According to the information provided by the ICO in its biweekly monitoring report, with data updated as of July 31, 2020, 111,080 companies in the tourism, leisure and culture sector have received 14,445.4 million euros in financing thanks to the Guarantee Line of the State that the Government approved on March 17 to help them cope with the social and economic impact caused by COVID-19, facilitating their access to credit and liquidity.
The Secretary of State for Tourism, Fernando Valdés, stressed that “despite the difficult times the sector is going through, these data confirm that the Government is making available to tourism companies tools that are being effective in minimizing the impact of the pandemic; tourism companies have an exclusive sub-section of 2,500 million euros included in the Impulse Plan for the tourism sector approved a few weeks ago, which highlights the importance that the Government gives to the sector ”.
With data updated as of July 31, 2020, the operations of the sub-section for Tourism and related activities specific to SMEs and Self-Employed, approved on June 16 by the Council of Ministers, have reached 7,637 operations and a total financing of 354.6 million euros. Hotels, accommodation, campsites, restaurants and companies dedicated to leisure and entertainment are among the beneficiaries of the credits, whose objective is that they can continue to maintain the activity and the jobs they generate.
The Tourism and Leisure sector leads the number of operations requested from ICO (144,380), followed by Construction and Infrastructure (79,816); Business, Professional and Administrative Services (68,132); Consumer Goods and Retail (66,452); Capital and Industrial Goods (49,906) and Commercial Distribution of Food and Beverages (48,879).
