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The Republic of Ireland is an English speaking independent constitutional democracy with a population of approximately 4 million people. It is a member of the European Union and is located beside the United Kingdom. Due to record levels of mainly high technology inward investment by multi-nationals, it is today Europe's fastest growing economy, named by the international press as the "Celtic Tiger". Since 1988, GNP has grown an average of 5.1% annually in real terms, more than twice the EU average. In 1995-96, Ireland's economic expansion of 7% was the highest of any industrialized country. From a history of colonialism, famine, poverty and emigration, Ireland has emerged in less than a generation as a model of how a small nation with few resources other than brains can succeed in the era of economic giants and globalization. Ireland has achieved high growth, low inflation (1.4%), major deficit and debt reduction, sharp rises in incomes and exports, and spectacular increases in foreign investment. The local staples of small farms, crystal, crafts, horses, stout and whisky were overtaken by the new global industries of computers, software, information technology, healthcare, advanced financial services and mass tourism.
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