Greek Gov’t to Issue Invitation for Tourism Subsidies in Coming Months

The Greek government said it plans in the coming months to issue an invitation to all SMEs involved with tourism to apply for subsides amounting to 120 million euros in efforts to foster SMEs and entrepreneurship development.

Eligible parties must provide an investment plan for the implementation of a new SME in tourism which will be funded as will its operation for up to six months from its launch.

Investment projects foreseeing the completion of accommodation facilities at an advanced stage of construction but not completed and in operation due to difficulties resulting from the economic crisis also qualify for funding.

The invitation comes under the “Support for the Establishment and Operation of SMEs in Tourism” program, which will focus on subsidizing accommodation units offering quality services while diversifying the region’s tourism product.

Selected ventures will qualify for a total budget of 80,000-400,000 euros, with aid to cover 40 percent of the total investment and 50 percent if it additionally includes wage costs.