Ireland faces ‘loss of €70m’ over drop in UK visitors
The fall in UK tourists visiting the Republic this year could cost the economy almost €70m (£64m), a drinks industry report has warned.
The number of people from the UK visiting the Republic plummeted by more than 6% in the first half of the year, with the weakening in sterling blamed.
That trend is likely to continue for the rest of this year and the years ahead, according to the study commissioned by the Drinks Industry Group of Ireland (DIGI).
“British tourists spent €1.1bn (£1bn) in Ireland in 2016, but a 6.2% drop in their numbers would result in a loss of nearly €70m (£64m) this year if the trend continues,” the new report said.
“This decline is likely to continue for the rest of the year and the years ahead, affecting jobs and income, particularly in rural Ireland.”
The report noted that UK tourists account for 41% of all visitors to the Republic.
Meanwhile, Deutsche Bank chief executive John Cryan has said Frankfurt is now battling New York and Singapore for UK banking jobs in the run-up to Brexit, having already emerged as a clear winner among its European peers.
Belfast Telegraph Digital