Almost half of companies operating in Ireland's financial services industry felt that the response of the sector here to Covid-19 was better than that of peers in competing jurisdictions.
That’s according to a new survey published today from Financial Services Ireland, the Ibec group that represents the industry, as part of its major new campaign, 'Ireland’s future through finance’.
Furthermore, 84% of survey respondents feel that financial services organisations are now planning operational investments in jurisdictions where crisis resilience is high, highlighting the potential growth opportunities for the sector in Ireland against the backdrop of Covid-19.
Marking the launch of their new campaign, FSI Director, Paul Sweetman said the campaign highlights how the sector can become a new source of growth for Ireland.
"Informed by a survey of FSI members, several recommendations are proposed that will enable Ireland to seize the economic opportunity now evident in the financial services sector," he said.
He added that the Covid-19 crisis has taken a severe toll on society and the economy.
"While serious challenges remain, Ireland’s financial services sector has shown an exceptional ability to perform on the international stage and act as a crucial economic player in the domestic economy. The sector continues to demonstrate to global peers its resilience, innovation and competitiveness," he said.
Mr Sweetman said the survey findings show that this crisis-resilience presents a significant opportunity.
"Ireland can enhance its competitiveness as a premier location to attract financial-services focused inward investment, introducing fresh capital and providing additional high-quality employment at a time when needed. Today's report contains a suite of recommendations for Government to best position the financial services sector to secure global market share and bolster the national economy," he said.