‘Fifty per cent’ of Irish adults will have to pay for airfare by 2025

Fifty per cent of Irish adult residents are likely to have to spend more than €500 per year on airfare in the coming decade to maintain their status as a wealthy and powerful minority, a new study shows.

The report from Irish travel consultancy TripAdvisor said that in 2025, almost half of Irish residents will have more than their monthly income to spend on airfares.

It was commissioned by Irish Air Transport Association (IATA), the largest air travel association in the country, to explore how much Irish residents are willing to spend.

“The research shows that Irish households are likely only to spend about €1,400 per month on air fares by 2025, as a proportion of their annual disposable income,” said TripAdvisory’s chief executive, Stephen McElroy.

“That means that over 50 per cent (of Irish households) will have been unable to keep up with inflation for the foreseeable future, and will have a burden to pay,” he said.

TripAdvisor is a travel booking and travel assessment firm that provides an online booking engine that helps customers find and book flights online, by smartphone or by text.

The company’s annual report on travel costs, published this week, found that a typical family of four will have an annual disposable incomes of €42,800, and an average cost of €5,000 per year.

This is the average household disposable income across all of Ireland, it found.

The median household disposable incomes across all regions in the UK were €54,300, and Ireland’s average was €50,400.

Travellers from Britain and the United States are the most likely to spend a significant amount on air travel, with the median household income in Britain in 2025 rising from €33,500 to €55,000.

Towards the end of the decade, however, British and American travellers are likely already living at the extremes of the housing market and are unlikely to have enough money to maintain the level of spending that they have.TRAVEL INFRASTRUCTURE”The data clearly shows that the Irish housing market is in a deep freeze, as house prices have continued to fall across the country,” Mr McElry said.

“This is not only a problem for the middle class, but also for families who have to keep paying rent to a landlord who is paying below the national minimum wage, or for many who are in the lowest paid jobs.”

It’s a serious financial issue, and is only going to get worse as more people move out of Ireland.

“Tripadvisor said the number of people who were already in debt in Ireland had grown dramatically since 2011.”

Over the past decade, a further 25 per cent have been in the top 5 per cent or higher income bracket, while a further 24 per cent were in the bottom 5 per,000,” Mr MacElroy said.

There was a “massive reduction in the number and share of people living in debt” between 2007 and 2015, he added.

In addition to the housing issue, Mr McElvoy said the Irish economy is currently in a severe recession.”

While Ireland has seen a recovery in GDP growth over the past year, we are now facing the potential of a major recession in the years ahead,” he added, saying the economy is facing “a recession”.”

It is likely that the country’s recession will be more severe than the recession experienced in Ireland in the past three years, which has seen the average monthly pay for full-time workers fall by almost €10,000 in the same period.

“Mr McElrow said that while the Irish public were concerned about the future, the “realisation that the economy will be weaker than before” is “the first step” to avoiding a repeat of the 2008 financial crisis.”

We know that many Irish households have already seen their incomes fall since the end in March 2015,” he concluded.

Irish Independent