20,000 fewer taxi drivers on the roads since 2009
The number of taxi drivers on the roads has dramatically dropped by 45pc since 2009, according to figures from the National Transport Authority.
The number of active drivers had decreased to 26,087 at the end of August 2017 from 47,222 active drivers eight years ago.
Joe Herron, president of the Irish Taxi Drivers' Federation, said there has been a huge number of drivers leaving the industry and living standards are "beginning to return to a favourable level".
Mr Herron said there has been countless drivers leaving the industry after the country's roads were "flooded with taxis" in 2009.
"At its peak you were talking about roughly the same amount of taxis operating in Dublin as there are in London, and we have a population of around one million," he said.
"Other jobs have become available now and loads of people have left the business, leaving wages starting to return to a more favourable level," he said.
It came as news broke that taxi app MyTaxi will now be adding a fee of €2 for passengers.
The Irish Taxi Drivers' Federation said the additional fee for passengers is "not a new charge" and goes back decades.
"This new charge is a very small charge for a driver to pick you up from outside your place or your preferred location and is part of the driver's wages and earnings," he said.
Mr Herron said drivers have been known to accept a job from 4km away from the pick-up point.