Next month's G8 summit could generate up to £7.5m for Northern Ireland's tourism industry.
On a wider business level, the gathering of the world's top leaders at the five-star Lough Erne Resort in Enniskillen, Fermangh, on 17 and 18 June, is expected to provide a £40m boost to the region, according to a new report from Barclays.
Research carried out by the Northern Ireland Centre for Economic Policy within the University of Ulster on behalf of Barclays, showed that 73% of hospitality and tourism businesses expect the event will have a positive or very positive impact on the economy.
Mike Saul, head of hospitality & leisure at Barclays, said: "The summit presents a fantastic opportunity to showcase the region to a global audience, with the potential to attract both international and domestic tourists in both the short and long term - this is a great opportunity for the sector."
It is estimated that global media coverage of the event could potentially generate the equivalent of £70m of advertising space in the immediate term, and over £500m in the longer term.
Ferghal Purcell, general manager of Lough Erne Resort, said that the hosting of the 39th G8 summit was great for the people of Enniskillen, and for Northern Ireland as a whole.
"The eyes of the world will be on us and we are more than proud to have our beautiful resort selected as the venue and the backdrop for this prestigious meeting," he explained. "We look forward to giving the delegates, the guests and the world's media a true Northern Ireland welcome."
Winner of the Hotel of the Year at the 2011 Northern Ireland Tourism Awards, the 120-bedroom Lough Erne Resort is located on a 600 acre peninsula between Lough Erne and Castle Hume Lough.
\* Lough Erne Resort, which opened in 2007, was put on the market for £10m in September last year after its parent company, Castle Hume Leisure, went into administration. However, following a major fire two months later in the pool area, the hotel was removed from the sale process. Last week, the resort went back on the market.
Joint administrator Stuart Irwin of KPMG said: "There was significant worldwide interest in the resort before it was withdrawn from the market due to the fire at the start of November.The rebuild has been completed and has enhanced the quality of the facilities at the resort. We are asking for offers in the region of £10m and we fully expect that there will be a very positive response to the relaunch. We are hopeful of concluding a sale process later in the year."
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