Last orders! New report shows 66 pubs have closed in Waterford over past 20 years

A new report has shown that 66 pubs have closed down across County Waterford over the last twenty years.

According to Drinks Industry Group of Ireland (DIGI) an average of 114 pubs have closed across the country each year since 2005. The average for the past five years (2019 to 2023) was 144.

The report found there has been a decline of 25.4% in the number of pubs in Waterford with 66 establishments closing their doors since 2005.

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A recent survey of almost 600 pubs and restaurants, conducted as part of DIGI's report found that almost one in four had seen their business costs increase by 20-30% in the last two years. An additional 15% found that their business costs had increased by over 40% in the last two years. 

Additionally the survey found that if government support such as a cut in the excise rate was provided, it would allow the industry to sustain and grow.

This cut would also allow 23% of business owners to refurbish their business and 18% said they would hire more staff and 13% said they would invest in new offerings or services such as food or accommodation.

These figures, DIGI claims, demonstrate the untapped potential of the industry. 

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Chairperson of DIGI, Kathryn D'Arcy commented: "The decline of over 2,000 pubs since 2005 reflects the real change and challenges this sector is dealing with. Pubs, restaurants, and hotels employ over 207,000 people which is 8.3% of all employees in the country."

She continued.  "These people and the businesses they work for are part of the economic and social fabric of their communities. Running such businesses in a climate where the cost of doing business is squeezing more and more is difficult. DIGI’s research shows that when government responds, particularly on heavy cost items like taxation, the sector responds."