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Friday, March 29, 2024

100 million investment to improve Balearics’ mature tourism zones

The budget of the Ministry of Reyes Maroto includes a line item for "tourism resilience initiatives" in the Balearics, which will be distributed over three years

The change of the tourist model is one of the Ministry of Industry, Trade, and Tourism’s top priorities. According to the General State Budget 2022, the department of Reyes Maroto included a 100 million provision specifically for the redevelopment of the Balearic Islands destination. It will be phased in over a three-year period.

The Ministry announced its plans for the coming year this week. And for the Balearic Islands, the Canary Islands, and the autonomous towns of Ceuta and Melilla, these funds will be allocated under what are being dubbed “tourist resilience programs.” For 2022, a total of 110 million has been budgeted for the four destinations.

The Ministry of Industry, Trade, and Tourism’s entire budget is 1,974 million euros, 36.3 percent more than in 2021, according to a press statement. 743 million will be allocated to tourism sustainability plans in destinations. Another 34 million will be used to establish the Integral Tourism Sustainability System, 300 million will be used to maintain and restore historic real estate, 170 million will be used to finance circular economy projects, 49 million will be used to develop tourism products, and 12 million will be used to develop social sustainability plans.

Along with the archipelago, the Canary Islands, Ceuta and Melilla will receive specific funds from the central government for their conversion

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Another item of 45 million will go to artificial intelligence projects applied to tourism and 115 million for the so-called Digital Transformation Plan in destinations. And Turespaña will have 66 million for promotion abroad.

For the full article, please visit Diario de Ibiza website here.

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