General Industry News

Irish Economy set to generate 167,000 jobs over the next two years

The Irish Times – 26.01.2022

Up to 167,000 jobs could be created in the Irish economy over the next two years as it shrugs off the effects of the pandemic and consumer spending returns to more normal levels, the Central Bank has said. In its latest quarterly bulletin, the regulator, however, warned that higher levels of inflation linked to surging energy prices would persist in the short term, resulting in what it described as “generalised cost of living increases”. The economy is expected to grow by 8.7 per cent this year and by 5 per cent next year on back of strong domestic demand supported by income growth, the use of savings built up during the pandemic and strong exports.

Long Haul air travel to rebound strongly this year, says Avolon

The Irish Times – 18.01.2022

Long-haul air travel could recover strongly this year, hitting 70 per cent of pre-Covid levels, Irish aircraft lessor Avolon predicts. Domestic or short-haul travel recovered to within 12 per cent of 2019’s totals last year as vaccination programmes took hold, aided by initiatives including the EU’s Covid certificates. Avolon says in its 2022 outlook that international, or long-haul travel, which lagged pre-pandemic levels by 60 per cent last year, could begin its recovery in earnest in coming months.