Turismo de Portugal pays €70 million to tourism companies

Thursday, December 29, 2022

Turismo de Portugal has today paid more than 22,800 companies a total of 70 million euros under the Support Tourism measure.

The office of the Minister of Economy and the Sea recalls that the deadline for requesting financial support ended on December 22nd and that, given the “high registered demand” and the budget allocation for the measure, each of the companies received an increase of around 12.5% compared to the values already received in the Support Program.

With the Support Tourism measure, aimed at accommodation, catering, and similar other tourist activities, the executive intended to reinforce support for tourism companies that, due to having suffered strongly from the impacts of the COVID-19 pandemic, were the object of support within the scope of the Apoiar Programme, bearing in mind the effects of inflation, increased energy costs and the context of the war in Europe.

The payment, even before the end of the year, of the support provided for in the ‘Support Tourism’ measure reflects the fulfilment of a commitment assumed by the Government at the beginning of this month and allows to reinforce, by 70 million euros, the financial resources of more than 22,800 companies in the tourism sector, to meet growing cash needs, resulting, in particular, from the increase in costs resulting from the current global macroeconomic context, says Nuno Fazenda.

The Support Tourism Measure, part of the APOIAR Programme, is part of the Medium-Term Agreement for the Improvement of Income, Salaries, and Competitiveness, signed, on the 9th of October, by the Government and the social partners.

« Back to Page