Irish telecommunication service provider Farice has just selected Galway as the European landing site for a new undersea telecommunications cable. The company has been on the hunt for the optimal landing spot from Europe to Iceland since early 2019. Galway was selected for both environment and business reasons. Here’s what you should know about this new project.
What is an underseas data cable?
While most people assume that international telecommunications occur by satellite, this is a misconception. Today, 99 percent of data traffic that crosses oceans is carried by undersea cables. Underseas data cables are highly reliable, especially when multiple paths are available should a cable ever breath. Farice currently operates two submarine cables that connect Iceland to Northern Europe. This new cable will connect Ireland and Iceland specifically.
Ireland has established itself as a leader in the European digital infrastructure development. Thus, connecting Iceland and Europe through Ireland with a new submarine cable is an attractive option. Iceland and Ireland are also relatively close together geographically.
Galway, in particular, is a city known for business, education, and hospitality. It also has a “suitable seabed” for the data cable which will make the submarine communications cable easier to install.
What are the benefits of the data cable?
Underseas data cables carry significant amounts of data for international telecommunications and internet traffic. In the past, they have greatly influenced everything from connecting diplomats to intercontinental trading to supporting stock exchanges. Having a data cable from one piece of land to the other provides the opportunity to exchange information that wouldn’t otherwise exist.
By installing this underseas data cable in Galway, there will be enhanced global activity. The system will be a catalyst for attracting high-tech businesses to the city and its surrounding regions. It’s an opportunity for Galway as well as Ireland as a whole to grow and expand.
What sectors will it affect, and how can investors benefit?
Historically, Galway is known for business, education, and hospitality. However, the underseas data cable will bring increasingly more digital and technology businesses to the city. Ireland is at the centre of European operations for international businesses. It
also has a rich and diverse pool of skilled labour, which means there’s an opportunity for growth.
If you’re an investor looking to benefit from this new data cable, invest in Galway’s growing sectors. Or you can also take a look at undersea data cable business itself. With the COVID-19 pandemic rearing its ugly head, many are calling these cables the “railroads of the future.” Read this Wall Street Journal article for more, Property Investors See Fiber-Optic Cables as ‘Railroads of the Future.’
This new underseas data cable in Galway will help improve communications and boost growth. The Icelandic landing site will be on the Reykjanes peninsula, but the final location has not yet been selected.
This cable is an important step toward the future of international business and European operations, and the excitement is all centred in Ireland