain Optimistic Despite Geopolitical Uncertainty

Ibec, the group representing Irish businesses, has released its annual CEO survey, revealing that CEOs in Ireland remain largely optimistic about the broader business environment, in line with expectations for 2024. Looking ahead, most CEOs (88%) anticipate that the cost of doing business will continue to rise in 2025. The research also shows that six in ten firms expect increased demand and turnover, along with growth in both domestic and export sales—figures that remain largely unchanged from recent trends.

The research, conducted predominantly before the Programme for Government was finalised, shows that political uncertainty in Ireland as a ‘business risk’ has notably decreased compared to the previous year. However, on the international front, there is growing recognition of the impact—or potential impact—of rising geopolitical risks on businesses. Concerns over international trade and the risk of tariffs have increased by 8% since 2024, making them a key external priority for CEOs. The top two policy priorities identified for the new Government were housing (78%) and cost of doing business (74%).

The top three internal business priorities identified by CEOs are the overall cost of doing business (62%), talent retention, upskilling, and attraction (51%), and improving productivity (47%). Externally, the primary concerns are the cost of doing business (79%), business regulation and ease of doing business (54%), and international trade risks (30%).

Fergal O’Brien, Executive Director of Lobbying and Influence, said:

“CEOs report that while the overall outlook remains positive, recent geopolitical shifts have significantly altered the landscape. This is evident in the sharp rise in concerns over international trade and potential tariffs. Notably, the research was conducted before the most recent US announcement of intent to pursue tariffs, meaning current concerns are likely even higher.

The positive news is that despite this, many of the growth obstacles for CEOs are EU and domestic factors. The EU’s Draghi Report highlights major challenges for Europe—including high energy costs, project delays, regulatory burdens, and an incomplete Single Market—issues that are equally relevant to Ireland.

Ireland has strong potential to remain competitive, supported by a skilled workforce, openness, stability, energy potential, and infrastructure development. To unlock its full economic potential, the Government must pursue key commitments—such as enhancing competitiveness, accelerating housing and infrastructure projects, and reducing regulatory burdens—with clarity and speed.”