Last night I returned from Ireland.  The increase in Irish affluence since my visit the previous year was palpable.

 

Much has been written about how Ireland’s unique demographics (young, educated, English speaking working population) poised it well for vigorous economic growth.  As a result, the signs of affluence are everywhere: a boom in housing construction (primary and vacation homes), luxury goods and the like.

 

One Limerick-based businessman (and avid rugby fan) with whom I met noted just how visible Irish prosperity is becoming; at a recent rugby match, fans’ SUVs (considered posh albeit impractical transportation on narrow back roads) lined up next to the`Q helicopters. 

 

As one Irish newspaper commented last week, “Economic growth and accompanying high levels of confidence have given rise to a new habit of acquiring lots of new assets including cars and holiday homes.  It has also led people to see shopping as a leisure activity…and we have adopted the American model of consumption rather than the European one where experience is championed over material wealth.”  “New Census to Change Marketing”, The Sunday Business Post, January 7, 2007, p. 23.

 

What does this mean for international lawyers?  Increased opportunities to represent luxury good providers in Irish business ventures.  Chances to help travel industry and real estate clients develop properties attractive to Irish consumers.  And opportunities to work with Irish clients seeking a variety of foreign investments abroad.