2023 Reports

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Year End Review 2023 & Outlook 2024

27 December 2023

ITIC’s 2023 Review and 2024 Outlook shows that Irish tourism remains robust despite domestic cost challenges and international geopolitical events. It is estimated that €5.3 billion will have been spent by international visitors while visiting Ireland in 2023 with 254,000 people working in the sector making it the country’s largest indigenous industry and biggest regional employer.

Looking ahead, ITIC forecast that Irish tourism can achieve 5% revenue growth in real terms in 2024 with the North American market offering the best prospects.

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VISION 2030: An Irish Tourism Strategy for Growth

18 September 2023

Ireland’s tourism industry can be ambitious about its future whilst delivering on its environmental sustainability obligations. That is the vision outlined in this strategy by the Irish Tourism Industry Confederation (ITIC) – by 2030 the industry can be worth €15 billion to the national economy, can employ up to 350,000 people across the country, and will be delivering €3.5 billion tax receipts to the exchequer each year.

This key report recommends 38 actions to maximize potential outcomes.

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11,500 hotel bedrooms needed by 2032 to meet projected tourism demand

17 August 2023

A key report by the Irish Tourism Industry Confederation estimates that there is a deficit of 11,500 tourism bedrooms in the State if Ireland is to meet projected demand over the next decade.

The report, carried out by economist Jim Power, identifies that the price of sites, allied to construction inflation, make new builds cost-prohibitive apart from selected urban hotspots and Government will have to intervene with a range of policy measures to stimulate developments.

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ITIC analysis of CSO’s first Tourism Satellite Account

25 July 2023

The CSO has just released its first Tourism Satellite Account, an internationally recognised framework for measuring tourist activity. It makes for interesting reading and underlines tourism’s importance to the national economy. Using 2019 data – the last year of full data pre-pandemic – the TSA estimated that tourist activity accounts for 4.4% of the economy and employs 13% of the national workforce.

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Tourism’s Budget 2024 Submission

13 July 2023

ITIC launches its pre-budget submission and makes the clear case that restoring competitiveness and maintaining investment is vital to enable Ireland’s tourism industry overcome challenges and achieve sustainable growth. ITIC argues that 5 key budget decisions should be taken to support the 20,000 businesses within Ireland’s tourism and hospitality industry.

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The Competitiveness of Irish Tourism – Review & Outlook

23 June 2023

Irish tourism is at a key juncture with demand strong but supply significantly compromised and sustainability at the heart of all considerations. In that context this timely report from the Irish Tourism Industry Confederation (ITIC) looks at the competitiveness of the sector and how worrying signs of erosion need to be addressed.

Competitiveness is critical to the continued recovery and sustained growth of the sector and this important report from ITIC outlines 10 strategic recommendations as to how Irish tourism’s competitiveness can be improved.

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Increase in 9% VAT rate would damage jobs and add to inflation

11 January 2023

This report by Economist Jim Power, commissioned by the Irish Tourism Industry Confederation, finds that the scheduled VAT increase from 9% to 13.5% on February 28th will damage the industry at such an uncertain time. The VAT increase could cost up to 24,000 jobs and add 4.1% inflation to the cost of accommodation and food services.

The report concludes that VAT should be kept at 9% to protect the competitiveness of a vulnerable industry particularly when key source markets are going through economic turbulence.

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Irish Tourism: Recovery & Outlook

10 January 2023

What does 2023 hold for Irish tourism in these most volatile of times? And how strong was the recovery in 2022?

The Irish Tourism Industry Confederation (ITIC) has done a deep dive into the state of Irish tourism including economic analysis of our key source markets, a review of air and sea access to Ireland, and key challenges that will need to be overcome to ensure sustained recovery is secured.

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