Festivals and events a key driver of economic growth, finds Cork Chamber survey

Festivals are a key driver of economic growth, according to the results of the latest Cork Chamber Economic Trends survey, with annual events offering an important boost to Cork’s economy each year. Sponsored by PTSB, the Economic Trends survey measured business sentiment and economic outlook among Cork Chamber members at the close of Q3 2025. Cork’s business community was also asked about the city’s night-time economy and events offering in this edition of the Economic Trends survey.

The Q3 2025 Economic Trends survey found that:

• 94% of respondents expressed confidence in their business from an overall financial perspective.

• Confidence in the Irish economy remains high at 73%.

• For those citing a lack of confidence in the economy, rising business costs were the number one concern.

Dining out the top reason for socialising in Cork city centre
Dining out emerged as the most popular reason for spending time in Cork city centre, cited by 70% of respondents. Attending arts and cultural events, as well as live music performances, is also a key reason for spending time in the city.

Rob Horgan, Cork Chamber President, said, “Cork has a vibrant culinary and night-time economy offering, which plays an important role in placemaking, ensuring the city region remains an attractive location for talent and investment.

“Annual events such as the Jazz Festival, the Cork International Film Festival, Cork on a Fork, Cork Midsummer Festival, and so much more play an important role in drawing people into the city centre, making use of the city’s amenities and showcasing what Cork has to offer. The impact on the economy is clear, with almost all respondents highlighting the positive economic impact of festivals and events.

“Maintaining and enhancing safety in Cork city centre will be critical to further improving Cork’s night-time economy and events offering. Survey results indicate that Garda visibility, public realm design and the availability of public transport are the most important factors influencing the feeling of safety in the city.”
 
Economic confidence high, but rising business costs a concern
Confidence in the Irish economy as a whole remains high at 73%, however rising business costs emerged as the top concern for future economic growth among respondents.

Auriol Kelly, Business Banking Manager at PTSB, said, “It is very encouraging to see the business community express such strong levels of confidence in the Irish economy, and about the future of their business in Q3 2025. Although concerns are evident in areas such as the cost of doing business, housing supply and skills availability, the overall economic outlook for the remainder of 2025 is positive, and PTSB is here to support the business community in meeting their objectives, now and into the future.”

Mr Horgan concluded, “With a range of events and festivals planned for the rest of the year in Cork, the outlook for the local economy is good. According to the survey results, providing more dedicated events spaces in Cork would support local businesses, attract more visitors to Cork and strengthen the region’s overall competitiveness by attracting investment and talent, and the Cork Events Centre must be a key priority for the region’s future development.”