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Greece to support tourism business with €350 million support for seasonal reopening

The Greek government has announced a subsidy of € 350 million to support their re-opening for the 2021 tourism season. This support will be extended through the Greek Ministry of Development and Investment, financed through the Competitiveness-Entrepreneurship-Innovation support programme of EU funds.

Athens, Greece: 02 June 2021

The Greek tourism business has been adversely affected by the COVID-19 Pandemic. In 2020, tourist arrivals in Greece fell by 76% compared to 2019. While an increase in arrivals is anticipated in 2021, the season opening has been hit by the continuing epidemic in the UK as well as limited arrivals of Russian tourists.

The € 350 million support package will be divided between SMEs and large enterprises as follows:

  • Small and medium size businesses: €300 million.

  • Large businesses: €50 million.

Greek tourism companies eligible for participation include:

  • Hotels and tourism accommodation;

  • Tourist offices and agencies;

  • Tourist bus companies.

The criteria for participation include:

  • Legal operation;

  • Substantial activity;

  • Reduction of annual turnover 2020 in relation to 2019 (greater than or equal to 30%);

  • Staff employed in 2019 at least equal with one full-time equivalent staff member;

  • Obligation to submit VAT returns.

The applications will be submitted to the State Aid Information System (PSE) of the Ministry of Development and Investment at . Applications can be submitted starting in June until 30th September 2021. The grant will be available immediately after the approval of the application.

Navigator Consulting supports tourism investments in Greece and has extensive experience in due diligence on tourism and property investments.


1 June 2021

Kathimerini. 02 June 2021

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