I propose to take Questions Nos. 12 and 29 together.
Major international specialist events can present significant marketing opportunities for a variety of commercial interests. Over many years, Bord Fáilte has taken advantage of the opportunities provided by several major international sporting events – international golfing events being a classic example – to market Ireland as both a general tourism destination and also as a sports tourism destination, as well as attracting visitors to Ireland in their own right.
Many major international sporting events will not just be funded by gate receipts but by a variety of commercial income streams. These will arise from leasing retail/catering space, marketing stands, merchandising deals, sale of advertising, hospitality, etc. To be held at all, many major sporting events will have to be able to put forward a credible package of marketing opportunities and be able sell these to serious commercial players. This is a very specialized area and, in order to exploit some of the opportunities which it presents and to have an efficient, streamlined and transparent system for Bord Fáilte's participation in such events, the international sports tourism initiative was launched by the Government in 2000.
Even though it has a ring-fenced allocation under Bord Fáilte's budget, the initiative is not a traditional grant scheme. Essentially, it is a framework which governs Bord Fáilte's participation in commercial relationships with event organisers. Bord Fáilte is paying for a set of benefits which the event organisers guarantee to provide. If the events do not deliver the benefits promised, a certain portion of the payment may be withheld and the prospects for future marketing investments by Bord Fáilte diminished.