Tourism is one of the sectors that’s been most affected by the coronavirus, so the government is helping tourism businesses with several options for funding, said Mihály Varga, Ministry of Finance.
Varga outlined one economic protection measure that will support the development and expansion of accommodations via a budget of HUF 2 billion for hotels in Pest County.
Due to EU regulations, Pest County receives less EU development funds compared to similarly developed counties in Hungary, so the government is stepping in to provide a total of HUF 80 billion in support for development until 2021.
This particular tender aims to support the development of hotels in order to raise the standard of accommodation establishments in the area, expand their capacity, and develop services that improve utilization and profitability, the minister explained.
The tender places great emphasis on increasing the number of guests and guest nights as well as on reducing the disparities due to seasonality.
Those interested can apply for grants worth between HUF 60 million and HUF 300 million, with the option of using the funding to raise the standard of a hotel’s services and develop its infrastructures or to improve an accommodation’s operation and efficiency.
Enterprise owners can submit their applications for the call entitled “Development of Hotels in Pest County” on www.allamkincstar.gov.hu starting on August 25, 2020.