Issue 253 (Week ending 15/06/2015)

Between January and May this year, 495 companies have begun operating in the hospitality sector in Ireland - these include hotels, bars, restaurants etc - a 9% increase on the same period in 2014 (453).

This year's start-up figure represents the best seen in Ireland for that sector.

While reviewing past trends our figures reveal that unlike other sectors hit by the economic downturn, the number of hospitality start-ups rose during this period.

An average of 326 were formed in the same five-month period in the years 2000-2006, this rises to an average of 399 in the years 2007-2013. In the last two years, this has increased further to an average of 474.

A number of factors have played a part in this increase. These include the strong emphasis placed on attracting an increased number of tourists into Ireland with like The Gathering as well as the recovering global economy particularly in the UK and US.