Spain Pledges $809 Million Package to Bolster Tourism Industry
(Bloomberg) -- Spain announced a 720 million-euro ($809 million) package to help revamp the tourism industry after it was hit hard by the pandemic.
The funds will go to support a strategic sector, which accounts for 12% of economic output, Tourism Minister Reyes Maroto said at a news conference after a cabinet meeting in Madrid.
The funding includes 565 million euros to finance innovative projects that seek to make tourism more competitive through greater use of digital technologies, energy efficiency and sustainable practices. Separately, regions will get subsidies to maintain historical heritage sites such as the Camino de Santiago long-distance pilgrim’s route in Galicia.
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