GENERAL INDUSTRY NEWS

Irish holidaymakers set to be main tourism revenue source this year

The Irish Times – 01.02.2021
Tourism businesses have been advised to plan on the basis that Irish holidaymakers will be their main source of revenue this year as the Covid-19 pandemic continues. Paul Kelly, the Chief Executive of Fáilte Ireland, made the remarks as both he and Minister for Tourism Catherine Martin said the Government plans to safely reopen international travel as early as possible, but could not say when this will be. One positive note he struck was the rise in household savings here and internationally with an increase of €13 billion reported in Ireland alone for 2020. Mr Kelly said: “Some of these savings will eventually find a way into the hard-pressed bank accounts of tourism businesses.”

Economy set to grow faster than anticipated in 2021

Business Post – 22.01.2021
Davy has upgraded its growth forecast for the economy for this year on the back of buoyant exports and multinational sector output, especially from the pharmaceutical and information and communications technology sectors. The stockbrokers have penciled in GDP growth of 4.8 per cent for this year, an increase from its earlier prediction of 3.8 per cent. It is also predicting growth of 5.5 per cent in 2022.