MEASURES TO SUPPORT THE TOURISM SECTOR MITIGATING THE IMPACT OF COVID 19

A B C D E F G H I J K L M N O P Q R S T U V Y Z

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SPAIN

Last update 30.03.2020

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I. FISCAL POLICY

Delay up to 30K tax payment during six months for SMEs and self-employed and delay in mortgage payments, easing social security contributions and allowances for employees caring for dependent relatives.

Creation of €200 billion fund, equivalent to 20% of GDP (half of the money is tied to a public guarantee scheme to ensure liquidity for struggling businesses).

The aid package revolves around four main guidelines: easing the conditions of the temporary collective layoffs (known as ERTEs in Spain), supporting workers and businesses affected by the slump in activity, guaranteeing liquidity for businesses, and supporting research to find a coronavirus vaccine.

II. MONETARY POLICY

Special credit line provided for Thomas Cook crisis is enlarged (additional 200 mn euros) and extended to all the companies and self-employed workers included in the economic sectors defined by law.

Special credit line provided for Thomas Cook crisis is enlarged (additional 200 mn euros) and extended to all the companies and self-employed workers included in the economic sectors defined by law.

New spending commitment limits are authorized and extended guarantees will apply.

III. JOBS & SKILLS

Measures to support the extension of the period of activity of workers with discontinuous permanent contracts in the tourism and commerce and hospitality sectors linked to tourism.

50% bonus in Social Security contributions for tourism companies and tourism related business (commerce and hospitality) who start or keep the occupation of workers with discontinuous fixed-term contracts between February and June.

IV. MARKET INTELLIGENCE

 

V. PUBLIC-PRIVATE PARTNERSHIPS

 

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