Bars and Hotels Vulnerable to “No Deal” Brexit

money
Waterford’s drinks and hospitality businesses are highly vulnerable to a hard or ‘no deal’ Brexit following a new report by the Drinks Industry Group of Ireland (DIGI), the umbrella group for drinks and hospitality businesses in Ireland.The ‘National and Regional Employment in the Drinks and Hospitality Sectors’ report shows that the sector accounts for 6.1 per cent of all employment in the county – working out at 2,761 jobs altogether. This is below the national average of 7.6 per cent but Waterford’s reliance can be gleaned through figures for employment in the ‘accommodation and food service’ sector, which includes drinks and tourism businesses.

The average for that sector is 5.8 per cent, which Waterford and eight other counties exceed. What links the nine are that they are all part of this decade’s Government tourism brands, Ireland’s Ancient East and the Wild Atlantic Way.Rosemary Garth, Irish Distillers’ Communications and Corporate Affairs Director and Chair of DIGI, said the report demonstrates the importance of the drinks industry to the local economy: “In many parts of Waterford, drinks, hospitality and tourism businesses are the primary and sometimes only employers. This makes these areas highly vulnerable to economic shocks, like Brexit.“If a hard or no deal Brexit occurs and sterling devalues further, British tourists will look to save their money rather than spend it. That means fewer holidays and a smaller budget when they travel.”

For full story see The Munster Express newspaper or
subscribe to our Electronic edition.

Leave a Comment