Displaying items by tag: investment

Q: Give examples of marine leisure tourism?

Sports: sailing, surfing, diving and fishing Heritage: Unesco coastal villages, archaeological sites of interest, biospheres and historical points of interest Arts: coastal museums, art galleries, museums, wrecks Education: Eco-tourism, field courses, NGOs. Food: Seafood restaurants, Seafood festivals

2nd February 2012

Fastnet Line Closes For Good

#FERRY NEWS - The Fastnet Line ferry service between Cork and Swansea is to close with the loss of 78 jobs.

As previously reported on Afloat.ie, the operator had been in examinership since last November, and a restructured business plan had been submitted with a view to resuming high-season service in April.

However, in a statement the owners of the Fastnet Line said they had been unable to raise the €1m-plus investment required and that the examinership had "failed".

All 78 jobs will be lost as the company is set to be placed in receivership or liquidation later today.

The Fastnet Line - which was worth around €30 million to Cork in tourist spending - made its maiden voyage from Swansea to Cork in 2010, and was the only direct passenger and freight link between Wales and the south coast of Ireland.

The Irish Times has more on the story HERE.

Published in Ferry

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7th December 2011

Marine Escapes Cuts in Latest Budget

#BUDGET - Coastguard and lifeboat services, mountain rescue and the Commissioners of Irish Lights will not face any further funding cuts in the latest Budget, according to the Minister for Transport.

The Irish Times reports that, following the reduction of his department's budget, Minister Leo Varakdar stated that substantial cuts have already occurred in the maritime safety sector.

Moreover, he announced an increase in the maritime budget from €70.5 million to €80.3 million, due to provisions for the new Irish Coast Guard helicopter contract.

Earlier this week, Minister for Agriculture, Food and the Marine, Simon Coveney, underlined the importance of the marine sector to Ireland's coastal communities.

As previously reported on Afloat.ie, Minister Coveney announced a round of expenditure estimates on Monday which include increased funding for investment in processing, aquaculture and fishery harbours.

Published in Budget

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24th June 2011

Galway Students Win Big for Surfing Website

Two students at NUI Galway have won a €15,000 investment in an enterprise competition for their website promoting surfing in Ireland.

http://www.siliconrepublic.com/start-ups/item/22170-surfing-website-wins/

“WestCoastSurfer.com has huge growth potential and is well grounded in commercial reality with great opportunities for the West of Ireland,” said chairperson of the judging panel Helen Ryan.

Two students at NUI Galway have won a €15,000 investment in an enterprise competition for their website promoting surfing in Ireland.

Oisin Halpin and Cian Brassil of WestCoastSurfer.com took the top prize at the NUI Galway Student Enterprise Awards earlier this month, with judges convinced by their brand and ability to attract investment to the region, according to Silicon Republic.

“WestCoastSurfer.com has huge growth potential and is well grounded in commercial reality with great opportunities for the West of Ireland,” said chairperson of the judging panel Helen Ryan.

Published in Surfing

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18th March 2011

Scotland To Host World's Biggest Tidal Power Array

Scotland's west coast will be home to the world's largest tidal power facility, it has been announced.

The £40 million (€45.9 million) 10MW tidal array, to be developed by ScottishPower Renewables in the Sound of Islay, will generate power for more than 5,000 homes.

Scottish Cabinet Secretary for Finance John Swinney, who signed off on the deal, described the project as "a milestone in the global development of tidal energy".

"Scotland's seas have unrivalled potential to generate green energy, create new, low carbon jobs, and bring billions of pounds of investment to Scotland," he said.

The project comes in tandem with the consultation process for the Scottish government's National Marine Plan, intended to highlight the best opportunities for investment across all marine industries.

Energy & Environmental Management has more in the story HERE.

http://www.eaem.co.uk/news/world-first-scottish-tidal-power

Scotland's west coast will be home to the world's largest tidal power facility, it has been announced.

The £40 million (€45.9 million) 10MW tidal array, to be developed by ScottishPower Renewables in the Sound of Islay, will generate power for more than 5,000 homes.

Scottish Cabinet Secretary for Finance John Swinney, who signed off on the deal, described the project as "a milestone in the global development of tidal energy".

"Scotland's seas have unrivalled potential to generate green energy, create new, low carbon jobs, and bring billions of pounds of investment to Scotland," he said.

The project comes in tandem with the consultation process for the Scottish government's National Marine Plan, intended to highlight the best opportunities for investment across all marine industries.

Energy & Environmental Management has more on the story HERE.

Published in Power From the Sea

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Marine Leisure & Aquatic Tourism

Domestic coastal tourism expenditure was approximately €698 million in 2018, while domestic marine tourism generated €381 million.

Activities such as walking/ running along the coast, swimming and beach visitations are among the most popular activities for domestic visitors on both day and overnight trips.

While participation rates in pursuits such as bird and wildlife watching in coastal areas and visiting nature reserves, etc. in coastal areas were lower, these activities did see the highest frequency of both day and overnight trips for those active in these activities.

According to the National University of Galway (NUIG) research the average expenditure per coastal day trip in 2018 was calculated at €95. The equivalent for coastal overnight trips was €310. The estimated water-based activity expenditure per person per trip across the sample was €56 rising to €73 for the subsample that actually undertake waterbased activities on their coastal visits. The results also indicate that domestic tourists undertake the majority of their marine activities on the West and South coasts of Ireland and that there are notable differences in participation rates across age groupings, social classes and by family makeup.

A domestic tourist is defined in this report as a person who spends at least one night away from home on their trip. Total expenditure by domestic tourists in coastal areas was estimated to be €698 million in 2018, which represents 35% of the total expenditure by domestic tourists (using the broader Fáilte Ireland measure for domestic tourists that includes business trips equating to 10.92 million in total trips and €2,006 million in total revenue).

The marine-related activity expenditure, or what might truly be referred to as domestic marine tourism, is estimated to generate revenue of €381 million with €172 million being spent on water-based activities. Marine tourism makes up an estimated 19% of total domestic tourism expenditure.

Marine Leisure Tourism - FAQ

What is marine leisure tourism?

Coastal tourism refers to land-based and water-based tourism activities taking place on the coast for which the proximity to the sea is a condition including also their respective services. Coastal and Marine Tourism & Leisure are seen as one of the Blue Economy (BE) sectors that can help unlock the potential of multi-use of space at sea by engaging with Blue Growth (BG) sectors such as Aquaculture and Marine Renewable Energy among others.

Give examples of marine leisure tourism?

Sports: sailing, surfing, diving and fishing Heritage: Unesco coastal villages, archaeological sites of interest, biospheres and historical points of interest Arts: coastal museums, art galleries, museums, wrecks Education: Eco-tourism, field courses, NGOs. Food: Seafood restaurants, Seafood festivals

What marine leisure tourism studies have been conducted in Ireland?

NUI Galway carried out a survey of domestic residents in Ireland in 2019 as part of a survey entitled "Valuing and understanding the dynamics of Ireland's Ocean Economy". The purpose of the household survey was to profile the domestic market for single-day trips (leisure) and overnight trips (tourism) for coastal and marine-related activities in Ireland. The results of the survey are also used to estimate what proportion of an Irish resident's total domestic tourism expenditure is in coastal areas (coastal tourism) and what proportion is spent on undertaking marine-related activities (marine tourism).

What were the results of the NUI marine leisure tourism study?

The NUI results highlight the important contribution that Ireland's marine and coastal resources make to the leisure experiences of the general population and the importance of the domestic tourism market to local coastal economies. The analysis indicates that domestic coastal tourism expenditure was approximately €698 million in 2018, while domestic marine tourism generated €381 million. Activities such as walking/ running along the coast, swimming and beach visitations are among the most popular activities for domestic visitors on both day and overnight trips. While participation rates in pursuits such as bird and wildlife watching in coastal areas and visiting nature reserves, etc. in coastal areas were lower, these activities did see the highest frequency of both day and overnight trips for those active in these activities. Satisfaction with the available marine-related leisure facilities was also found to be very high across all activities.