Optimism slowly returning to hospitality sector
A RECENT survey has revealed that 16% of hospitality operators in Northern Ireland are optimistic about the prospects for the hospitality sector as a whole, marking an increase from January 2024 as the hospitality sector recovers from a difficult winter.
Having stood at
22% in October 2023, optimism fell to 13% in January 2024, with Hospitality Ulster members surveyed in April 2024 attesting to a recovery in optimism since. April 2024 also saw the hospitality sector record lower levels of outright pessimism (54%) than October 2023 (57%) or January 2024 (60%). Those who were neither optimistic or pessimistic about the prospects of the sector stood at 30%. These figures compare with Uk-wide figures of 24% optimism, 30% unsure, and 46% pessimism among UK Hospitality members.
Colin Neill, Chief Executive, Hospitality Ulster, said: “It is good news that optimism is slowly returning to the hospitality sector. Having endured a tough winter, the sector is beginning to recover a sense of confidence in its own future.
“It is notable that optimism is increasing in Northern Ireland as it decreases in the UK, but it is also the case that the UK’S lowest rate of optimism recorded in April 2024, 24%, is higher than Northern Ireland’s highest rate, 22%, recorded in October 2023. Given the various initiatives around rates relief in Britain, from the blanket 75% hospitality relief to the 100% rural pub relief, it is understandable that optimism is higher in Britain than in Northern Ireland.
“Increased costs of doing business are borne out in the 12% increase in total staffing costs reported since the increase in the National Wage. It is thus unsurprising that our surveys have seen an increase in operators who are unsure about their futures rather than outrightly positive or negative. 93% of our members cited a VAT reduction for hospitality as the most desirable government support to help them tackle these increased costs, with 69% citing full business rates reform; uncertainty will continue to spread unless such supports are delivered. We would urge the Executive to work with industry to deliver upon these supports in order to ensure that this increase in optimism does not dwindle.”
“Having endured a tough winter, the sector is beginning to recover a sense of confidence in its own future”
LIBERTY IT has announced the launch of a new bursary for students at Queen’s University Belfast.
The William Hamilton Data Science Prize is in honour of its previous Managing Director who was at the helm of the company for 24 years.
The industry leader of digital innovation has a long-standing relationship in support of the university and this latest initiative will recognise and reward the two highest performing students in Year 1 of the Data Science Degree over the coming four years.
Tony Marron, Managing Director of Liberty IT said: “Willie Hamilton has played a key role in Northern Ireland being recognised as having one of the world’s fastest-growing tech sectors. I was fortunate to work alongside him for 20 years and I know that his fellow colleagues at Liberty IT, and indeed across the wider technology community, will agree that he has left a lasting impression.
“When Willie retired, we wanted to acknowledge his legacy and we can’t think of a better way than by creating a bursary in his name to support the tech talent of the future – something he is very passionate about. Through the William Hamilton Data Science Prize we hope to inspire students to follow in Willie’s footsteps and learn from his commitment and dedication.”
Willie Hamilton added: “As a Queen’s University alumni, I am honoured that Liberty IT has introduced a bursary in my name. Northern Ireland has an abundance of tech talent and an impressive calibre of students and it’s important that we give them help and guidance to encourage them to reach their full potential.
“I hope that the new bursary will encourage students to be open to all the opportunities that tech provides. I’m excited to follow their journeys through university and beyond, and I’m confident that, like me, they will go on to have long and successful careers.”
Anna Jurek-loughrey, Senior Lecturer and Course Director for Data Science at Queen’s University Belfast said: “We are very excited about this program and its potential to equip students with the skills necessary in the rapidly growing field of Data Science. Educating students in Data Science is increasingly important as the demand for expertise in this area continues to rise. We believe that this bursary will significantly encourage our students to fulfil their potential and achieve great success in their studies and future careers.”
“Northern Ireland has an abundance of tech talent and an impressive calibre of students and it’s important that we give them help and guidance to encourage them to reach their full potential”