Competitiveness in the tourism industry depends on investment from the government and privat sector, Parliamentary Secretary for Tourism, the Environment and Culture, the Hon. Mario de Marco said this morning, while addressing a seminar on the Grant Scheme for Sustainable Tourism Projects by Enterprises. He stated that government is investing in tourism local product through projects such as capital projects in Valletta, the restoration of cultural heritage sites and investment in infrastructure. The privat sector has an important role and adds value to the tourism product through investments in modern technology, facilities and renovation projects, Dr. de Marco said.

The seminar provided details on the third call for applications under the scheme which partly finances projects in sustainable tourism. Financing ranges from 30% to 50% of the total cost of the project and depends on the size of the enterprise.

Mario de Marco stated that the scheme promotes sustainable tourism as it focuses on the three main aspects of sustainability; economic, environmental and social. Parliamentary Secretary encouraged investment in innovation and the authenticity of our tourism product which he stated are beneficial at a time when tourist spending is increasing. Mario de Marco said that tourist spending in the first eight months, this year, exceeded the same period in 2008 (before the start of the international financial crises), by €27 million. When compared to January-August period in 2009, tourist spending this year increased by €132 million.

Parliamentary Secretary stated that the total investment of the 90 projects, from the first and second call for applications amounted to over €15 million. The total grant allocation for these projects was €7 million. The projects benefited enterprises that work directly or indirectly in the tourism industry.

Enterprises submitting a project proposal must ensure that the proposed activities fall within the following areas:

– Product Upgrade and Investment in Equipment

– Investment in Environmentally Friendly Measures

– Investment in Information and Communication Technology

– Investment in Entrepreneurship

– Investment in Marketing

Hotels, restaurants, language schools, diving schools and sports clubs were amongst the enterprises that have already benefited from the grant scheme.

Permalink: Enterprises grant scheme for sustainable tourism projects