The government has unveiled a new tourism strategy, aimed at garnering up to €5bn from 10 million overseas visitors by 2025.

The strategy also hopes to add an extra 50,000 jobs in the next ten years.

It says the 9% VAT rate for the sector will remain in place as long as it remains cost-competitive.

A tourism action plan for the next three years is also to be drawn up, with the government looking at a possible repeat of 'The Gathering' initiative.

The new policy, entitled 'People, Place and Policy - Growing Tourism to 2025', sets out a range of objectives that could see employment in the sector rise to 250,000.

It also hopes to see revenue from overseas tourism to grow to €5bn per year in 2025 from €3.5bn in 2014.

Tourism Minister Paschal Donohoe says it will be a challenge to achieve what has been set out.