France intends to once again become the world’s leading tourist destination. Traveling in Indre-et-Loire, Saturday, November 20, Prime Minister Jean Castex must present a plan to 1.9 billion euros to revive tourism in France. A sector of activity very hard hit by the Covid-19 pandemic.
A 5-year plan. This five-year government tourism investment plan was announced in June by the President of the Republic. It was the subject of a consultation with professionals in the sector and communities Matignon presented the broad outlines on Friday. Most of it will be made up of loans.
Tourism loans. In detail, 750 million euros will take the form of tourism loans, a tool of the public bank Bpifrance, dedicated to SMEs and VSEs in the tourism sector who need to invest in order to modernize.
Stimulus loans. The government will also offer a 500 million euro tourism stimulus loan, long-term loans from the Bank of the Territories, intended to support major investments by businesses or communities. This device, which already existed, has been revised because it was not used until now due to technical difficulties.
New credits. About 650 million euros will take the form of new loans, with a jumble: aid for the most disadvantaged to go on vacation; others to bring exhibitors back to shows and fairs; or even aid to develop responsible tourism.
Innovation, digitization, training. The government wants to support the move upmarket, help the development of infrastructure and transport, encourage innovation and digitization as well as promote heritage. It also intends to improve training and the attractiveness of trades in the sector.
Dissatisfaction of professionals with loans guaranteed by the State. Professionals in the sector wanted as a priority that the plan provides for a staggering of the repayment of loans guaranteed by the State (PGE), over 10 to 12 years, against four years currently. The Minister of the Economy seemed to close the door on Tuesday. Bruno Le Maire, however, promised that no company would go out of business, due to its inability to repay an EMP.