UK tourist spending drops in Republic as pound slips
UK tourists have reduced their spending in the Republic, as increased political uncertainty and a weakening in the value of the pound takes its toll.
With a hard Brexit looking more likely, UK tourists spent around 5.6% less over the border in the three months to June 30, compared to the same period last year. Meanwhile, their expenditure was down 2.6% year-on-year in Dublin, according to the latest Dublin Economic Monitor (DEM).
This comes on the back of figures from the Central Statistics Office in Dublin, which showed a modest increase in the number of visitors from Britain to the Republic in the first six months of this year.
There was also a reduction in spending from German visitors in Dublin during the three month period.
Steven O'Gara, economic development officer with Dublin City Council and programme manager of the DEM, said: "The Dublin economy has continued to perform really well in spite of the looming shadow of Brexit, with strong job creation and positive economic indicators.
"However, the continuing erosion of our competitiveness as a destination to UK visitors is of serious concern."
He added that the tourism sector is a huge part of the city's economic mix and "has fantastic potential for growth into the future".
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Despite the fall in spending by UK and German visitors, tourism retail spending in Dublin is up 8.7% from the same time last year.
This is being driven by visitor spending from the United States and China, which continues to grow significantly, increasing 12.8% and 10% on 2018 figures respectively.
Having said that, the ongoing escalation of trade disputes between the two economies could potentially have an impact on tourist performance in the coming quarters, according to the DEM.