Industry revenue of restaurants and mobile food service activities in Ireland 2011-2023
Over the last few years, the restaurant and mobile foodservice industry has been growing along with the Irish economy. Industry experts have noted that the current state of the industry is because of the significant growth in overall employment, per capita income, a boom in thetech sector that led to an influx of overseas professionals, and the flourishing tourism industry. As such, industry revenues valued around 5.2 billion U.S. dollars in 2018, a growth of 70% as compared to 2011.
Retention of VAT at 9% helped the industry bottom line
The Irish government has maintained the VAT rate for the foodservice industry at 9%, having reduced it from 13.5% in 2011. According to the Restaurants’ Association of Ireland, this move has had a positive impact on private consumption over the last few years, which has also resulted in strong job creation in the industry. Household consumption expenditure on restaurants and hotels increased by nearly 25% during 2012-2017.
Retention of VAT at 9% helped the industry bottom line
The Irish government has maintained the VAT rate for the foodservice industry at 9%, having reduced it from 13.5% in 2011. According to the Restaurants’ Association of Ireland, this move has had a positive impact on private consumption over the last few years, which has also resulted in strong job creation in the industry. Household consumption expenditure on restaurants and hotels increased by nearly 25% during 2012-2017.
