It is difficult to describe the effect the Celtic Tiger had on Ireland-both Republic and North to anyone who did not visit Ireland during the past fifteen years. The economic statistics for the Republic make almost frightening reading. Annual GDP growth rates of 10% were being achieved-three times the EU average,Unemployment shrank to less than 4% and immigration showed a large increase whereby expatriat Iirish returned back to Ireland in great numbers. During this period Ireland was transformed from one of the poorest countries in Western Europe into the fourth richest country in the OECD.

The social effect of the boom years is equally profound. Consumer expenditure increased dramatically with spending on cars,holidays and particularly property reaching record levels. House prices quadrupled every ten years with the result that the"average" house price in Dublin bypassed its London equivalent in 2004. These increases encouraged much property speculation with the result that 75,000 new houses were built in the years 2006 and 2007. Property developers were so successful they became highly visible and could be compared to the hedgefund and private equity elite of Mayfair in London.Expenditure on Advertising increased hugely from E 344 million in 1995 to E 1.86 billion in 2008. Despite warnings from many economists the spending boom continued until mid 2008 when the Irish government were forced to underwrite the Irish banking system by guaranteeing deposits. The economic slowdown was immediate and very profound. There have been four budgets/financial statements since then where the Government has announced the most draconian range of reductions in Public expenditure,pension reductions and income levies. Currently the Finance Minister has forecast a drop in GDP of 7-8% for 2009 and a further reduction of 3% for 2010. The reaction by the Irish people to these measures has been one of anger. Whilst politicians have been quick to blame the recessions in the US and Britian for our woes, the people of Ireland believe that the truth lies much closer to home. The government see job creation as our major economic battle and that this growth will come from newer,smaller industries. As ever Irelands ability to recover will depend heavily on the economic recoveries achieved by the US and Britain.

The changes to the Media landscape during the past fifteen years have been enormous. Advertisers spent a total of E 344 million in 1995 and this increased sixfold to E 1.8 billion by 2008. Advertisers now have a full range of media options from which to pick. More newspapers,more magazines,more regional TV,more regional Radio.Ireland now has nearly 2 million people who have access to the internet with nearly 1 million using the web on a very regular basis. As more options were brought on stream advertisers became much braver and smarter in their media selections.Gone forever were the days of very one dimensional media planning. Creative treatments also were much bolder reflecting the new National confidence. However with the new economic reality described above the media scene will contract in common with all Irish business sectors. It remains to be seen which media sectors will be worst hit. It is true to say that the ad rates of today are very attractive however this is of little value to an advertiser who has had his budget reduced or taken away completely. Irish adverters must remember that the economic world does keep turning during recession-albeit a bit more slowly. Those companies who do advertise in Ireland currently are being presented with a very wide choice of media and at a very cost effective price.