Support for Tourism Investments

The objective of the aid scheme 

The purpose of this scheme is to grant aid for a wide range of tourism investments, mainly for the creation, expansion and modernization of integrated tourist accommodations throughout the country, leading to quality improvement of the touristic product. 

Eligible investment projects 

1. Establishment or extension of at least 4 stars hotel units 
2. Modernization of integrated hotel units belonging to or upgraded to a category of at least 3 stars, after five years have elapsed since the start of the unit’s operation, or since the date of completion of the previous investment in the modernization of the integrated form of the unit. 
3. Expansion and modernization of non-active hotel units, if upgraded to a category of at least 4 stars. 
4. Establishment, expansion and modernization of condo hotels, as defined in Article 4276/2014, provided that the transfer or long-term leasing of the assisted parts of such units takes place after the expiry of the long-term commitments of the investment program. 
5. Establishment and modernization of integrated hotel units within designated traditional or preserved buildings, which belong to or are upgraded into a category of at least 3 stars, 
6. Establishment, extension and modernization of complex touristic accommodation, as defined in Law No. 4276/2014 (A 155), submitted as single projects, not including buildings and facilities that are to be transferred or leased for a long period of time 
7. Establishment, extension and modernization of camping sites of at least 3 stars, 
8. the establishment and modernization of non-main tourist accommodation, provided that:
   • they bear the distinctive title ‘guest house’ 
   • are located in traditional settlements in one of the following areas: 
   • mountainous areas, according to the classification of Hellenic Statistical Authority, outside the municipalities that form part of the urban complex of Athens 
   • areas located up to 30 kilometers from the border 
   • islands with a population of less than 3,100 inhabitants 
   • shall be classified in a category of 5 keys, in accordance with Commission Regulation of the Minister of Tourism (No. 12868/2018 (B΄ 3119)) 
   • maintain a minimum number of 20 rental rooms 

Eligible expenditure 

(i) Construction, extension, modernization of buildings, special and ancillary facilities of buildings, constructions to ensure accessibility for people with disabilities, and landscaping. 

(ii) Purchase and installation of new modern machinery and other equipment, including technical installations and means of transport moving within the premises of the integrated unit. 

(iii) Other costs, such as consultancy services, costs for innovation, costs for procedural and organizational innovation for SMEs and Large Enterprises, costs for energy efficiency measures, etc. 

Types, intensity and amounts of aid (Development Law – Tourism) 

*RAM: percentage of aid as per Regional Aid Map

*Maximum amount of aid per investment project: € 5.000.000 

Specific categories of aid 

Special categories of aid are provided for investment projects carried out in the following areas: 

a. Mountainous areas, according to the classification of the Hellenic Statistical Authority, except for the Municipal Units which form part of the urban complex of Athens, 

b. Frontier area, i.e. an area within 30 kilometers of the border 

c. Island region, i.e. islands with a population of less than three thousand one hundred (3,100) inhabitants; and 

d. In buildings designated as preserved buildings 

Evaluation procedure (Development Law – Tourism) 

Applications for eligibility are submitted to the General Directorate for Private Investment of the General Secretariat for Private Investments and Public-Private Partnerships (PPPs) of the Ministry of Development and Investment. 

Applications will be evaluated using comparative evaluation. In this case, a final ranking list will be drawn up, in descending order of merit, following the decisions of the Objections Committee. In the event of a tie, investment projects will be ranked according to the lowest eligible investment cost. 

The evaluation of investment projects shall start from the date of submission of the application and shall be completed, with the result of the evaluation check by the Evaluation Committee within a period of thirty (30) days. The promoter of the investment project may submit an objection within an exclusive period of ten (10) days from: 

A) The posting of the Tentative List on the website https://ependyseis.mindev.gov.gr/en of the General Secretariat for Private Investment and S.D.I.T. of the Ministry of Development and Investment; or 

B) The notification of the act issued in cases where the submitted application is rejected during the legality check or of the act issued during the assessment of reasonable costs and the verification of the scoring indicators.