Commission approves Greek tourism support package

The European Commission today gave the “Green light” for the support program that will strengthen tourism businesses.

At the same time, Prime Minister Kyriakos Mitsotakis will have a meeting today at 14:00 with representatives of tourism companies, on the subject of the announcement of the government’s plan for the implementation of a special state aid regime.

This will take the form of a working capital grant to cover operating expenses during the first months of their restart.

The total amount of aid to be given to companies amounts to 425 million euros, of which 350 will come from the NSRF and 75 million euros from the Public Investment Program.

According to information, the amount of aid will correspond to 5% of the turnover of 2019, while the maximum amount of support has been set at 400,000 euros per VAT number.

A necessary condition for joining this action is the reduction of the turnover recorded by each company in 2020 is greater than or equal to 30% of the corresponding turnover of 2019, while each company in 2019 is required to employ at least one employee for 12 months.