Many businesses in the tourism and hospitality sector are now “teetering on the brink” of collapse due to the coronavirus pandemic, officials from Fáilte Ireland told an Oireachtas committee. The tourism official warned the sector faced a sharp increase in the number of businesses closing from the start of next year. Those travel restrictions, coupled with the start of the year being a traditionally quiet period for the tourism sector, is likely to heap further pressure on businesses. “That is always the worst time of the year anyway until the season gets going after St Patrick’s Day,” Mr Kelly said. In some cases banks had been “supportive and flexible” with businesses in the tourism industry, Mr Kelly said.

Source: The Irish Times December 02, 2020 22:06 UTC