UCD has launched a Business Alumni Investment Index, having surveyed more than 60,000 graduates on Ireland’s investment prospects.

The bottom line – alumni based in Ireland are more upbeat about our prospects and likely to invest here than those based abroad.

Sentiment is among those living abroad is improving but, while 57 per cent are upbeat on Ireland, there’s little evidence of them voting with their feet and coming home when asked about their intentions on that front.

In a discussion on foreign direct investment at the index launch, Mason Hayes & Curran partner Philip Nolan pitched the Smithwick brewery site in his native Kilkenny only for HP Ireland's Martin Murphy to note the need for regional balance.

"It's a bit like being too dependent on one hurling team," he quipped, as IDA director of strategic policy Brendan McDonagh, a Mayo man still smarting from the football semi-final replay loss, looked on.