Summary The tourism sector in Ireland performed well during 2015. Inbound tourism registered strong growth due to factors including the strong economic performance of key source markets such as Germany and the weaker Euro against the pound and Dollar contributing to increasing arrivals from the US and the UK. Moreover, improved air services to Ireland from the major source markets such as the US along with the branding initiatives of Fáilte Ireland such as Dublin - a Breath of Fresh Air also contributed to the growth.
Key Findings Trips by Irish residents to the UK, the leading destination market, have been following a declining trend. This has been due to the stronger pound compared to the Euro in 2014 and 2015, which make it expensive to visit the UK. However, due to the UK’s exit from the EU (Brexit), the pound has weakened compared to the Euro, declining by 9.7% in 2016 (as on October 8). This has resulted in cheaper trips for Irish residents to the UK, which are estimated to grow by 4.7% in 2016.
The number of hotels and rooms in Ireland has consistently declined since 2010, the effect of which has particularly been noticed in the capital. At the end of 2015, 5,000 rooms were currently in the planning stage, according to leading commercial real estate firm CBRE, but most are outside of Dublin. The shortage of supply in Dublin is likely to remain until 2018 due to the higher cost involved in developing a new hotel, compared to buying an existing hotel.
Synopsis Canadean’s report — Travel and Tourism in Ireland to 2021 — provides detailed information on the country’s tourism sector, analyzing market data and providing insights. This report provides a better understanding of tourism flows, expenditure, and the airline, hotel, car rental, and travel intermediaries industries.
What else does this report offer?
Historic and forecast tourist volumes covering the entire Irish Travel & Tourism sector
Detailed analysis of tourist spending patterns for various categories, such as accommodation, sightseeing entertainment, foodservice, transportation, retail, travel intermediaries, and others
Analysis of trips by purpose and mode of transport, and expenditure across various categories including domestic, inbound, and outbound tourism, with analysis using similar metrics
Analysis of the airline, hotel, car rental, and travel intermediaries industries by customer type – leisure and business travelers
Reasons To Buy Make strategic business decisions using historic and forecast market data related to Ireland’s Travel & Tourism sector.
Understand the demand-side dynamics within the industry to identify key market trends and growth opportunities.
Direct the promotional efforts on most promising markets by identifying the key source and destination countries.