A recent report carried out by Goodbody Stockbrokers has discovered a rise in cross-border shopping.

The report released by Goodbody Stockbrokers, showed that a weakened Sterling, produced by Brexit, has resulted in increased cross-border shopping.

The Irish Times accounts that the study of traffic flow across the border provides the “first tangible evidence” of the impact of Brexit on Ireland. The notable increase in traffic is in correspondence with Sterling fall, starting with the vote to leave the EU, back in June.

According to the report, up until June 22nd, traffic volume on the border grew by 6%, but the day after the vote to leave to present, traffic on the border has risen by 9% compared to the same time last year.

The findings also show a 29% increase in northbound traffic across the border on Saturday mornings, with an increase of traffic going south at 6pm on a Sunday. The findings suggest day and overnight shopping trips to Belfast.

The report stated, “the fall in the value of sterling is likely to be playing a prominent role in increasing the flow of both tourists and shoppers to Northern Ireland”.

“The benefits to Northern Ireland may be the Republic’s loss”, the report stated, however, while consumer spending impact would be fairly low in the Republic, this change in pattern may have a strong impact on business along the border.