Mid-West tourism could lose €500m – The Clare Herald

An economic overview of the Mid-West by Limerick Chamber has found tourism in the region could lose up to €500m, while unemployment is still running at almost three times pre COVID-19 levels.

Limerick Chamber’s ‘Mid-West Economic Insights’, compiled by its Chief Economist Dr Catríona Cahill, has looked at various economic indicators from 2019 and across the first six months of 2020. The report paints a stark assessment of the challenges facing the region and highlights the most fragile elements of the local economy.

Headline findings include that unemployment shot from 4.9% prior to COVD-19 to 32% during lockdown, with latest figures showing it has reduced to approximately 14.5%.

The report warns of the need for the region to brace itself for the impact of significant visitor and tourism related revenue decline.  Using regional data from Fáilte Ireland, Limerick Chamber has estimated that the Mid-West had losses of up to

Continue reading this atricle at http://clareherald.com/2020/09/chambers-covid-economic-review-of-mid-west-76199/