NCB says that the unique population and age structure that has fuelled much of Ireland's recent prosperity will continue for the next 15 years.

In a new economic report called '20-20-Vision: Ireland's demographic dividend' NCB says Ireland can expect to take in 70,000 new migrants per year for the next five years.

It says economic activity will expand by about 6% per year.

NCB says there will be 30% more people living here in 15 years time, and that by 2020 one fifth of the population will be made up of immigrants.

But a big population means big consumer spending especially on discretionary items such as leisure, travel and entertainment but also on pensions products.

NCB also expects house builders to continue to do very well with about 65,000 new houses per year needed for the next ten years.

Car showrooms will also benefit with the number of cars in Ireland set to double by 2020.