The Ministry of Economy of Greece has announced (in Greek) that Greek small and medium-sized enterprises (SMEs) active in tourism can now draw from additional subsidies. The news came on the heels of an increase in funding to €400 million euros from the current 120 million euros.
Increased interest and investing in aiding tourism-related business has become the vehicle for boosting employment and economic activity and stimulate related professions. The ministry now says subsidies for SMEs will start at 25,000 euros and can reach 400,000 euros. So far, almost 7,300 investment plans have been submitted to the ministry via the NSRF (National Strategic Reference Framework) 2014-2020 program – titled “Strengthening the Establishment and Operation of New Small and Medium-sized Enterprises” – applying for 1.127 million euros in funding.
The ministry underlined in a statement that the increase, as well as the successful implementation of the funding program, is demonstrated by the fact that 920 million euros of the total 1.127 million euros in private funds, is not from bank lending.
Eligible projects include hotel ventures – 3-star or more with a capacity of 10 to 50 beds, accommodation facilities in traditional buildings, camp grounds (3-star or more), and youth hostels as well as furnished homes, furnished rooms or apartments (3-keys or more) with a minimum capacity of 10 beds, tourist offices, and alternative forms of tourism.