Author: Logan Suddath | Major: Accounting | Semester: Summer 2024
Croke Park Stadium in Dublin
This summer, I spent four weeks studying abroad in Ireland as part of a long-running University of Arkansas program in partnership with the University College Dublin (UCD). My sole goal while attending this program was to strengthen my International Taxation knowledge, and while that did indeed happen, I see now how ignorant I was in setting it as my “sole goal.”
This country and her people have imparted upon me a greater understanding of not only the world, but myself. I choose to study in Ireland due to its strong business environment. Dublin is called the Silicon Valley of Europe, owing to companies such as Google, Microsoft, Apple, and more all having their European headquarters in the city. I wanted to know why, and this program’s opportunity to talk to the accountants who managed their public filling presented the perfect opportunity.
Academically, I learned even more than I was expecting. Through speaking to experts at EY, PWC, and Deloitte, taking classes with UCD’s own Dr. Sean Cassidy, and independent research, I came to realize that I was approaching my goal completely wrong. I was separating policy from culture, when the two were, in fact, a unified whole. I needed to understand the culture of Ireland, from its fight for and eventual independence to the moral values it holds today. Ireland is a young nation, only founded in its modern form in 1949, after hundreds of years of rebelling against British rule. After gaining some of their independence in 1922, and then fighting a civil war until 1923 to best determine how to achieve the rest, the country was in dire economic straits, especially after World War II, even though the country remained neutral.
As such, Ireland adopted an economic strategy of Foreign Direct Investment (FDI), courting foreign companies to build facilities in the country with lucrative tax benefits and the offer of a skilled, multinational workforce. The strategy worked very well. With strategies such as the Knowledge Deposit Box (KDB) specifically appealing to tech companies, Ireland’s economic prospects boomed, ushering in both the Celtic Tiger period and a moment of “Leprechaun Economics,” where their GDP jumped 34.4% in 2015. In speaking with the accountants for these companies, I learned that Ireland has become the gateway to Europe for American companies: an English-speaking nation with great tax benefits that can open up global market potential. The only reason this policy works, however, is due to the nation’s culture.
The most surprising and eye-opening moment on this trip came when I visited Croke Park on June 10th. I had been in the country for around a week, and was realizing how similar it was to the States; If it were not for the Gaelic announcements on the bus speakers, I could have pictured myself in an older, east-coast city like New York or Boston. My experiences on the 10th made it all click. Our program for the day revolved around the Gaelic Athletic Association (GAA), and the three sports they governed: Handball, Gaelic Football, and Hurling. After trying, and somewhat succeeding, at planning the three sports we visit the largest venue for them in the world, and the fourth largest stadium in Europe, Croke Park. At the stadium, our guide said something simple to him, but astonishing to me: all of the players were amateur athletes, all playing exclusively for the province they were born in. Coming from the US, where player salaries and trades are as integral to the game as the gameplay itself, I was astonished.
This moment, in conjunction with many more during my study abroad has shifted the way I will be studying business going forward. A new cultural perspective has taught me there is more to studying business than just economic policy, the human and cultural elements are the true keys to success. Ireland, with its rich history and diverse culture, has taught me this lesson, and I will never forget my experiences in that wonderful country.