Announcing the funding, Minister of State for Tourism and Sport, Michael Ring TD said "tourism is key to our economic recovery and these announcements add to the strong package of festivals and events that Minister Varadkar and I announced last month. Festivals are magnets for visitors, from home and abroad, whose spending will support jobs and the local economy".

The total amount will be split between ten varied festivals -between music, film, sport, food and family- based on their ability to generate tourism bednights in their respective locations.

Limerick will receive a huge boost from the funding, as three of its festivals are included in the package. Ireland's longest-running international Band parade, in its 42nd year will benefit, which sees primary participants from North American High School Bands descend upon the city. The Limerick Riverfest and Great Limerick Run will also gain funding.

For food, the Waterford Harvest Festival, which hopes to become one of the premier food festivals in Ireland, is included, alongside the famous Galway International Oyster Festival. The International Quilt Festival of Ireland is a niche festival which has been included in the list, which is aimed very specifically at international visiting tour groups of quilters.

In its first year, Camden Crawl Dublin is set to kick off with a bang, based on the hugley popular London equivalent.

Other festivals included in the package are the Donegal International Motor rally, the Corona Cork Film Festival and 7UP Winter Wonderland, which is staged for five weeks each winter in the Royal Hospital, Kilmainham.

Shaun Quinn, of Fáilte Ireland, said "wherever you go around Ireland, there will be festivals and things to see and do everywhere. Behind all the fun and enjoyment lies a strong business case. The simple matter is, interesting and attractive festivals bring people into this country and encourage people to travel throughout the country".

He also added "Festivals and events also greatly improve the overall visitor experience of Ireland, providing opportunities to showcase not only Irish culture but the good nature, charm and invention of our people as well".