EY Economic Advisory Services

In Strategy and Transactions

EY's Economic advisory services, provides a full suite of economic services in the Irish market, helping both public and private sector clients understand the current and future environments they operate in, and allowing vitally-important scenario planning and decision-making.

Related topics Strategy and Transactions

The team

Shane MacSweeney

Shane MacSweeney

EY Ireland Head of Strategy and Transactions; EY Global and EMEIA Infrastructure Leader

Simon MacAllister

Simon MacAllister

EY Ireland Strategy and Transactions Partner. Head of Valuation, Modelling and Economics and Brexit Lead

Loretta O’Sullivan

Loretta O’Sullivan

EY Ireland Chief Economist and Partner

View all

EY’s Economic Advisory Service builds on recent investment in our Government, Infrastructure and Economic Advisory offering and provides the opportunity to build truly unique solutions for our clients across our service offerings.

Many of our Irish clients, domestic and international, are grappling with uncertainty from a variety of perspectives, including social, political and technological. With more than 35 years’ experience in the Irish market, our team brings market-leading experience that helps our clients understand the future economic environment they operate in and navigate the road ahead.

The expanded team also plays a critical role in EY’s commitment to building a better working world in Ireland and gives us the experience to contribute insights and solutions to some of the most challenging issues we face. 

EY’s Economic Advisory service combines vast experience in the market as an essential source of sectoral understanding, economic forecasting and, ultimately, revenue growth for our clients and partners.

Our services include:

  • Cost benefit analysis and project appraisals

    Ireland is coming to terms with a new economic reality. Now more than ever it is critical to closely scrutinise government spending to maximise return to the public. The competing priorities are to stimulate economic activity, while ensuring that necessary infrastructure investments are made and both current and capital spending remain sustainable. Policy-makers need robust and comprehensive analysis of these issues to aid decision-making.

    Private sector projects are also under pressure in the current marketplace, where fewer opportunities to achieve returns are available. Informed decision-making, through economic analysis of market impacts and opportunities, is crucial to success.

    EY Economic Advisory has:

    • comprehensive knowledge of the major areas of public investment and policy development
    • maintained close contacts with all bodies responsible for policy and investment
    • frequently advised public and private sectors on meeting project analysis requirements

  • Economic impact analysis

    Key issues for business planners are market knowledge and future trends: how will population growth, changing age structure, rising incomes, technological advances and regulatory changes affect the market?

    Almost every policy decision will have a market impact, and some can have profound impacts on the economy and society. Policy can also often have unforeseen effects, or affect other markets, and a sound understanding of micro-economic behaviour is essential for assessing these and taking mitigating action.

    EY Economic Advisory has:

    • a longstanding reputation for providing analysis and advice to business and policy-makers
    • strong demographics and econometrics capabilities that allow testing of various scenarios.

  • Regulatory and policy economics

  • Urban economics, socio-economic and regional development

    Regional Demographic Model

    Our Regional Demographic Model provides up-to-date national, regional and small scale population estimates and projections. Few areas of policy are unaffected by demographic issues, and every business needs detailed knowledge of its target market: the size and composition of the population and labour force, geographic breakdown and socio-economic characteristics – all are vitally important.

    Regional Population Projection Model

    Keeping up with the flow of information and interpreting its market impact requires a detailed understanding of the data, including its strengths and limitations. The EY Regional Population Projection Model generates population and household formation estimates and projections over the medium- and long-term up to 2036.

  • Market structure and competition

    The business environment is becoming increasingly complex as both EU and national policies and regulations encroach more on day-to-day activities. Whatever the aims of public policy, it is essential that its full impacts are assessed and taken into account when deciding when and how governments intervene. EY has considerable experience helping government departments, agencies and businesses assess and quantify the impact of new policies and regulations, and advising on the development of new policies and regulations.

    EY Economic Advisory can:

    • analyse the potential socio-economic impacts of new policy measures or proposed legislation
    • develop robust evidence for businesses and their representative organisations to influence the RIA process
    • assess the accuracy and adequacy of the RIAs produced by government departments and agencies
    • help government departments and agencies assess and quantify the impact of proposed legislation
    • help prepare budget submissions
    • develop evidence-based responses to consultations and policy papers by economic regulators and government departments
    • provide advice and reports for legal and planning processes, and expert witness evidence.

  • Expert witness

    The business environment is becoming more complex, necessitating increasing recourse to legal or quasi-legal processes, notably in the planning system. Challenging economic circumstances are also driving an increased recourse to the legal system.

    Complex economic issues are often at the root of these disputes, including competition and market regulation, environmental impacts, business cases underpinning investments, compensation for lost earnings, judicial review and interpretation of legislation and court rulings.

    We provide economic advice and expert witness services.

  • Modelling and Forecasting

    We offer a full suite of economic forecasting, scenario planning and modelling experience.

    Our in-house team operates a macro and sectoral model of the all-island economy using established macro-economic models, which gives us the framework for incorporating forecasting and scenario modelling into client assignments.

    We provide commentary and analysis on all aspects of the Irish economy, and our well-established Economic Eye service and Brexit Watch series will continue to provide insight on economic matters.

    Linking with our global economics team we can incorporate CGE modelling and econometric analysis and bring global data and analysis through our Growing Beyond Borders research platform and data store.

    Our unique offering of economic forecasting, business and policy experience complements our other economic service offerings and allows us to explore the long-term implications of business and policy decisions.

Sectors

  • Agrifood

    The Irish agri-food sector faces a period of unique challenge and opportunity as populations and food demand grow and markets continue to liberalise.

    Ireland has built up strong market positions and expertise in a number of key sectors, but the sector is in a period of dynamic change, which has major implications for its key players and producers. Government and EU policy plays a major role.

    • EY is Ireland’s leading proponent of project and policy analysis in Ireland
    • We regularly analyse global commodity markets and the macro-economic environment

    For further information please contact John Higgins

  • Construction

    From its 2006 peak, representing almost one quarter of total economic output, construction has experienced the severest contraction in living memory, resulting in falling prices, business failures and substantial job losses, with effects felt throughout the supply chain.

    Public sector investment is beset by fiscal constraints, and the private sector is likely to remain depressed for the foreseeable future. Substantial supply overhangs, along with a lack of confidence and finance, are combining to severely restrict activity.

    • EY has the acknowledged experts on Ireland’s construction sector
    • For the past decade we have produced the annual Construction Review & Outlook
    • We are uniquely placed to provide help to public and private sector decision-makers

    For further information please contact Shane MacSweeney

  • Creative industry

    The creative and cultural sectors are vital components of the Irish economy, and EY regularly provides economic analysis on these sectors.

    Our analysis is often used by policymakers to help them make decisions regarding the best allocation of limited funding, but can also be used as an input to public consultations and legislation review.

    EY Economic Advisory offers:

    • economic analysis on the creative and cultural sectors
    • economic impact studies for cultural facilities and initiatives
    • cost benefit analysis of cultural investments.

    For further information please contact John Lawlor

  • Energy

    Developing cost-competitive energy supplies is a prerequisite for continued economic and social progress, but meeting this requirement is becoming ever more challenging for policy-makers and businesses. Rapid economic and demographic change, market restructuring, infrastructure deficits, import dependence, global warming, and environmental commitments all add to the complexity. Meanwhile, the prospects of higher prices, increased regulation and fiscal changes are facing suppliers and consumers throughout the sector.

    EY Economic Advisory provides:

    • analysis of primary energy requirements
    • energy demand forecasts
    • regulatory and fiscal impact studies
    • socio-economic and environmental cost benefit analysis
    • analysis of gas capacity and future gas demand
    • responses to consultation/policy papers
    • energy efficiency and renewable energy policy.

    For further information please contact Ian Venner

  • Environment

    Increasing environmental regulation and taxes, while aimed at protecting the environment, generate considerable implications for the economy. These pressures are expected to intensify, with the main focus likely to be on global warming, alternative energy, water and waste, transport and agriculture. We are uniquely placed to influence public policy formation through robust, high quality economic arguments that address environmental issues and policy-makers' concerns.

    EY Economic Advisory provides:

    • cost benefit analysis and project appraisal
    • economic impact studies 
    • regulatory impact analysis
    • expert witness
    • budget submissions.

    For further information please contact Lorraine McCann

  • Health

    We have experience producing cost benefit analyses for the health sector in Ireland in compliance with Department of Finance and World Health Organisation guidelines, and experience in the economics of the healthcare sector, including health insurance and regulating the healthcare professions.

    For further information please contact Justine McCarthy

  • Housing

    House-building has been a major driver of the Irish economy over the last decade-and-a-half, with output reaching almost 90,000 units in 2006. However, this level was unsustainable, and the sector has since experienced an unprecedented contraction, exacerbated by wider recession and fiscal difficulties, and is characterised by supply overhang, credit restrictions, a collapse in consumer confidence and increased social housing lists.

    There are now major challenges for policy-makers and businesses, as the economy restructures.

    • We produce the annual Construction Review & Outlook for the Department of Environment, Heritage & Local Government
    • We are a member of EUROCONSTRUCT®, an association of European experts in housing and construction markets

    For further information please contact Cian O’Donavan

  • Legal

    Economics can play an important role in the legal field and legislative drafting. This has been recognised in the US and continental Europe for many decades, and in Ireland its contribution is growing all the time. EY is at the forefront of this growth: we offer a suite of law and economic services tailored to clients’ needs and which include descriptive, analytical, and qualitative approaches.

    • We provide economic insights that will add to the provision of legal advice in the areas of competition and medical law, and inward investment
    • We have a strong law and economics client base across private and public sectors

    For further information please contact Annette Hughes

  • Tourism

    Tourism is recognised as key to Ireland’s economic recovery. Having lost market share, the sector has successfully restored its competitiveness. Challenges and opportunities abound, as new markets open, and the range of competing destinations and tourist experiences increases.

    The sector needs a combination of private and public investment and regulation to prosper. In particular, justifying public investment can be challenging, given the difficulty in matching benefits to particular infrastructure or policies.

    For further information please contact Annette Hughes

  • Transport

    EY has considerable experience of transport markets and has been engaged in a wide range of studies across all modes – rail, road, marine and air.

    We have a long history in project and programme appraisal, including as part of feasibility studies at firm level, and national ex-post evaluations for the EU. We have considerable experience of modelling and demand forecasting, impact and transport policy analysis, including industry restructuring and reform and competition and regulation policy.

    EY Economic Advisory has:

    • been engaged in a wide range of studies across rail, road, marine and air modes
    • a long history of project and programme appraisal and feasibility study
    • experience of modelling and demand forecasting, impact analysis and transport policy analysis.

    For further information please contact Shane MacSweeney

  • Land use/planning

    Land use planning is key to economic and societal well-being, but catering for society’s accommodation, infrastructure and amenity needs in a sustainable way represents a major challenge. Zoning, infrastructure and land use decisions need to be well grounded in economic realities: the medium-term sectoral economic outlook, regional demographic characteristics and international competitiveness issues need to be taken into account to ensure the viability of development.

    EY Economic Advisory provides:

    • socio-economic inputs to master planning
    • economic impact analysis
    • ex ante project appraisal
    • mid-term review
    • ex post-evaluation of regional policies and programmes.

    For further information please contact Shane MacSweeney

EY Economic Advisory: Residential Buildings Report

The latest GeoDirectory Residential Buildings Report prepared by EY finds a 17.1% increase in residential address points in Q2 2024 compared to previous year.

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Row of houses
Empty warehouse racks

EY Economic Advisory: Commercial Buildings Report

The latest Geodirectory Commercial Buildings Report, prepared by EY Economic Advisory, provides an analysis of the commercial building stock across the towns, counties and regions of Ireland. The report finds that the national commercial vacancy rate is at its highest level since the report’s introduction in 2013.

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Strategy and Transactions