The Council of Ministers has approved the new decree-law on the Recovery Plan with the measures to accelerate and simplify the implementation of the National Recovery and Resilience Plan. The 'Tourism Package' amounts to a total of 2.4 billion. To be operational, the scheme needs a regulatory component (the one contained in the Decree Law approved on 27 October) and a part that will be introduced through administrative acts.
What the Tourism Package envisages: tax credit and digitalisation bonus
The bulk of the intervention concerns the long-awaited 80% ecobonus: a tax credit (to be used for compensation or transferable) for expenses incurred for the improvement of accommodation facilities (energy efficiency, anti-seismic upgrading, elimination of architectural barriers, swimming pools and spa equipment, digitalisation).
The contribution can increase by a further 30,000 euros if at least 15% of the work involves digitisation and technological innovation of the facilities; by a further 20,000 euros for women's businesses or businesses run by young people; and by 10,000 euros for businesses in southern Italy. The maximum limit of the non-repayable fund (disbursed once the work has been completed or with an advance of 30% in the case of a bank guarantee) remains €100,000 and in any case no more than 50% of the costs incurred for the intervention.
The decree also provides for the creation of a "Special Tourism Section" in the Guarantee Fund for SMEs (358 million by 2025) to support loans of up to 5 million for tourism activities. The Fund for investments in the tourism sector has also been created, for direct contributions equal to 35% of expenditure for energy requalification, environmental sustainability and digital innovation measures of between 500,000 and 10 million euro, to be carried out by the end of 2025.
For the portion of expenditure not covered by the Fund, subsidised loans are envisaged over 15 years from the Revolving Fund for business support and research investments. Finally, there is also a very interesting 50% tax credit for the digital development of agencies and tour operators.
How the available budget will be divided up
As anticipated, the overall budget for tourism is 2.4 billion, which should be divided as follows:
· 1.7 billion goes to the National Tourism Fund, which includes six different interventions:
o 500 million: tax credit (80%) and non-repayable fund for tourism businesses;
o 98 million: to support the digitalisation of travel agencies and tour operators;
o 500 million: to set up a fund with the participation of the MEF and the EIB for the modernisation of accommodation facilities, measures for mountain areas, and the development of new tourist routes;
o 358 million: to set up a Guarantee Fund to support the entrepreneurial fabric and develop new professional skills;
o 180 million: non-repayable fund and activation of a revolving Cdp fund for the modernisation of facilities, elimination of architectural barriers, environmental requalification;
o 150 million: for the National Fund for Tourism, managed with Cdp, to strengthen structures and develop real estate assets.
The various initiatives will be able to take advantage of financial leverage to expand economic support for operators and thus broaden the range of beneficiaries:
· 114 million to activate the Digital Tourism hub, i.e. a digital platform to aggregate the national tourism offer online;
· 500 million for the Caput Mundi project, i.e. measures to support tourism in view of the Jubilee.
The measure is welcomed by both Federalberghi and the Italian Hotel Industry Association. Both appreciate the work of the government and Minister Garavagli to support businesses and the development of the sector. We would like to add a very favourable opinion, especially with regard to the investment in the digitalisation of the sector - a concept in which we strongly believe. If you would like to discover an innovative, all-Italian project in the Hospitality and Proptech sector, we invite you to visit the Ciaobooking fundraising page, accessible from our Home Page.