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Secretary Of State For Tourism Announces New €25-Million Fund For Rural Areas

10 May 2018

At a hearing of the Economy Committee, Ana Mendes Godinho emphasised that 67% of tourism growth was generated in the low season, reaching all regions of the country, even those with lower densities.

The Secretary of State for Tourism, Ana Mendes Godinho, announced today in Parliament the creation of a fund with a total budget of €25 million, which will be used in the development of new tourism projects in lower density regions.

Secretary Godinho emphasised that 67% of the growth in overnight stays is being generated in the low season. The Secretary also drew attention to the 2,732 tourist projects that have been approved and the 74,000 new jobs that have been generated in the sector since 2016, during an appearance at the Economy, Innovation and Public Works Commission to debate the policies for the sector.

New Fund Foresees 20 New Tourism Investments In Low-Density Regions

The fund, announced by the Secretary of State for Tourism in Parliament, aims to support entrepreneurs’ efforts to acquire public assets, which are managed by Turismo Fundos, for tourism-based activities in low-density areas.

In practice, anyone who wants to operate a rural tourism house can place it in this real estate fund, which buys it, and charges the operator rent, during a period that can reach fifteen years. At the end of the set period, the operator may repurchase the property, if desired.

There are currently 43 investments in tourism projects in the lower density regions, and the new fund is expected to add another 20.

Original Story: Expresso – Conceição Antunes

Translation: Richard Turner