In 2021, working in partnership with the banking system, Turismo de Portugal renewed and added 300 million euros to the Offer Qualification Support Line, a financial instrument geared towards supporting companies in the tourism sector. Now, the line's period of operation has been extended to the 31st of December 2025.
The line is set to provide medium and long-term funding for tourism projects, producing:
_ the requalification and repositioning of developments, establishments, and activities, or
_ the creation of developments, establishments and operations implemented in low-density territories, or
_ that affect entrepreneurship on the whole.
The Offer Qualification Support Line presents a set of adjustments based on the current context, such as: increasing the associated funding, reinforcing performance awards, and focusing on more intelligent, sustainable, and inclusive projects, given the challenges faced by the sector.
// +Algarve Line
Launched on World Tourism Day 2023, the +Algarve Line, which is included in the Offer Qualification Support Line (LAQO), has had its budget increased by €30M, geared exclusively towards the Algarve region.
// Budget
€30M
// Projects covered and funding conditions
_ Intended to support investment projects carried out by companies in the tourism sector, especially focusing on the requalification of tourism assets.
_ With this line, the Algarve benefits from the best conditions of the LAQO, which are applicable to low-density territories:
_ Credit sharing - 75% by Turismo de Portugal and 25% by the banking industry.
_ The maximum repayment period is 15 years, including a 4-year grace period.
_ The percentage paid by Turismo de Portugal does not have interest added and a performance premium can be awarded on it, consisting of the conversion of up to 30% of the amount into a grant.
// Access to the Offer Qualification Support Line
To access the Offer Qualification Support Line, tourism companies must plan to make investments in the areas of environmental management and accessibility. All projects must obtain a minimum overall score in these two areas. To assess whether the project meets this score, the company must access the online services available at Turismo de Portugal platform
SGPI (Investment Projects Management System - PT) and choose the option “Project Sustainability and Accessibility Evaluation”.
Project Sustainability and Accessibility Assessment
Before applying for funding from a credit institution, project owners must check whether their project reaches the minimum overall score of 40 points on both measures - environmental management and accessibility. For each measure, projects cannot score lower than 12 points.
To proceed, the company must complete a form available at
SGPI platform and choose the following options:
_ new application
_ LAQO - Project Sustainability and Accessibility Assessment
For duly justified reasons and in view of the type, size, nature and characteristics of their operations, establishment or enterprise, companies may, when completing the assessment, submit a “request for exception” to this rule, which will be duly considered by Turismo de Portugal.
As long as they meet specific goals to be measured in the third full year of operations, all investment projects funded by this Line can now benefit from a performance premium which takes the form of part of the funding awarded by Turismo de Portugal being converted into a grant. Additionally, the maximum premiums available to micro, small, and medium-sized companies have been increased.
The Offer Qualification Support Line will remain open continuously until the funding allocated has been exhausted.
The Specific Support Programme for the Valuation of Territories Affected by Fires in 2022, an extraordinary measure provided for in Resolution of the Council of Ministers no. 83/2022, is intended for investment projects that aim to revive the tourist offer of the municipalities affected by the 2022 fires. The conditions applicable to the respective investments are set out below and shall remain in effect until the specific funding allocated has been exhausted.
Geographic coverage: municipalities of Celorico da Beira, Covilhã, Gouveia, Guarda, Manteigas, Seia, Carrazeda de Ansiães, Mesão Frio, Murça, Vila Real, Albergaria-a-Velha, Alvaiázere, Ansião, and Ourém.
Specific funding: 5 million euros. Funding shared between Turismo de Portugal and credit institutions, with Turismo de Portugal responsible for 80% of the funding, and the banks responsible for 20% of the funding.
Funding requests must be submitted to the participating credit institutions:
_ Abanca
_ Banco Português de Gestão
_ BPI
_ Bankinter
_ Caixa Geral de Depósitos
_ Crédito Agrícola
_ EuroBic
_ Millennium bcp
_ Montepio
_ Novo Banco
_ Novo Banco dos Açores
_ Santander
