Covid-19 could cost tourism €3.5 billion

8 April to June quarter could fall by €1.286 billion estimates ITIC

The Irish Tourism Industry Confederation has estimated that Covid-19 will cost Irish tourism as much as €3.52 billion this year.

According to the ITIC, “Assuming Q1 has a -60% impact (March wiped out and no Saint Patrick’s Festival), Q2 sees a -85% impact (when little international business of any serious note happens) and then slow recovery occurs in Q3 (-70%) and Q4 (-50%), the overseas earnings element of the tourism economy for 2020 could amount to as little as €1.58 billion, a Covid-19 cost to Irish tourism of €3.52 billion”.

This means that the January to March period value could fall to €305 million from €763 million while the April to June period could see just €227 million in value compared with 2019’s €1.513 billion in 2019.

The July to September quarter could be down by just under €1.3 billion to €547 million from €1.824 billion and the October to December quarter could see values fall from just over €1 billion last year to €500 million this year.

The July to September quarter could be down by just under €1.3 billion to €547 million from €1.824 billion and the October to December quarter could see values fall from just over €1 billion last year to €500 million this year.

If the fares paid to Irish air and sea carriers by international visitors are included, then the total cost of Covid-19 amounts to over €5 billion, states ITIC’s estimate.

“The domestic market is likely to recover faster than overseas markets but it is the latter that is the main contributor to Ireland’s tourism industry,”

DRINKS INDUSTRY IRELAND | August 2020

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