The Government has launched a new strategy aimed at increasing international student numbers in higher education by 50 per cent and the numbers in English-language schools throughout the State by 25 per cent within five years.
The blueprint entitled "Investing in Global Relationships" envisages that the international education sector will be worth €1.2 billion per year to the Irish economy by 2015.
The area is currently worth an estimated €900 million annually. As part of the strategy, the Government has also launched a new immigration regime for international students, reforming entry requirements but imposing safeguards to prevent abuse of the system.
The strategy was launched at Government Buildings today by Taoiseach Brian Cowen, Tánaiste and Minister for Education, Mary Coughlan and Minister for Justice Mr Dermot Ahern.
Mr Cowen said this "very important" strategy was about "setting out a pathway for Ireland in what is a very competitive area, to become a world-class provider of international education".
He added: "We have a very well-regarded education system as we know. We have had a tradition of people coming from abroad coming to be educated here.
"This is a very highly-competitive area of activity in terms of how many countries are promoting their comparative advantages," Mr Cowen said.
He said it was "a very ambitious but practical plan". At present there were 17,000 fulltime students who had come to this State from abroad, or about 10 per cent of the total fulltime student population and the aim was to increase that to 25,500 by 2015.
"And we have this year over 100,000 English-language students who have come to Ireland. We want to make sure that that's built up to 120,000 by 2015.
"Action-plans and initiatives to underpin how these targets can be achieved are set out in the strategy that we have devised and which has been approved by Government," the Taoiseach said.