While Brexit has caused a lot of uncertainty in the remainder of the British Isles, Ireland has the security that a lot of English speaking people crave, causing a bit of a boom. If Brexit takes place, Ireland, with it's strong UK connections due to geography, may develop into a real economic power.
Ireland’s economy expanded by more than three times the previous estimate last year, posting growth of more than 26% following a flurry of foreign investment.
Although, for any growth in an economy of a country can be trace to increase in investment and increase in production. Ireland were opportune to have international companies investing in their economy whereby increase production that lead to increase of exports and import. So this can happen to any other country where there is an opportunity, but this doesn't determines how strong the economy of that country. A growth in an economy can only be sustained if the right policies are put in place to keep that growth, rather, there will be a drastic fall in trial to come.
The Irish economy grew by 26.3% in 2015, compared with the expected rate of 7.8%, after foreign companies that switched their base to Ireland were included in the value of its corporate sector, pushing up the value of the state’s balance sheet.
The process of switching tax domicile after a merger or acquisition, known as an “inversion”, has increased in recent years, and Ireland has become a popular end destination in these corporate man oeuvres because of its low corporate tax regime.
No, Ireland is not the strongest economy yet, and it will take a while before it becomes such. There are many other economies that have the potential to become the strongest well before the Irish economy does, including Germany, China, the United States, and Japan. While it is encouraging to see the Irish economy growing steadily stronger, it will be a while before it's the strongest on our planet.
While it cannot be argued that Ireland is one of the front runners as far as a growth leader among those that were deemed Europe's "crisis countries", I would not go so far as to say its economy will ever become the strongest in the world. Let us not forget the United States and China.