The GDA offers a wide range of tourist attractions, which has led to the industry thriving in the region.
• Kildare attracts sport and recreation tourists who visit for horse racing at the Curragh and golf in the K Club, which hosted the Ryder Cup in 2006.
• Newgrange in Co. Meath attracts tourists interested in history and archaeology.
• Wicklow attracts tourists interested in natural beauty due to its mountainous and glaciated landscape, e.g. Powerscourt and Glendalough.
: Fig. 22.21 Newgrange, Co. Meath
• Dublin offers the perfect city break with tourists attracted to the Guinness Brewery (>1 million visitors per year), Dublin Zoo (950 000 visitors), Dublin Castle (170 000 visitors) and National Gallery (590 000 visitors).
Financial Services
The International Financial Services Centre (IFSC) is located in Dublin’s North inner city on the former docklands. This is home to the headquarters of Ireland’s main banks. The IFSC deals with international trade of finance. The IFSC was set up in 1987 to boost investment and employment in the Irish economy. The Government established a special 10 per cent corporation tax for companies which set up in the IFSC. This special rate ended in 2002 but by then it had already attracted many companies.
The IFSC has been a major success in reversing the emigration and unemployment of the 1980s. Many graduates from the GDA’s colleges and universities could find employment with the international companies in the IFSC. Today, the IFSC employs over
35 000 people and pays approximately €1 billion in corporation tax and a further €1 billion through tax on employees’ wages.
Some 450 international companies have offices in the IFSC, including 25 of the world’s top-50 banks. Half of the world’s top-20 insurance companies also have offices there.
