CIE Tours International today reported a 12 per cent growth in revenues to over €55 million.
Issuing its 2004 year end preliminary results, the tour company said business generated in the United States exceeded the expectations, despite the fall in the dollar's value.
Revenue from the US market rose by 17 per cent but fell by 12 per cent for Britain and the rest of Europe.
Managing director Mr Brian Dowling said Europeans were finding Ireland more expensive after a decade of higher inflation levels.
Mr Dowling called on the Government to consider adjusting VAT rates to average European levels of about 9 per cent.
