I am a firm believer that if you keep thinking and saying that you have a headache, you’ll end up with a headache. The same applies to negative sentiment. If you keep talking down the economy and keep saying we are plummeting into recession, chances are we will become recessionary. There is no doubt the first few months of 2022 brought a myriad of challenges. From the conflict in Ukraine, staff shortages, food inflation and rising monetary inflation, business is challenging. However, it is critical that consumer sentiment and confidence is kept positive.
Unfortunately, our mainstream media seem hell-bent on creating a perception of a country on its knees. RTE, our national broadcaster, is leading the charge alongside the red top newspapers. New bulletins are prefaced with headlines telling us “THE INFLATION RATE IS THE WORST IN 30 YEARS”, or “ENERGY PRICES TO INCREASE TO A NEW HIGH”, or “CHAOS AS DUBLIN AIRPORT IMPACTING ON TOURISM”, or “WORSE NEWS TO COME FOR THE ECONOMY”. And on and on it goes.
The continual use of the word “Recession” is thrown around in the hope that it sticks. In truth, our economy is in a far better state than it was two years ago. The IMF, for instance, has indicated a growth in the region of 7% +.The important word here is growth.
A recent article in the Irish Times gave an honest and accurate appraisal as to how tourism is performing. It surveyed a number of key markets – Germany, USA, France and our neighbours in the UK – and found that all these markets are happy with what’s on offer in Ireland, which encompassed consumer satisfaction with food, hotels, airports and visitor experience. Recent Failte Ireland visitor attitude surveys bear this out. The common response is that Ireland delivers in value for money and quality of experience.
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Read the full June / July 2022 Magazine Publication.