Incentive Scheme for the Upgrade of Hotels and Tourist Accommodations in Rural, Mountainous and Remote Areas to Modernize and Improve the Competitiveness of the Tourism Product – Call 2023
Summary
The third Policy Axis aims to improve the competitiveness and resilience of the Cypriot economy. In addition to the other axes, it includes measures that contribute to the promotion of a new model of development and international competitiveness of the Cypriot economy, based on the results of the relevant study of the Cyprus Economy and Competitiveness Council.
Includes investments and reforms to expand the productive base by strengthening the primary and secondary sectors of the economy, improving competitiveness and the business environment, mainly by supporting small and medium-sized enterprises (SMEs), diversifying and strengthening the tourism product, modernizing public administration and local authorities, reform and improve the efficiency of the judiciary, fight corruption and enhance transparency, enhance research and innovation, and the resilience of the financial sector and the financial situation.
Programme Name
Programme Description
The third Policy Axis aims to improve the competitiveness and resilience of the Cypriot economy. In addition to the other axes, it includes measures that contribute to the promotion of a new model of development and international competitiveness of the Cypriot economy, based on the results of the relevant study of the Cyprus Economy and Competitiveness Council.
Includes investments and reforms to expand the productive base by strengthening the primary and secondary sectors of the economy, improving competitiveness and the business environment, mainly by supporting small and medium-sized enterprises (SMEs), diversifying and strengthening the tourism product, modernizing public administration and local authorities, reform and improve the efficiency of the judiciary, fight corruption and enhance transparency, enhance research and innovation, and the resilience of the financial sector and the financial situation.
Call
Detailed Call Description
Objectives of the Scheme:
The aim of the Scheme is to support investments in hotel and tourist accommodation businesses in mountainous, rural and remote areas, for:
(a) the enrichment, modernization and upgrading of the quality of the products and services provided,
(b) the creation of new products and services related to alternative forms of tourism and addressing specialized seasonal needs and peculiarities,
(c) the modernization of services through digital upgrading
Eligible Costs:
- Renovations and Other Interior and Exterior Works
- Special installations and systems
- Machinery, furniture and equipment
- Information and Communication Technologies
- Consultant and Expert Fees
- Expenditure directly related to the terms of Community co-financing
- Consumables
State aid will be granted based on Commission Regulation (EU) No 1407/2013 of 18 December 2013 on the application of Articles 107 and 108 of the Treaty on the Functioning of the European Union to de minimis aid and/or the General Block Exemption Regulation (GBER).
Financing percentage by EU or other bodies / Level of Subsidy or Loan
De Minimis: From 50% to 75%
GBER: 10% to 50%
Eligibility For Participation Notes
Natural or legal persons, who are the entrepreneur of the hotel or tourist accommodation for which the Application is made.
Programme Category
Cyprus Recovery And Resilience PlanTotal Budget
€4.700.000Thematic Categories
- Small-Medium Enterprises and Competitiveness
- Tourism
Eligibility for Participation
- Legal Entities
- Natual person / Citizen / Individual
- Other Beneficiaries
Call Opening Date
14/02/2023Call Closing Date
01/12/2023National Contact Point(s)
Deputy Ministry of Tourism
Contact Person:
Annita Pafiti
Tourism Officer
Τelephone: 22691124
Email: AnnaPafiti@visitcyprus.com