Hotels of the leading tourist countries will recieve state support

Hotel in Egypt
Hotel in Egypt
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The world financial crisis has affected the plans of many tourist countries. Such countries as Egypt, Turkey, France were forced to revise their policy in the filed of tourism support. The hotel industry in many countries, which are considered to be popular tourist destinations, receives funding from the sate budget, as well as numerous tax benefits.

Thus, the support program for hotels in Egypt has already been approved. The program is scheduled for one year, but it is anticipated that it will be reviewed every three months, taking into account changes in state of the world market. According to the new program, Egyptian hotels will be exempted from the participation in the financing of the advertisement company of the country. Previously it was expected to present Egyptian resorts in the form of exclusive and unique proposals, aimed at wealthy tourists. Now Egyptian hotels as well as the country itself will be positioned as a region of affordable recreation. In general, the support program for Egyptian hotels and the rest of tourist sector provides assistance in the amount of over 1 billion dollars.

Hotels of Turkey - the other Asian tourist <<giant>> - also intend to appeal for support of their government. The Federation of Turkish Hotels TUROFED, which represents the country's hotel industry, has asked the government to take anti-crisis measures in order to rescue the country's hospitality industry. According to the Turkish hotel owners, the amount of assistance for their hotels must be at least 400 million euros. Representatives of the federation support the creation of a special stabilization fund for the industry and the bank, which will allow the most efficient and quick delivery of assistance to recipients.

Other tourist countries such as Spain and Greece, have already adopted an anti-recessionary package of measures to support hotels and hotel industry. Thus, the government of Spain has allocated aid in the amount of 400 million euros to the tourist industry, Greece subsidizes its tourism with 200 million euros.

Photo: Marc Ryckaert,

Date: 14/01/2009


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