INTERES Invest in Spain

The new Spanish Tourism Plan “Horizon 2020” recently came into force and began to be applied under the Spanish Tourism Plan 2008-2012.

The objectives of the Spanish Tourism Plan “Horizon 2020” are, inter alia (i) to increase the social and economic benefits of tourism; (ii) to achieve a social/territorial rebalance which boosts the tourist business at new destinations; and (iii) to improve the quality of the national and cultural environment by reducing the potentially negative impact of the tourist business.

Please also note the ICO Line Tourism, aimed at providing financial support for investment projects whose purpose is the integral renovation and modernization of mature tourist destinations, developed and executed at the initiative of the local authorities. Although the term of this Line has expired, the 2008 General State Budgets Law enables the ICO to establish a financing line available to private tourist enterprises participating in the initiative to modernize mature tourist destinations already regulated in the 2007 State Budgets Law.

Additionally, the 2008 General State Budgets Law also admits the possibility of providing financial support for projects aimed at the modernization of mature tourist destinations with a charge to the State Finance Fund for the Modernization of Tourist Infrastructures (Fondo Financiero del Estado para la Modernización de las Infrastructuras Turísticas or FOMIT) managed by the ICO.

For more information on Investment aid & incentives, you can download the following document: