Allowing VAT refunds on hotel costs for conference visitors gives an enormous boost to marketing Ireland and in gaining a greater share 40 billion global conference market. This positive change in the treatment of VAT on business expenditure in hotels puts Ireland on a more even playing field with other EU countries when competing in the business tourism market.
"It will ensure Ireland is successfully positioned as one of the key locations on the international conference map", says Annette Devine, President, Irish Hotels Federation (IHF) in response to Budget 2007. "We await the details of this measure in the Finance Bill. This progressive VAT measure will also be a major asset in promoting Dublin as a major international conference destination when combined with the expected shortly to be announced definitive completion date for the national conference centre in Dublin", says Ms Devine.
The IHF also acknowledged the 1% cut in the top rate of personal income tax and the raising of tax credits and tax bands. It suggests that these measures will contribute to maintaining the level of domestic disposable income which is so important in continuing the growth in the Irish economy and are a major driver in the continuous growth of the domestic tourism. It stated it is a significant pro tourism budget and that these measures combined with the 9% increase in the tourism funding allocation, already announced in the Estimates are a major boost for the sector.
The IHF welcomed the announcements by Brian Cowen T.D., Minister for Finance which it stated recognises the value of tourism to the national economy. It also acknowledged the work by John ODonoghue T.D., Minister for Arts, Sport and Tourism in keeping tourism high on the Governments agenda. The tourism industry is this countrys largest indigenous employer in which approximately 140,000 people are employed. It is a major contributor to the economy the Exchequer received 2.5 billion in taxation from tourism in 2005 and allowing for indirect and induced effects, tourism accounted for 3.8%. Its success affects every single city, town and village in this country.
"The progressive announcements today will assist our sectors ambitions to increase tourism visitor numbers to some 10 million visitors to Ireland by 2010. We welcome ongoing Government progressive policies to safeguard this important industry", concludes Ms Devine.
"It will ensure Ireland is successfully positioned as one of the key locations on the international conference map", says Annette Devine, President, Irish Hotels Federation (IHF) in response to Budget 2007. "We await the details of this measure in the Finance Bill. This progressive VAT measure will also be a major asset in promoting Dublin as a major international conference destination when combined with the expected shortly to be announced definitive completion date for the national conference centre in Dublin", says Ms Devine.
The IHF also acknowledged the 1% cut in the top rate of personal income tax and the raising of tax credits and tax bands. It suggests that these measures will contribute to maintaining the level of domestic disposable income which is so important in continuing the growth in the Irish economy and are a major driver in the continuous growth of the domestic tourism. It stated it is a significant pro tourism budget and that these measures combined with the 9% increase in the tourism funding allocation, already announced in the Estimates are a major boost for the sector.
The IHF welcomed the announcements by Brian Cowen T.D., Minister for Finance which it stated recognises the value of tourism to the national economy. It also acknowledged the work by John ODonoghue T.D., Minister for Arts, Sport and Tourism in keeping tourism high on the Governments agenda. The tourism industry is this countrys largest indigenous employer in which approximately 140,000 people are employed. It is a major contributor to the economy the Exchequer received 2.5 billion in taxation from tourism in 2005 and allowing for indirect and induced effects, tourism accounted for 3.8%. Its success affects every single city, town and village in this country.
"The progressive announcements today will assist our sectors ambitions to increase tourism visitor numbers to some 10 million visitors to Ireland by 2010. We welcome ongoing Government progressive policies to safeguard this important industry", concludes Ms Devine.
