Tourism revenue set to drop as Americans holiday at home

IRISH tourism revenue may decline for the first time in four years in 2008 as the weak dollar forces US tourists to stay at home.

After a decade of growth, which saw receipts from visitors to Ireland jump 92% from €2.3bn in 1998 to over €4.4bn last year, the industry is facing challenging times.

A report by Davy stockbrokers said the three main problems facing the tourism industry are weakening external and domestic demand, unfavourable foreign exchange movements and overcapacity.