AIB Releases New 'Hospitality And Tourism Outlook' Report
AIB has published its "Hospitality and Tourism Outlook" for 2019, which gives a holistic view of the industry using card spending data on national and regional levels across the subsectors of accommodation, restaurants, pubs and attractions.
Head of hospitality and tourism at AIB David McCarthy commented, "AIB, as the largest lender to the hospitality sector in Ireland, is backing the industry by providing key insights across drinking, accommodation, eating, and attractions sectors. We have attempted to take a holistic view to hospitality in Ireland, and have taken both a regional and seasonal view of each subsector in order to assist informing the industry.
"Last year was an unprecedented year for the industry which saw the highest levels of international visitors and spend on record, and AIB are proud to have played a part in contributing towards that and will continue to support the industry into the future. We urge businesses to take social, environmental and economic responsibility seriously, which will create a more sustainable national hospitality sector."
AIB stated that, overall, it is estimated that consumer spending in Irish hotels was €4.5 billion in 2018, with domestic spend making up 46% of the figure, while UK spend made up 24%, North American spend made up 18%, European spend made up 7% and the rest of the world made up the remainder.
According to AIB, consumers spent an estimated €1.98 billion on dining out in Irish restaurants last year, with spend in Dublin being in the region of €1.08 billion, while Cork restaurants pulled in €196 million and Galway restaurants took in an estimated €115 million.
Domestic spend was found to account for €8 of every €10 spent in Irish restaurants while spend from the UK was found to make up €1 in €10.
Consumer spend in pubs is estimated by AIB to have been in the region of €1.01 billion last year, with domestic spend making up over 80% of that figure, or €4 of every €5, while spend from the UK made up 10% of the figure, North American spend made up 5%, European spend made up 3% and spend from the rest of the world made up the remainder.
Finally, AIB stated that when it comes to visiting Irish tourist attractions, the biggest market share belongs to visitors from North America, who make up 38% of the total number of visitors, while domestic visitors make up 28%, European visitors make up 18%, UK visitors make up 9% and visitors from the rest of the world make up the remainder.
© 2019 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.