Tourism businesses in Ireland warn of potential harm to competitiveness due to a rise in national minimum wage leading to increased labor costs.
Tourism businesses in Ireland warn that the rise in the national minimum wage could harm the country's competitiveness as a holiday destination. A report commissioned by Fáilte Ireland reveals that labor costs for tourism and hospitality businesses could increase by over 10% this year and up to 31% annually in the long term due to the changes. Business owners are considering ways to cover these costs, such as increasing prices, reducing worker hours, employing fewer staff, or lowering their operating margins.
March 29, 2024
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