Irish restaurants and pubs could lose up to €70 million in trade over the St. Patrick's weekend due to the cancellation of celebrations across the country.
Potential Restaurants Impact
The Restaurants Association of Ireland (RAI) said that its members usually earn approximately €120 million from St. Patrick's celebrations, but bookings have declined by 40% this year, and 80% of corporate bookings have been cancelled.
The Irish Independent quotes RAI CEO Adrian Cummins as saying that restaurants' St. Patrick's turnover could drop by €40 million, considering the number of cancellations that are occurring.
Cummins added, "The cancellations extend mainly into April. While May is an unknown quantity right now, it looks like it's starting to be a write-off." He also said that, consequently, many restaurants face "closures and job losses".
Possible Pubs Fallout
Meanwhile, the Vintners' Federation of Ireland said that Irish pubs' turnover during the St. Patrick's period, which is usually approximately €100 million, could decline by up to 30%, or €30 million.
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