Tourism groups are appealing to the government to stave off a growing crisis in the sector, before it’s too late.
A new report out today – commissioned by a number of industry representative groups – shows VAT at 13.5% and Government-imposed cost increases have seriously damaged the commercial structure of the sector.
The report’s author, economist Professor Anthony Foley says hospitality food services are facing into a bleak future, with average food margins now at 1.9%:
