Tourism features in infrastructure investment priorities

  • Ireland benefited hugely during the Celtic Tiger years from substantial annual capital investment by Government, rising from about €2 billion in 1997 to a peak of €9 billion in 2008.
  • Given the changed economic circumstances it was inevitable that this level of capital expenditure would be curtailed. Last week the Government announced its revised programme through 2016.
  • It’s still a chunky level of investment at just under €40 billion, or about €5.5 billion each year.The big spending areas are – Transport 32%, Environment 23%, Education 11%, Enterprise, Trade & Innovation 10%, Health 8%, with the balance spread over a number of areas including Tourism, Culture & Sport, which is allocated 2.2% of total capital spend. But tourism will benefit substantially from expenditure in other areas too, particularly transport.
  • The revised programme recognises that tourism is an important internationally traded service requiring a significant programme of investment over the 2010-2016 period. This, it suggests, will support the tourism industry in contributing to national economic recovery and delivering strong employment benefits.
  • In the region of €190 million will be invested in tourism related infrastructure to promote Ireland as a high quality tourism destination and to maximise the economic contribution of the tourism sector.
  • While acknowledging the recent significant drop in overseas visitors, the programme states that tourism remains a valuable internationally traded service which can again deliver significant value added and employment to the economy.
  • The reprioritised programme for tourism will be administered through Fáilte Ireland.  For further details CLICK HERE.
  • If you would like to comment on anything you’ve read here, VISIT OUR BLOG!
Share this:Share on FacebookTweet about this on TwitterShare on Google+Share on TumblrPin on PinterestShare on LinkedIn
To unsubscribe from the ITIC newsletter, please email info@itic.ie with "Unsubscribe From Ezine List" as the subject.