Travel costs for IDA chief topped €45,137 last year
Destinations to drum up investment included San Francisco, Mumbai, and Hong Kong
IDA chief Martin Shanahan made multiple overseas trips as part of the IDA’s remit to attract inward investment.
The €26,125 spend on flights and €19,012 spend on hotels arose as Mr Shanahan made multiple trips overseas as part of the IDA’s remit to attract inward investment from overseas companies.
In response to a Freedom of Information request, the IDA confirmed that Mr Shanahan’s overseas destinations last year included San Francisco, New York City, Zurich, Mumbai, Istanbul, Berlin, Tokyo and Hong Kong.
The IDA’s total spend on flights last year amounted to €855,702 and overseas hotel bill totalled €300,783.
Enterprise Ireland’s FOI unit stated that organisation’s flight costs last year totalled €1.32 million and overall overseas hotel costs totalled €728,991.
“The nature of IDA Ireland’s business is international,” the IDA said. “FDI is won in the market and as such necessitates extensive travel by IDA executives, including the CEO, throughout the year.
“A central part of Martin Shanahan’s role is to meet with the decision markers in existing and potential client companies across the globe.
“These face to face meetings play a vital role in building strong business relationship with leading international companies in order to win investment to Ireland.”
The response added that IDA Ireland has strict travel policies in place to govern travel by executives in line with public sector policies.
“The approved class of travel is dependent on a number of factors including the length of flight and intensity of itinerary at the destination country,” it said.
The IDA declined to provide a breakdown of Mr Shanahan’s flight and hotel details “as this could indicate the frequency and duration of the CEO’s visits to overseas locations and would be commercially sensitive to IDA Ireland as we are competing for FDI in a global market”.
“This information could also adversely impact the financial and economic interests of the State if it was released as it would indicate locations of IDA focus when attracting and expanding FDI in the State,” it added.
The costliest overseas venture for Ms Sinnamon was a trade mission to New Zealand where the cumulative cost of eight flights came to €6,589 where hotel costs totalled €1,683.