Industry revenue of »travel agency, tour operator, reservation service« in Ireland 2011-2023
For years, tourism has been Ireland’s largest indigenous industry and a major source of employment. To give this some perspective, it is nearly twice the size of the country’s agricultural industry and significantly larger as compared to sectors such as construction and IT. Some of the factors that have fuelled the growth of the market include a favorable political climate and the growing number of tourist attractions. As of 2018, the country recorded over 5.2 million international tourist arrivals.
With the growth in tourism, various associated industries such as Hotels, and Travel & Tour agencies have been benefited, with revenues of the latter growing from 1.3 billion U.S. dollars in 2011 to 4.2 billion U.S. dollars in 2019, owing to the emergence of new companies offering favorably-priced holiday packages as well their growing partnerships with various hotel chains. Initial projections for the medium term also demonstrated a 14 percent growth for the industry. However, the outbreak of the corona virus pandemic has caused massive disruptions within the hospitality sector, and the projected growth looks rather optimistic at this point in time. As a nationwide lockdown has been announced, not only have all flights been grounded, but major hotel chains have been shut as well for an indefinite period of time. Experts fear that many of the companies might never be able to recover from this setback.
With the growth in tourism, various associated industries such as Hotels, and Travel & Tour agencies have been benefited, with revenues of the latter growing from 1.3 billion U.S. dollars in 2011 to 4.2 billion U.S. dollars in 2019, owing to the emergence of new companies offering favorably-priced holiday packages as well their growing partnerships with various hotel chains. Initial projections for the medium term also demonstrated a 14 percent growth for the industry. However, the outbreak of the corona virus pandemic has caused massive disruptions within the hospitality sector, and the projected growth looks rather optimistic at this point in time. As a nationwide lockdown has been announced, not only have all flights been grounded, but major hotel chains have been shut as well for an indefinite period of time. Experts fear that many of the companies might never be able to recover from this setback.
