The European Commission has approved a €15 million support scheme for Ireland-based, inbound-tourism agents affected by the coronavirus outbreak.
The money will come from the exchequer after the EU approved the state aid saying it was compatible with the EU’s “Temporary Framework” response to the pandemic.
Payments will be made directly to those businesses affected, based on their average inbound tourism revenue for the period from 2017 to 2019.
The aid will not exceed either the revenue lost from the eligible inbound business for 2020, or the average operating costs for the eligible inbound business over 2017-2019, excluding payroll costs.
The purpose of the scheme is to mitigate sudden liquidity shortages being faced by those companies which are affected.
The support will not exceed €800,000 per company and will be granted no later than 30th June, 2021.
The commission concluded that the measure is necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a member state.
