TNI’s Industry Barometer Survey

Tourism Northern Ireland commissioned a survey in October with Northern Ireland’s tourism industry to monitor 2024 year-to-date (Jan-Sep) business performance, outlook for the remainder of the year and into 2025, as well as causes of concern and reasons to be optimistic.

Generally positive industry performance during January to September 2024 for the closer to home and international markets

Overall, findings indicate a positive business performance over the January-September 2024 period with the majority reporting turnover exceeding (41%) or the same (38%) as 2023 levels.
Room yields have been higher (43%) or similar (40%) to 2023 for the majority of accommodation providers.
A significant proportion of businesses reported growth across the NI domestic, ROI and GB markets, although a minority of just under one-fifth experienced a decline in visitor volumes from these key markets compared to 2023.
Over 8 in 10 businesses have seen international visitor volumes either exceed or match 2023 volumes, with just under one-fifth reporting a decline on the previous year.

Business outlook for 2025 is largely favourable

Expectations regarding visitor volumes for 2025 are largely positive, with the majority of businesses anticipating similar or higher visitor volumes than 2024. Just over one in ten expect visitor volumes to be below this year’s performance levels.

Operating environment remains challenging across all key sectors

Significant levels of concern prevail regarding the continued impact of reduced consumer disposable income, alongside rising energy costs. Other concerns highlighted the impact of increased competition, including more people going abroad.
In response to rising operating costs and consumer cost-of-living pressures, just under one-third of businesses indicated that they had or were raising their prices ‘slightly’ with just under than 1 in 20 reporting ‘significant’ price increases.

Staff recruitment issues continue

Approximately one-fifth of businesses employing staff highlighted ongoing challenges in relation to staff recruitment, particularly across entry and mid-level positions.

Reasons to be optimistic

Despite the concerns expressed regarding the challenges ahead, the majority of businesses remain confident that they will maintain overall business in 2025.
The continued success of repeat visitors, the return of overseas visitors and improved local visitor experiences, were most likely to be highlighted as reasons to be positive for the remainder of the year and into 2025.