Ireland’s economy continues to outperform with the latest national accounts indicating GDP growth of 7% in the year to September. This momentum persisted in Q4 with monthly indicators such as employment, income tax receipts, VAT returns and retail sales all strongly positive. Consequently, Ireland is on track to have been the fastest growing EU economy in 2015. Looking ahead, the economic outlook remains very positive. Ireland’s key trading partners - America and the UK - are performing solidly and there are signs that growth is also picking up in the larger EU economies. At the same time, the extension of the ECB’s quantitative easing programme should ensure that interest rates remain low and that the Euro remains at a competitive level well into 2017. Combined with lower oil prices and modest tax cuts at home, this will underpin both international and domestic demand for hotel services.
Source : Savills