If tourism firms offer value for money and show imagination there is no reason their business plans cannot succeed, one of the largest tourism lenders has said.
Royal Bank of Scotland (Ireland) is a major lender to the tourism sector and Mr Michael Larkin, divisional director, tourism and leisure division, said he was upbeat about prospects for the sector and the bank would not be pulling back from investment opportunities.
"We have a superb product here in Ireland and I'm convinced that, by working together on a number of key initiatives, we will meet current challenges and prosper just as before," he said
He said despite tough market conditions the bank was backing worthwhile projects.
"Now is the time for tourism enterprises to show imagination and flair in devising and packaging value-for-money, quality products and holiday packages. In terms of product development, it is not a time to retreat but to be innovative in meeting the desires and needs of tourists," he said.
He added: "I would say that partnership has brought much economic success to Ireland Inc over the past decade or so. I believe the same approach, with all key interests contributing their part, can get us out of our current difficulties in the tourism sphere and pave the way for solid growth in the years ahead".
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