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It defined many a family holiday for generations - now a £700,000 grant is set to breathe new life into the old Butlins site in Barry as part of a £3.3m regeneration project for the town.
Closed shops will be revamped and the Butlins site made into an events arena and car park until an investor can be found.
The investment comes during Wales Tourism Week, as those in the industry call for more effort to be put into raising Wales' holiday profile abroad.
The tourism sector currently employs more than 10% of the Welsh workforce - as our Business Correspondent Carole Green reports.
The Minister for Regeneration says 'new life' could be breathed into Barry Island as a tourist destination.
Huw Lewis AM said: "The way people spend their time and money is different from the 1960s and 70s, but people are still looking for a quality day out. Barry has a fine beach... we need to make sure the facilities are here to match the natural environment."
The first tranch of a £3.3m investment from the Welsh Government has been announced, focusing on Barry Island.
The money will be used to regenerate the eastern half of the seafront and the old Butlins site.
The announcement of funding to help regenerate Barry Island comes in Tourism Week, with the industry campaigning to highlight the impact they have on Welsh economy. Nearly 10% of all jobs in Wales are in the tourism sector and it's worth an estimated £6.18 billion.
The Welsh government is announcing funding of £692,000 to start the regeneration of Barry Island. At the former Butlins site a space will be created to host local events and a temporary car park will be built. Some money will also be used for designing further improvements to the holiday resort.