Dublin accounts for 40% of Irish GDP, twice the 20% share of London in the UK economy.

That is according to a new Davy report, that looks at how important Dublin is to the country’s recovery.

The reports says that employment performance in Dublin has been 'broadly similar' to the rest of Ireland since 2011, despite Dublin accounting for 60% of the pick-up in multinational sector jobs since 2009.

Conall MacCoille is the chief economist at Davy. He spoke to Newstalk Breakfast this morning about the findings.

He told Ivan that 40% is "an enormously high number. It shows how reliant we are on the capital for growth overall."

"If you look at employment, Dublin is still 30% of overall employment in the country. If you were to extend that to the counties around Dublin... that actually rises to 40%, so you are looking at a big share of employment just in that small geographical space.

"What surprised us is that since the trough of employment in 2011, it appears that employment in the rest of the country has performed more or less the same as in Dublin," he added.

In terms of potential consequences of Dublin's economic share, Mr MacCoille told Ivan that "the one really worrying thing is that if we are reliant on Dublin, we are now seeing the shortages of residential property but also office space. There are very few grade A offices out there in Dublin at the moment.

"If we had four or five large multinationals turn up wanting to employ a thousand people, I think we would struggle to find office space for them to fill. That is a real concern."

You can listen to the full interview below: