Tourism subsidy scheme extended

The subsidy scheme accommodation facilities and restaurants has been extended to include self-catering premises, the government said today.

The scheme has been open for submissions since June 2009. It originally targeted restaurants, hotels, hostels, aparthotels and guesthouses, but it now also applies to holiday premises and farmhouses licensed for tourist purposes by the MTA.

€3 million were allocated for this Scheme, spread over 10 years. The scheme subsidises a percentage of the interest rate on loans sourced by banks for the purposes of refurbishment and extension projects.

The decision to include self-catering premises in the Scheme was taken to address a particular sector whose market share in 2008 was 10.7% - an increase of 5.3% over 2007, the government said.

In Gozo, the number of beds available in self-catering premises, consisting mainly of restored farmhouses, exceeds the number of beds available in hotels.

The call is open until all funds are exhausted.