Business tourism in Ireland grew by 5 per cent in 2005 to a total of 857,000 visits.
The sector is now worth €457 million annually, according to figures released by Fáilte Ireland today.
The Dublin market saw a 26 per cent increase in the number of conferences held there, and overall the number of people participating in corporate meetings, conferences and incentive trips in Ireland grew by 23 per cent in 2005.
The chairman of the Fáilte Ireland Business Tourism Forum, Peter Malone, said: "The launch of the business tourism brand is a significant advance in the industry's approach to marketing Ireland as a world-class business tourism destination".
He called for a National Conference Centre to be built and for a reduction in VAT on accommodation in an effort to attract more business tourism.