Dublin's retail spending grows despite continuing rise in cost of living

Dublin's retail spending rose by 1.6% from Q1 to Q2 this year despite the cost of living crisis.

Research conducted on behalf of the four Dublin local authorities by MasterCard SpendingPulse shows that retail spending in the capital grew for the fifth consecutive quarter. Growth in the Entertainment Sector skyrocketed 9.2% quarter on quarter, aided by the lifting of Covid-19 restrictions and the beginning of the summer tourism season.

Discretionary sales also grew QoQ, up 3%, which "highlights Dublin consumers’ ongoing willingness and ability to spend their disposable incomes in the face of increasing prices." However, the research warned that increasing inflationary pressures are "likely to be a major headwind for consumer spending in the coming quarters".

Read more: Recession Ireland: Business woman and RTE host warns we must be ready for recession

Dublin's tourism market underperformed massively compared to the national average in Q2. Tourism spending nationally recovered 25% QoQ and 294% YoY, but grew just 8% QoQ and 72% YoY in the capital.

Read next:

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