Ireland is on course to attract more tourists this year than ever before, the country’s tourism minister said last week, as the European Union’s fastest-growing economy reaps the benefit of a weakening euro.

Older industries such as tourism and agriculture have become an increasing focus for the government since the collapse of the country’s property bubble in 2008 led to a bailout by the EU and the International Monetary Fund.

Tourist trips, mainly from Britain and the US, were up 12 per cent in the first five months of 2015 on an annual basis, the central statistics office said on Wednesday.

Ireland’s minister for transport, tourism and sport, Paschal Donohoe, said the numbers indicated 2015 was set to be a “record year” for the industry.

The near 20 per cent fall in the euro against the US dollar since the start of 2014 was “the big factor” behind the increased visitor numbers, said Alan McQuaid, chief economist at Merrion Stockbrokers. The industry is far more labour-intensive than the technology and pharmaceutical industries that also drive the economy, employing around 200,000 people out of a workforce of 1.9 million, he said.

The country’s tourism board said that last year overseas visitors accounted for around €4.1 billion of revenue, boosted by cuts to value-added tax on tourism- related services and scrapped air travel taxes.