Support to enterprises registered under the Tourism Act as a tour operator or travel agent to overcome the economic consequences of the COVID-19 pandemic

The spread of COVID-19 in 2020 is applying unprecedented pressure on the EU tourism ecosystem and the tourism companies are facing a serious liquidity crisis. The income loss of the tour operators and travel agencies reached 85% at European level in the middle of this year compared to the same period last year. Nationwide, the spread of social economical consequences of the pandemic affected in the field of tourism and related services. The tourism companies are facing a significant risk of deepening the observed tendency to cease their activities. In this context, there is an urgent need to take national measures to provide support to SMEs as tour operators and tour agencies. The measures should provide the companies working capital for activities needed to overcome the lack of funds because of COVID- 19 effects as a way to ensure their stability, sustainability and employment. Among the target groups are SMEs registered under the Law on Tourism, operating as tour operators and tour agencies and developing their main economic activity in one of the following sectors, according to / NACE.BG-2008 /: 79.11; 79.12. The project proposal and its activities under this procedure are in comply with the principle of efficiency and effectiveness. The foreseen activities guarantee the achievement of the objectives of OPIC and the specific objectives and results of Investment Priority 2.2. "SME Growth Capacity" of PO 2 "Entrepreneurship and SME Growth Capacity", with the most adequate ratio between expected costs and benefits. As a result of the implementation of the planned activities under this project, the expected positive effect is the development of Bulgarian tourism SMEs by providing support to SMEs registered under the Law on Tourism and operating as TO and TA, for activities necessary to overcome the shortage of funds or the lack of liquidity resulting from the epidemic outbreak of COVID-19.

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