The three main outbound travel markets consisting of the US, Germany and Japan clearly dominate international travel demand, collectively constituting over $110 billion, of the $300 billion spent. Thereafter, the UK, France, Italy, Canada and the Netherlands account for a further $67 billion. These top eight countries together account for over 50 per cent of international expenditure.
Our dependence on seven of these — Japan being the exception — for over 80 per cent of business is not, in my view, an undue dependence on a limited set of markets. It is important to remember that where holiday income is concerned, Ireland has a very healthy spread with just over 40 per cent from mainland Europe and just under 30 per cent each from North America and Britain. In marketing terms this represents a good mix and I would not wish to see a situation of overdependence on any one single market emerge.