Tourism fund aims to build industry’s resiliency
Tourism businesses received welcome news on Monday as the federal Minister of Economic Development and Official Languages, Mélanie Joly, announced the $500-million Tourism Relief Fund. The program aims to help businesses and organizations make their products and services more resilient from future shocks.
Money can be used for adapting to new regulations, modernizing products and encouraging environmentally sustainable and inclusive practices. As well, the funds can aid with strategic planning that helps with destination development. The funds are not available for restaurants, retailers or hotel chains.
Eligible applicants can receive up to $100,000 in non-repayable contributions for 50% of eligible costs, or up to to $500,000 in repayable contributions for up to 75% of eligible costs.
Money can be used for adapting to new regulations, modernizing products and encouraging environmentally sustainable and inclusive practices. As well, the funds can aid with strategic planning that helps with destination development. The funds are not available for restaurants, retailers or hotel chains.
Eligible applicants can receive up to $100,000 in non-repayable contributions for 50% of eligible costs, or up to to $500,000 in repayable contributions for up to 75% of eligible costs.
