The Minister for the Marine today unveiled a €40 million investment in water-based tourism as part of the National Development Plan.
Mr Frank Fahey said that under the new plan the Government would develop marinas around the Irish coastline in an effort to boost employment in areas suffering from a decline in the fishing industry.
Specifically identifying the west coast between Clare and Donegal, Mr Fahy said €23.7 million would be invested in these areas, with a further €15 million earmarked for the south and east.
"This programme has the potential to provide a comprehensive network of top class facilities, create hundreds of jobs and deliver economic benefits to virtually every coastal county in Ireland," he said.
Mr Fahy cited the decision by the Royal Ocean Racing Club to bring the Admiral’s Cup to Ireland in 2003 as an example of the type of major marine tourism event that Ireland could attract.
He also indicated Galway, with 197 sea-access points, could sustain as many as seven or eight marinas.