State body IDA Ireland spent €49,500 on Davos this year

State body IDA Ireland spent over €49,500 at the 50th World Economic Forum (WEF) conference in Davos in January, new figures show.

The organisation, which is responsible for attracting foreign investment to the Republic, said it spent €36,757 on a dinner event. It also spent a further €12,791 on accommodation and flights.

The expenditure figures have been published on the IDA’s website.

The State body typically holds a dinner at Davos for up to 50 executives from overseas companies based in Ireland and prospective clients.

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Taoiseach Leo Varadkar was due to host the event but along with Minister for Finance Paschal Donohoe pulled out of Davos this year to focus on campaigning for the election.

US president Donald Trump, Prince Charles and Swedish environmental activist Greta Thunberg were among those to attend this year's gathering in January.

Speaking to The Irish Times on the fringes of the forum, IDA chief executive Martin Shanahan said slowing growth and the advent of an international digital tax regime as potential challenges for the State over the coming years in securing foreign direct investment, following record levels of activity in the past five years.