This year, Brexit to cost €100m to tourism

Published on : Friday, June 30, 2017

Brexit to cost €100m to tourismThe tourism chiefs warned on Thursday that this year, hospitality businesses underwent major loss of about €100 million due to the fallout from Brexit hits British holidaymakers’ spending power. As per the official figures, the total number of British visitors coming to the Republic slump to 7 percent in the first five months of this year as a consequence of the weakened sterling took hold.

 
Eoghan O’Mara Walsh, chief executive of the Irish Tourist Industry Confederation observed that the Central Statistics Office has estimated that those who are coming are spending 20 percent less.

 
To quote him, ‘if you expand that out to 12 months, it’s likely to be €100 million less,” as he said to a British Irish Chamber of Commerce seminar on Brexit and culture, arts, tourism and sport.

 
He also said, ‘there has been a lot of talk about the uncertainty created by Brexit, one thing that you can be certain about is that Brexit is having an impact on tourism already.’
Peter Collins, honorary treasurer of the Irish Hotels’ Federation, recognized that that Dublin is doing fairly well, but pointed out that the revival is only the onset to take hold elsewhere in the Republic.

 
He said that an effectual 20 percent swing in the euro-sterling exchange rate ever since 2016 intended that British tourists’ spending power had suffered immensely.

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