The aim of this paper is to review and highlight the key developments in the Northern Ireland tourism industry during the 18-month-old terrorist ceasefires. The paper focuses on peace as a key ingredient in providing business confidence for indigenous entrepreneurs to contribute to the regeneration of the Northern Ireland tourism industry. The paper emphasises the importance of the role of the domestic investor in contributing to the development and enhancement of the tourism product, but contends that as a consequence of the ending of the PIRA ceasefire such investment is likely to remain on hold.