The Minister for Arts, Sport and Tourism has welcomed the agreement reached in the US today which will see the Shannon stopover phased out within three years.
John O'Donoghue said the proposed new arrangements negotiated as part of an overall deal on an EU-US Open Skies policy, have "major potential to open up a range of new air services between Ireland the US".
The Minister said a million visitors from the US visit Ireland each, spending a total of nearly €700 million.
"This is great news for the Irish tourism industry," Mr O'Donoghue said. "The USA is our second largest tourism market. US visitors stay longer, spend more per capita and travel more widely in the country, which is critically important for improved regional spread of tourism."
Mr O'Donoghue said he was "particularly happy" that the need for a transition phase for Shannon had been recognised.
Dublin Chamber of Commerce said ending the Shannon stopover would boost business and tourism in the capital.
Dublin Chamber Chief Executive Gina Quin said: "The ending of the stopover will widen the door to increased visitor numbers from the US, inward investment and business development."
"The phasing out of the stopover presents a tremendous opportunity to develop new aviation business between Ireland and the USA. It has long been known that the existing quota system for compulsory landings for transatlantic flights at Shannon Airport has been a significant deterrent to new flights in and out of Ireland."
Tourism Ireland also welcomed the move. The body's chief executive Paul O'Toole said that bringing the matter to a conclusion will remove a barrier to growing direct access from the US and hence open up new opportunities for access development and consequential tourism growth from this key market.
"I am confident that once matters are finalised there will be strong interest from carriers in increasing services to the island of Ireland. Tourism Ireland will work closely with carriers and airports to provide the appropriate supports to those considering introducing new routes and services," he said.