Ministry of Industry, Energy and Tourism earmarks 23 million euros for financing internationalisation of innovative tourism projects

The Ministry of Industry, Energy and Tourism is earmarking 23 million euros for financing the internationalisation of innovative tourism projects that help boost export capacity and improve the international positioning of the Spanish tourism sector.

This line of financing - called "Emprendetur Internacionalización" - forms part of a raft of actions included in the National and Integrated Tourism Plan 2012-2015 (Spanish acronym: PNIT) aimed at fostering the internationalisation of the Spanish tourism sector by accessing new markets and expanding those that already exist.

"Emprendetur Internacionalización " was set up to strengthen international expansion processes in the tourism sector and foster the internationalisation of innovative tourism products capable of enhancing the competitiveness and profitability of the Spanish tourism industry at a world level.

Details of this financing

The programme is aimed at legally-incorporated companies in Spain whose exports account for no more than 40% of their turnover at the time of application. Such companies are understood to include any entity with economic activity, regardless of their legal nature and source of financing.

The types of project and actions subject to financing under this line of credit are those aimed at opening up new markets, the export of new products and services, initiatives that offer outstanding competitiveness factors and initiatives that enhance the innovative potential of tourism companies.

This line of credit is aimed at financing various stages within any process of internationalisation undertaken by a company, including: market research and feasibility studies (market studies, purchase of documentation, staffing costs, staff travel expenses), prospecting (consultancy, labour costs, travel, supplies, etc.) and implementation (office rental, labour costs, consultancy, etc.).

The loans will be repayable over five years at a fixed interest rate of 0.95% with a maximum grace period of two years. Up to a maximum of 75% of the fundable cost of the project will be provided up to one million euros, or the accredited net worth of the company at the time of application.

Interested companies have from 9 January until 9 March to file an application.

All information is available at: http://www.minetur.gob.es/PortalAyudas/ and www.innpulsaturismo.es. For any query regarding these lines of credit, please contact innpulsa@segittur.es.