Proposal is part of broader attempt by tourism chiefs to move away from ‘alcohol-led experiences’
The Giant, more than 30 metres tall, is described as a “breathtaking fusion of art, imagination, technology and storytelling”.
A similar giant is expected to be unveiled in Las Vegas this autumn.
Eric Fraad, director of development at the Dublin-based Giant Company, said a Dublin version could be in place within 12 months of the Vegas launch.
“It’s something spectacular and iconic,” he said.
Fraad compared its potential to the London Eye and similar attractions in Singapore and Dubai.
A digital rendering of how The Giant could look
It will cost about €35m, and Fraad said the project was being supported by Irish and international investors.
These include entertainment entrepreneur Paddy Dunning of the Irish Rock’n’Roll Museum and the National Wax Museum.
A feasibility study, carried out by PwC and supported by Dublin City Council and Enterprise Ireland, highlighted the need for “compelling new reasons” to visit the capital.
Statue would support the rejuvenation of the north inner city by increasing footfall
It said the current tourism offering is “too narrow” and “heavily focused on museums, heritage and alcohol-led experiences”, with “limited appeal for families, younger visitors and repeat tourists”.
There is a “clear gap in family-friendly attractions”, and this proposal would help rebalance Dublin away from an over-reliance on pubs and distilleries.
The study examined how the proposal would work in Dublin, and looked at key sites within the city capable of housing The Giant, with George’s Dock in the IFSC identified as a suitable location.
An artist’s impression of how The Giant might look
The study said the statue would support the rejuvenation of the north inner city by increasing footfall, supporting local businesses and creating new jobs and training opportunities.
Smithfield was another potential location, while Dún Laoghaire and Dublin Port were seen as less attractive options.
The surface of the statue would be made up of millions of programmable LED pixels, allowing people to be digitally scanned or mapped on to it. It means well-known people or even visitors could be scanned and displayed on it.
Admission prices are seen as a key revenue driver for the project.
The feasibility assessment assumed prices could be set at about €25 for adults or €20 on average for a ticket when concessions for families, students and pensioners are considered.
The next steps for the proposal will be dependant on the success of its sister project in Las Vegas, the Sunday Independent understands.