Atlantic counties most impacted by COVID-19

Counties along the Atlantic Economic Corridor are feeling the impact of the COVID-19 pandemic more keenly than in other regions, a survey of Chambers Ireland has found.

New research published today on the sectoral and regional impact of the pandemic shows tourism is the most affected sector, with over half of businesses predicting that their 2020 revenue will be about a third, or less, of what they had been expecting going into the year.

The business organisation said the hospitality sector is impacted by the double effect of reduced consumption within the economy as a result of the Covid-19 restrictions and the challenge of operating their businesses within the context of physical distancing, upon the reopening of the economy.

It comes as the Revenue announced additional measures to support both SME businesses and larger businesses experiencing cash flow and trading difficulties. They are suspending interest on late payments for Employers liability and VAT liabilities.

Chambers Ireland Chief Executive Ian Talbot said: “When we went to the polls in early February, it was not possible to foresee the economic difficulties we would face only a few months later. The research we are launching today highlights the challenge the next Government faces, not only in reopening the economy but in supporting the recovery of sectors and regions that have been disproportionately affected by the outbreak of this virus."