Why is it relevant to tourism?
The tourism sector came under unprecedented pressure during the COVID-19 pandemic. The impact was especially challenging for SMEs and family businesses. The InvestEU programme promotes investments to strengthen tourism’s competitiveness, sustainability, and value chains. It facilitates sustainable, innovative and digital measures which could help reduce the sector’s climate and environmental footprint.
Tourism funding criteria
N/A
Programme
InvestEU brings several EU financial instruments together under one roof. The programme aims to support viable investments to help the EU in its economic recovery from COVID-19.
The guarantee under InvestEU amounts to €26.2 billion and aims to raise more than €372 billion in additional investments before 2027 through private funding. InvestEU is managed indirectly, which means that the Commission will negotiate mandates with financial partners to deploy the available EU guarantees. The European Investment Bank (EIB) is the main financial partner and is expected to deliver on 75% of the EU guarantee.
InvestEU comprises the InvestEU Fund, the InvestEUAdvisory Hub, which provides technical support and assistance for projects, and the InvestEU Portal, which provides a database of investment opportunities available in the EU.
As a policy-driven programme, the InvestEU Fund is also market-based and demand-led. Investments are managed and implemented in 4 categories
- Sustainable infrastructure (including cultural heritage and tourism projects)
- Research, innovation and digitalisation
- SMEs
- Social investment and skills
Additional information
Examples of supported projects
Project Title: Argentina Residenza (loan from the Banca del Mezzogiorno – MedioCredito Centrale, Italy)
Hospitality Sector
Description: As part of a recent renovation of the Argentina Residenza Style Hotel, EU funding contributed to the construction of a new wing. A multi-purpose room was built to both act as a lounge and for breakfast to be served. New multimedia and hardware were also installed there. In addition, and 3 new suites with circular whirlpool baths were added. These renovations even created jobs, as the team expanded with 5 new employees.
EU contribution: N/A (loan)
Level of EU funding: N/A
Project Title: Il Mondo di Bua (loan from the Banca del Mezzogiorno, Italy)
Food and Drink
Description: The owner of the restaurant Il Mondo di Bua decided to restructure the building’s electrical, hydraulic and heating infrastructure, as energy consumption was the largest expense. With EU funding, Il Mondo di Bua replaced the traditional lamps with LED lighting, installed a photovoltaic system (solar cells) for electricity, and introduced a more energy-efficient oven and multi-fuel boiler. These changes allowed for higher energy and environmental efficiency. The company now saves approximately €60,000 in energy costs and 34,000 kg in CO² emissions per year.
EU contribution: N/A (loan)
Level of EU funding: N/A
Database of examples
Not available yet