Tourist spending worth €2.5m a day to economy
Overseas visitors spent over €903m on debit and credit Visa cards in 2013, meaning an increase of 20pc since 2012.
The research, carried out by Visa Europe, found that daily spending by tourists visiting Irish shores was worth €2,475,321 a day to the Irish economy.
The main bulk of foreign spending came from US and UK tourists. The UK visitors spent a total of €444,968,898 last year, which works out as €1,219,092 per day. Americans came in second place spending a total of €249,158,027, a daily average of €682,624.
The data also shows a rise in European tourists flashing the cash with their credit cards with spending by French tourists up 13pc, Spanish tourists up 17pc and German tourists up 19pc.
A significant contribution of spending also came from Asia and the Middle East with visitors spending more on average than other nations.
Indonesians spent more per transaction than any other nationality, with an average spend per transaction of €170.71.
Conor Langford, Ireland Country Manager for Visa Europe attributes the rise in credit card sales with the success of the Gathering.
"Clearly there is an opportunity to generate an even bigger boost for the Irish economy by encouraging more visitors from Asia and the Middle East to travel to Ireland due to the higher level of spending by travellers from those countries," he said.
A spokesperson for Failte Ireland said: "Markets such as Asia and the Middle East are definitely on our radar. The further away you travel – the longer you'll stay and the more money you'll spend. If you're coming from somewhere like Dubai or Hong Kong then Ireland is unusually green, beautiful and tranquil."