Opening Bell: New jobs for Galway, Web Summit hits Lisbon, Ryanair gets even more ambitious

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Ireland is over 18% more expensive for the British tourist since the Brexit referendum, according to Tourism Ireland.

More than 70 tourist businesses are in London today for the World Travel Market, seeking to drum up trade for the coming year.

Chief Executive of Tourism Ireland, Niall Gibbons, says value for money will be the watchword for 2017, as well as ease of access to Ireland:

"It's important that we stress the ease of getting to Ireland from the UK. Remember, there's over eight airlines and three ferry operators, operating about 240,000 seats every single week during the summer months. We still see the air and sea access picture as being very, very positive.

"But it's important to stress as well that Ireland is a great destination from the perspective of taking a holiday and it's important that Ireland is at the forefront of the British consumer's mind."

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Ryanair has reported a profit increase of 7% to €1.17 billion in the six months to the end of September, as it initiates another share buyback to help ease investor sentiment after sterling's slump caused the airline to issue a profit warning last month.

The €550 million euro share-repurchase programme will be carried out in February 2017.

Net profit for July to September climbed to €912 million, up from €843.1m for the same period in 2015.

The low fares carrier also hiked its long-term growth forecast by 10%, saying that it expects to carry 200 million passengers per year by 2024.

Ryanair currently carries 119 million people annually, making it Europe's largest carrier.

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Aviva has announced it is to create 50 new jobs in its general insurance business in Galway.

The new roles which will be filled before year end will be in the contact centre, the claims handling team and in the insurer’s new digital hub.

Aviva already has 300 employees working out of its offices in Knocknacarra and today’s announcement will bring to 85 the number of new roles created in 2016.

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Web Summit 2016 gets underway today in Lisbon, with some 53,000 people expected to attend.

This year is the first time the event has been held outside of Dublin after it was announced that the summit would move to the Portugese capital for at least three years.

Web Summit co-founder and CEO Paddy Cosgrave will make his opening remarks at 6pm this evening, before handing over to the Portuguese prime minister António Costa, who will discuss the partnership between the country and the tech event.