The demand for luxury internet services in Dublin, Limerick and Cork is expected to rise over the next three years, according to a report by a think tank.
In Dublin, which will see an increase in demand for SMEs, the figure is expected rise by more than half from today, to €5.8bn in 2021.
That is the highest figure yet for a Dublin-only SME, according a report from the Institute for Business and Economic Research.
Dublin-only and Cork-only services account for almost a third of the total value of SMEs in the capital.
The institute, which is part of the Irish Institute of Technology, found that demand for the services could increase by almost half in 2021, from €4.5bn to €6.1bn.
This figure is up from €3.6bn in 2020.
The report found that in Dublin- only services, there is a “significant” increase in the number of businesses and small companies, compared with today.
It also predicts that demand will rise by nearly 40pc in Cork- only.
The Institute for Economic Affairs (IEEE) said that the SME sector in Dublin was expected to generate €3bn of additional employment in 2021 and €1.6 billion in 2021 alone.
Its report noted that a number of factors were behind the rise in demand, including increased demand from overseas and a rise in the value of the EU’s common market.
The Dublin-specific SME index is calculated using gross domestic product (GDP) data for 2021.
This means that an increase of 1% is added to the total figure for Ireland, and an increase 0.3% to the number for Ireland.
A large increase in service provision across the city was also a factor behind the increase in SME employment, the report said.
“Demand for luxury services across the City has risen markedly in recent years, as demand has become more concentrated around the city centre,” it said.
The report also predicted that demand from other parts of the country would increase in 2021 as a result of the Brexit vote.
It said that demand would grow in the South and West of the county, with an increase for Dublin- mainly, of more than 40pc.