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Staycation as against international travel July 30, 2020

Posted by WorldbyStorm in Uncategorized.
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Not unuseful analysis provided by KBC Bank of Ireland in the following:

If the usual spend on holidays abroad by Irish people is matched here, it could make up for the loss of income from the fall off in foreign visitors.

Citing the latest national income and expenditure data for 2019, consumer spending outside of the state amounted to about 6% of overall personal consumption and nearly 2% of Irish GDP.

“This is slightly greater than the 1.4% of GDP spent by foreign visitors to Ireland,” KBC economist Shawn Britton pointed out.

It would be good to think it was possible for one to make up the other. How does it work in practice though? Of course above and beyond all that is the reality this is a pandemic and that will change matters.

One intriguing figure that I’d love to see parsed out.

Nearly one in five consumers said they did not see coronavirus changing their holiday plans.

I often wonder about how many people in this society have no holiday whatsoever whether on the island or off it.

Comments»

1. Jim Monaghan - July 30, 2020

I see little evidence of price reductions. I am all for staying at home, but a week in Ireland still costs too much. Oh I am not going away this year. There was mention of a house in Kerry, 21,000€ for a week, Irish Times.

Liked by 2 people

2. alanmyler - July 30, 2020

You often do a “Holiday Reading” post this time of year. Will there be one for 2020 or has the covid seen to that also?

Liked by 1 person

WorldbyStorm - July 30, 2020

That’s a great idea! One will appear tomorrow!

Liked by 1 person


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