How well is Brexit Turning out for the Booming Tourism Industry in Ireland?

These are the times when optimism seems the only way out for the tourism industry. By 2016 end, nearly 9 Mn tourists are estimated to have visited Ireland throughout the year. The figures are astonishingly high as compared to half a decade back.  Most of the countries revenue source markets are witnessing a steady growth with scoring double-digit figures of growth rates.  The arriving tourists are quite content and the value of Irish currency climbed up over a couple of years.

Jobs in the tourism industry has increased considerably owing to the encouraging Government’s policies to control VAT rate down to 9 percent.  The country’s several remote communities have registered a growth in tourist influx in recent times.  Government initiative such as the Wild Atlantic way has significantly boosted the Irish tourism industry.

The figures are overwhelming and point out at the positive factors suggesting the growth. Factors such as favourable exchange rates, satisfactory industry capacity to sustain growth, friendly trading environment and growing air access are characterizing the rapid surge of the industry both in terms of value and revenue.

2016 has proven to be an unpredictable year for various industrial sectors in Ireland including the tourism industry. The future prospect and further market opportunities of the industry will be more or less shaped by the emerging topics of the overall canvas of the market.

Brexit being one of the head-turning events, it is known fact that the Irish tourism is heavily dependent on the Britain market. One in every two tourists in the country came from Britain before the economic downturn. However, in the following the reliance has reduced to a ratio of two in five visitors but visitors from Britain continue to dominate the visitor graph.  Within the Britain tourism market, Ireland falls under an obvious holiday destination, which is perceived as an extension of domestic holiday venues putting it in a similar category with Scotland.

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