General Industry News

Tourism Ireland reveals details of new marketing strategy for 2020-2022

www.hospitalityireland.com – 03.12.2019

Tourism Ireland has revealed details of a new marketing strategy for 2020-2022. The organisation is aiming to grow overseas tourism revenue and visitor numbers by 13% to €6.54 billion and by 7% to 12 million, respectively, by 2022. According to Tourism Ireland, latest estimates indicate that, by year end, revenue generated by international visitors in 2019 will be approximately €5.78 billion, which is 1.4% less than the figure for last year, with 11.17 million people having visited the island of Ireland.

Irish services sector rebounds in November, AIB index finds

www.irishtimes.com – 03.12.2019

The Irish services sector posted a strong rebound in November having almost fallen into contraction the previous month, according to a survey commissioned by AIB. The AIB Services Purchasing Managers Index (PMI) rose to 53.7 last month from October’s more than seven-year low of 50.6. Anything above 50 indicates that the sector is expanding. AIB chief economist Oliver Mangan indicated that the November rebound suggested that the October fall “was an aberration and that the Irish services sector is continuing to perform strongly”.

Strong Corporation Tax take leads to Exchequer surplus of €1.45 billion

www.rte.ie  – 03.12.2019

The Government will run a higher surplus in the public finances than forecast at budget time, based on higher levels of Corporation Tax. Minister for Finance Paschal Donohoe said this was part of preparations for what he called the "clear and present danger" that current high levels of Corporation Tax will not last. Exchequer returns published show a surplus of almost €1.45 billion in the first eleven months of the year - with the State taking in 2.7% more than was anticipated at the start of the year. Almost all of that - €1.41 billion - is accounted for by a stronger-than-expected take of Corporation Tax.