Card data suggests it’s not all doom and gloom in the hospitality sector

Card spending in restaurants and pubs is running around 16 per cent ahead of this time last year, according to data from the Central Bank. Photograph: iStock

Yet, a report from the Restaurants Association of Ireland, published last month, estimated that two restaurants or other food-led businesses are closing each day, with about 70 shutting in February. Its monthly card payment report says that spending on restaurants and dining was up 12 per cent last month. Breaking that down, spending on food was up 10.6 per cent, with spending on drink increasing by 17 per cent, while hotels saw a rise of close to 9 per cent.Looking at the more relevant year-on-year comparison, restaurants, where card spending would be the norm, have seen a 17 per cent rise in spending on credit and debit cards since March of last year.

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