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Ireland has now become “the Internet capital of Europe” it was claimed on Wednesday, after online merchant PayPal announced the creation of 150 new jobs at its base in Blanchardstown, Dublin.

The global Internet giant already employs more than 1,100 people in Ireland. The company processes online Internet payments and is owned by Internet auction website eBay.

The company joins Facebook, Google, and YouTube in choosing Ireland for its European base.

Speaking about the job creation, Barry O’Leary, chief executive of IDA Ireland, said Ireland was fast becoming a magnet for online companies, due to its skilled workforce and low corporation tax.

"PayPal's investment represents a key endorsement from one of the world's leading online companies, and builds on Ireland's reputation as the Internet capital of Europe," he said.

Read more: Irish video nuggets from YouTube stream SEE VIDEOS

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