Border Hotels 'Booming' As Sterling Strengthens Against Euro
Published on Jan 26 2015 11:55 AM in Hotel
Hotels and business on Ireland's border counties are already seeing the benefits of quantitative easing, as business is 'booming' thanks to favourable currency exchange rates.
The value of the euro has fallen significantly against the sterling pound due to the European Central Bank's decision to inject billions into the eurozone. As a result of this border businesses in the Republic have seen thousands of extra visitors from the North reaping the benefits of the currency gap.
The Irish Independent reports that hoteliers have already had increased bookings and the need for extra staff thanks to the extra business in counties such as Donegal and Louth.
Although the rise of the sterling is good news for workers and travelers coming from the North, it does not bode well for those coming form the Republic traveling to the North, as the euro currently only buys 0.75 pound.