The Republic’s economy may be heading south, but a huge number of its citizens are most definitely travelling north — in search of bargains.

And judging by the countless southern registered cars streaming across the border to shopping centres every day, they certainly appear to be finding them.

Now, with a 2.5% reduction in value added tax due to kick in today the volume of so-called “VAT invaders” from the south is expected to increase significantly and provide a boost to the local retail economy.

Indeed, recent claims by southern politicians that shopping up north is “unpatriotic” have failed to deter a growing army of bargain hunters fuelled only by the desire to save money.

A snap survey carried out by the Belfast Telegraph in shops in Newry and Dundalk last week revealed huge savings of up to nearly 30% between towns which are a mere 15 miles apart — but located on opposite sides of the border.

Among the major retailers visited in both Northern Ireland and the Republic were River Island, Dunnes Stores, Boots, Clarks, Barratts and Lifestyle Sports.

Burger King, Costa Coffee and O’Brien’s were also included in our spot check, which was designed to determine the cost differential that exists for consumers depending on where they shop.

The study also compared the prices of identical products at Next on both sides of the border, using the company’s website where necessary.

Ultimately, the results make sombre reading for those of us reliant on the strength of the pound, but they unequivocally underline some thrifty opportunities for ‘Euro tourists’.

At River Island in the Quays Shopping Centre in Newry, for example, a brown faux fur swing coat for women was priced at £69.99 compared with €102 (£85.37) at the Marshes Shopping Centre in Dundalk. Southern shoppers therefore stood to gain £15.38 or 18% just by travelling a few extra miles.

Pampers cost almost 30% less at Boots up here, where a convenience pack of 34 baby dry size 4 nappies bore a £5.99 price tag, in contrast to €9.99 (£8.36) across the border.

Meanwhile, at Dunnes Stores in Newry there were possible savings of over 20% on some menswear items. A two-pack shirt and tie set cost £12 at the Buttercrane Shopping Centre, for instance, as opposed to €18 (£15.07) down the road in Dundalk.

Even when shoppers make a pit-stop, they notice the difference in their pockets and purses.

Southern visitors can expect to fork out a staggering 27% less for refreshments at O’Briens at the Buttercrane Shopping Centre where a large cup of cappuccino costs £2.15 compared with €3.50 (£2.93) at the same outlet in the Marshes.

And fans of the Whopper meal at Burger King saved 19% by opting for a deal on this side of the border, where it costs £4.69, compared to €6.95 (£5.82) in Dundalk.

The straw poll, which comprised a total of 10 well-known retailers operating in both countries, was based on a random selection of items in each store.

Using product serial numbers, we priced identical branded items in shops in the two border towns. Prices marked in euro were then converted into pounds based on a rate (€1 equals £0.836956) taken from the Universal Currency Convertor at 10.30am on November 28. Of just 20 products selected, shoppers from the Republic stood to benefit from savings of between 8% and 30% by crossing the border.

Indeed, our findings showed the basket of goods was a significant £139.29 more expensive in the Republic, with the final bill totalling £703.99 in contrast to the Northern Ireland equivalent of £564.70.

Industry experts have been reporting an exodus of shoppers from the Republic for some years now, with more and more people willing to travel further to get value for money.

In the last few months alone, sterling has fallen 25% against the euro, which means that everything in UK shops is now a quarter cheaper for euro shoppers than the equivalent in southern shops.

If anything, today’s reduction in VAT to 15% (compared to 23.5% in the Republic) means the north-south price differential will only increase — as will the volume of traffic heading our way.