These parties are set to become popular over the next 12 months as people blow five years of savings and government top-ups.

"The money earned from their SSIA will not have been saved for any particular reason, so they might choose to blow it all on a party, " said Joanne Byrne from event management company Presence Communications.

"There is a whole celebrity party culture evident in magazines at the moment, whether it be Jordan's pink wedding or Posh and Becks' forthcoming World Cup party. A lot of Irish people might choose to replicate this by throwing the mother of all bashes."

Galway entrepreneurs Barry Battle and Keith O'Dowd of Home Kegs are expecting an SSIA sales boom. Battle and O'Dowd have been delivering kegs of beer and setting up bars and marquees in people's homes for over a year now and they say SSIA parties are set to hit the west coast.

"We have four or five SSIA parties booked for the beginning of June, and they look set to be popular for the rest of the summer across the west of Ireland, " said O'Dowd.

Kieran Curtin of Brew Crew, which supplies home bar facilities in the Dublin area, said:

"We expect that by June and July, when people have spent some of their SSIA money and have a bit left over, that they will decide to splash out the remainder on a party."

The Unique Dining Experience has catered for film premieres, fashion shows, car launches, and celebrity weddings. Managing director Aidan Chadwick expects to see a surge of interest in coming months.

"Without doubt we expect to see a lot of people coming to us to book parties when they get their SSIA windfall, " he said.