Ireland could lose out on millions brought into the country by international conferences due to an upcoming hike on VAT for accommodation.
Greg Carew, Vice-Chairman of the Association of Irish Professional Conference Organisers (AIPCO) said he is worried that this could scare many business tourists away.
The AIPCO is the body that represents conference organisers in Ireland, helping to organise over 175 international association conferences per year, brining in over 45,000 international delegates, worth up to €1,600 per conference.
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He stressed on Newstalk's Breakfast Business with Joe Lynam that Covid brought a "traumatic" few years and that three years worth of events have been organised since.
However, the high cost of conferences in Ireland are a major concern in the areas of accommodation and catering, which have a huge impact on events, he said.
"It is crucial that the VAT rate is retained at the 9%, which is due to increase to 13.5% by the end of the month," he said, adding that it would make Ireland the fourth highest for accommodation in Europe.
Mr Carew explained that the events are highly "lucrative" and are only secured through a "highly competitive bidding process."
He added that the high VAT on accommodation and food in Ireland would make it difficult to secure the delegates looking to bring the conferences to Ireland.
"We simply can't afford another cost increase," he concluded.
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