Get the app today! Download iPhone App Download Android App

ITIC Calls For Extra €50m To Be Allocated To Fáilte Ireland And Tourism Ireland

Published on Aug 3 2018 11:44 AM in General Industry tagged: Featured Post / Fáilte Ireland / ITIC / Tourism Ireland / Irish Tourist Industry Confederation

ITIC Calls For Extra €50m To Be Allocated To Fáilte Ireland And Tourism Ireland

The Irish Tourist Industry Confederation (ITIC) has called for an annual allocation of €164 million to Fáilte Ireland and Tourism Ireland in its pre-budget submission to the government. This represents a rise of €50 million from the €114 million allocated to the agencies in 2018.

According to The Irish Times, ITIC highlighted the fact that the agencies were allocated €153 million a decade ago and said that some of the extra money could be put towards establishing a Brexit “market diversification fund” for exposed tourism businesses.

Itic estimates that a worst-case “no-deal” Brexit could cost the Irish tourism industry as much as €260 million in 2019.

State Return

The Confederation also asserts that any tourism investment will ultimately deliver a 34:1 return to the state and insists that the government should not abolish the tourism industry’s special 9% VAT rate, the relevancy of which was called into question in the wake of a review by the Department of Finance  this week.

© 2018 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.

Share on Facebook Share on Twitter Share on Google+ Share on LinkedIn Share on Tumblr Share via Email