Greece to Launch New Round of Funding for Tourism Businesses

Tourism business owners in Greece will have the chance to access a total of 160 million euros in EU funding as part of a new round of support, to be announced in the coming period.

Funding will be allocated to eligible parties for sustainability goals.

The aim of the new “NSRF – Competitiveness 2021-2027” program is to support small and medium-sized enterprises (SMEs), to stimulate investment activity and to create new jobs.

Initially set to open in November, the program will subsidize eligible tourism business investments starting at 80,000 euros up to 400,000 euros. These may include the creation of hotels, campgrounds, and accommodation facilities.

Funding concerns new very small, small and medium-sized tourism enterprises that have not been in operation for more than 12 months.

Implementation of the approved projects must be completed within 24 months.

Eligible for funding are investment plans that concern hotel units (at least 4 stars and over 12 beds); tourist accommodation facilities inside traditional buildings; organized campgrounds (at least 3 stars and above); accommodation facilities (at least three units) or furnished vacation homes: furnished rooms for rent or apartments (at least 4 keys and above with a minimum capacity of 12 beds); tourism agencies and other tourism-related activities.

Eligible expenses include construction, facilities, and environment-related actions, machinery, digital equipment and software, supplies, business start-up support, advertising and outreach, technical studies, consulting services, means of transport, and select indirect costs.

Further information on the funding should be available on websites: www.antagonistikotita.gr, www.espa.gr and www.efepae.gr.