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.
Unemployment shot from 4.9% prior to Covid-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 Failte Ireland, Dr Cahill has estimated that the Mid-West had losses of up to €174 million for the second quarter
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