Greece Accepting Applications for Tourism Investments

Photo source: www.nikospapathanasis.gr

The Greek Development & Investments Ministry announced recently that the application process for a new round of tourism investment support would be opening on September 5.

Deputy Development & Investments Minister Nikos Papathanasis said the funding program dubbed “Enhancing Tourism Investments” was open to all tourism-related businesses and the deadline for submissions was December 5, 2022.

Minimum investment costs eligible for support are:

– 1,000,000 euros for large companies
– 500,000 euros for medium-sized enterprises
– 250,000 euros for small businesses
– 100,000 euros for very small businesses
– 50,000 euros for Social Cooperative Enterprises, Agricultural Cooperatives, Urban Cooperatives, Producer Groups and Agricultural Partnerships.

Interested parties can apply here as of September 5.

“The second scheme for the enhancement of tourism investments is aimed at a sector of vital importance for the Greek economy. With the new Development Law as a tool, we are creating a modern investment model that will make Greece more competitive in attracting new investments, contributing decisively to a stronger economy and to the creation of more and better jobs,” said Development & Investments Minister Adonis Georgiadis.

Passed in parliament earlier this year, the “Development Law: Greece – Powerful Growth” foresees aid in the form of tax breaks, subsidies, leasing subsidies, job creation subsidies, and business risk financing for startups in several tourism-related areas.