More than meets the eye
This economic assessment report - The Experience Economy - More than meets the Eye sets out a vision for creating the conditions to achieve world class potential that is sustainable and uniquely Irish.
What is the Experience Economy?
Ireland’s Experience Economy is a vast interconnected ecosystem that encompasses thousands of businesses across multiple sectors, both large and small, ranging from indigenous Irish and foreign multinationals to small businesses employing local people in local areas. It sustains rural areas, SMEs and labour markets with more limited employment opportunities promoting regional development in “hard to reach” but critical parts of our economy and society. The interconnectedness within the Experience Economy ecosystem depends on all businesses being successful if the wider sector is to succeed.
This report provides insights into its value to the Irish economy and key findings from an Ibec survey. The essential segment of the economy faces numerous challenges and this report details key recommendations for Government in areas that require support such as labour market and competitiveness, skills and education, digitalisation, innovation, and sustainability.
Ireland's Experience Economy in Numbers
330,000
Over 330,000 jobs are supported either directly or indirectly from the Experience Economy
20%
20% of all private sector employment in Ireland is accounted for by the Experience Economy.
€4.5bn
€4.5bn in annual wages and salaries bill from direct employment in the sector, including employment taxes
€4.0bn
€4.0bn annual expenditure on purchases of goods and services including over €1.0bn in purchases from domestic food and drink suppliers.
€1 in €3
€1 in every €3 spent of Irish household consumer spending is on the Experience Economy compared to €1 in every €4 spent in EU households
Our policy recommendations
Our key recommendation is the need for the Department of Enterprise, Trade and Employment to have the strategic planning oversight for Ireland’s Experience Economy and responsibility for driving the delivery of overall strategy.
Ibec is calling for deliberate and co-ordinated action at the highest level of Government to ensure the sustainable and economic development of this key business economy across all regions of Ireland.
Download our recommendations
Experience Economy - More than meets the eye
Sharon Higgins and Pat McCann discuss our recent 'Experience Economy - More than meets the Eye' report and the work of Ibec's Experience Economy Policy Committee.
View / Our case studies
The report contains case studies from leading employers within the Experience Economy to further illustrate how a diverse range of businesses work together to create economic impact, response to key business issues and generate significant employment in their local areas. The case studies describe how businesses are promoting the adoption of digitalisation and innovation, tackling environmental sustainability and climate change issues and fostering talent and skills.
