Economic impacts on the RoI following the Brexit referendum… March 31, 2017Posted by WorldbyStorm in Uncategorized.
The Irish Tourist Industry Confederation (ITIC), citing data from the Central Statistics Office published on Wednesday, says the impact of Brexit is already damaging Irish tourism.
“The three-month trend from Britain [in visitor numbers to Ireland] shows a decline of 6 per cent but, looking at February alone, there is a very worrying decline of 22 per cent,” said ITIC chairman Paul Gallagher.
If that trend continued over the whole year, he said, it would cost up to 120,000 jobs in the economy. Britain accounts for two out of every five international visitors to Ireland.
That’s a pretty significant decline. Now, I suppose some might argue what if anything has this to do with Brexit, or rather the events following the referendum. But, that involuntary devaluation of sterling is likely the culprit, and that is a direct result of the referendum.