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Published on : Tuesday, June 2, 2015
Tourism businesses sentiment is at an all-time high according to overall figures contained in Fáilte Ireland’s Barometer with more than three quarters of businesses (77%) expecting growth for the coming year – hotels were particularly bullish with eight in ten expecting increased business in 2015.
Business sentiment in the tourism sector for 2015 is now a mirror image of the negative outlook felt back in 2008 as the recession began to take effect. The Barometer is a survey of tourism businesses which seeks to gauge tourism performance for the year to date and prospects for the year ahead. Today’s survey was carried out during April 2015 with 680 accommodation providers, restaurants and tourism attractions.
The majority of paid serviced accommodation providers[i] (60%) are reporting business is up this year to date compared to the same period in 2014, with rising to two thirds (66%) amongst hoteliers. This was one of the key findings in the latest Fáilte Ireland Tourism Barometer of the tourism sector published today.
Prospects for the year ahead (Business Sentiment) – See graph HERE Both domestic and overseas markets are expected to generate growth in the coming season according to 67% and 69% of paid serviced accommodation providers. For the majority of such businesses, Britain (68%) and North America (67%) in particular, are expected to deliver growth. The optimism for the latter two markets seems to be driven by the anticipation that exchange rates will remain favourable (mentioned by 75% of businesses).
Other factors influencing an optimistic outlook for the year ahead include the impact of repeat visitors (indicated by 72% of respondents), businesses’ own marketing efforts (54%) and a strengthening domestic economy (53%) which are also expected to help bolster performance for the majority of businesses. Speaking today, Fáilte Ireland CEO Shaun Quinn emphasised: “The tourism sector is going from strength to strength and currently has a fair wind at its back.
Thanks to its own hard sacrifices and Government initiatives, such as a lower rate of VAT for the sector, tourism operators are providing top quality at great value. With global travel trends on the rise, some favourable currency exchange rates and significant new Fáilte Ireland initiatives, such as the Wild Atlantic Way and Ireland’s Ancient East, tourism has a spring in its step again. That’s good for the economy and for jobs – particularly in those many rural regions where tourism is one of the main economic drivers.”