The latest Dublin Economic Monitor shows dramatic falls in hotel occupancy rates, passenger numbers at Dublin Airport and public transport trips.
The report, covering the first three months of the year, also shows evidence of very difficult times ahead for the capital.
There were 57 million trips on public transport in Dublin from January to March, a 4.7 per cent drop on 2019 as Covid-19 movement restrictions kicked in.
Dublin’s hotel occupancy rate fell dramatically to 33 per cent in April - dropping 57 per cent year on year.
Provisional data from Dublin airport points to an almost 60 per cent annual fall in passengers numbers in March.
Latest Dublin Economic Monitor now on https://t.co/vOC0x5FweV. Shows early effects of #COVID19 restrictions. #dublineconomy @DubCityCouncil@Fingalcoco @LEODublinCity @dlrcc @sdublincoco @Dublin_ie @EY_Ireland @smartdublin @David_McNam pic.twitter.com/o4Iq9MgykC
— Economic Development Office (@DCCEconDev) May 28, 2020
The report found that the city's economy has been more resilient than other parts of the country but difficult times are ahead.
720,000 people living and working in Dublin were having their income subsidised or were in receipt of pandemic unemployment payments by mid -May.
One sector to benefit is e-commerce with sales in Dublin increasing by more than 10 per cent year on year during Q1.
David McNamara is Director with EY-DKM Economic Advisory, who compiled the report;
"As was the case in the aftermath of the last recession, Dublin should recover at a faster pace than the rest of the country due to its industry mix of domestic services firms and multinationals, but most forecasters are now discounting any prospect of a ‘V-shaped’ recovery.
Jobs might be permanently lost in tourism and retail in the city, while a shift towards remote working in other sectors could change the way citizens travel and socialise in the city."
