The amount of money spent by overseas visitors in Ireland is set to double to €6 billion by 2012, Minister for Arts, Sports and Tourism John O'Donoghue said today.
Speaking at the unveiling of the Irish Hospitality Institute in Dublin, he said the industry was set to meet targets set out in 2003 to double the amount foreign tourists spent over a 10-year period.
"Since the cataclysmic events of 2001 and subsequent years, the Irish hospitality industry has been going through a period of unprecedented change worldwide.
"These events, which included the 9/11 tragedy, Sars and the foot-and-mouth outbreaks, the war in Iraq, and, most recently and tragically, the terrorist bombing of London, have had a profound effect on travel and tourism, both internationally and in Ireland.
"It was vital that the Irish tourism industry should respond rapidly and positively to these events, and it has done so through its participation in the strategic initiatives proposed in the `New Horizons for Irish Tourism' report published in September 2003," he said.
Mr O'Donoghue said ambitious targets were set which included the doubling of overseas visitor spend from €3 billion to €6 billion over a 10-year period to 2012. There was a planned associated increase in visitor numbers from six to 10 million.
Mr O'Donoghue said the second report by the working group set up to monitor implementation of the initiatives showed Irish tourism was on target to meet the 2012 objectives.
He said it had also identified some barriers to tourism development in the country and that action was now being taken to address those.
The Minister said the Irish Hospitality Institute had a vital role in making sure Ireland stayed at the forefront of the tourism market.