Irish-American Dollars: A Coveted Source of Foreign Exchange

Anne Groutel ()
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Anne Groutel: Université de Rouen Normandie

Chapter Chapter 3 in The Two Irelands and the Diaspora, 2026, pp 29-49 from Springer

Abstract: Abstract This chapter examines Ireland’s post-World War II efforts to address its dollar deficit by targeting Irish-American tourists as a key source of foreign exchange. With limited exports to the United States and Canada, tourism emerged as a potential solution strongly encouraged by the Economic Cooperation Administration (ECA). While US officials saw significant opportunity in Irish-American nostalgia-driven travel, the Irish government displayed ambivalence. Scepticism among civil servants, political sensitivity, and fiscal conservatism hampered progress. The “An Tóstal” festival, launched in 1953 to attract diaspora tourists, encapsulated both the ambition and shortcomings of these initiatives. Despite significant promotional efforts, logistical weaknesses, internal resistance, and poor coordination undermined its success. While Seán Lemass championed tourism and recognised its potential, the lack of sustained political consensus and administrative follow-through contributed to An Tóstal’s eventual failure by 1958. Nevertheless, US familiarisation tours and diaspora engagement efforts planted seeds for future transatlantic economic collaboration. The chapter ultimately reveals how cultural nationalism, bureaucratic inertia, and political divisions complicated Ireland’s attempt to mobilise its diaspora for economic gain in the 1950s, illustrating the broader challenges of translating sentimental ties into sustainable tourism revenue.

Keywords: Irish-American tourism; Dollar deficit; Marshall Plan; An Tóstal festival; Diaspora engagement (search for similar items in EconPapers)
Date: 2026
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-032-12355-8_3

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DOI: 10.1007/978-3-032-12355-8_3

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