{"id":9423,"date":"2022-04-28T08:43:40","date_gmt":"2022-04-28T06:43:40","guid":{"rendered":"https:\/\/twissen.com\/?p=9423"},"modified":"2022-04-28T08:43:40","modified_gmt":"2022-04-28T06:43:40","slug":"50-billion-recovery-react-eu-tourism-in-front-row","status":"publish","type":"post","link":"https:\/\/twissen.com\/en\/trends-en\/policies-funding\/50-billion-recovery-react-eu-tourism-in-front-row\/","title":{"rendered":"50 Billion for recovery from REACT-EU: tourism is in the front row"},"content":{"rendered":"<p><a href=\"https:\/\/ec.europa.eu\/regional_policy\/it\/newsroom\/coronavirus-response\/react-eu\/\" target=\"_blank\" rel=\"noopener\"><span data-contrast=\"none\">REACT-EU<\/span><\/a><span data-contrast=\"auto\"> (Recovery Assistance for Cohesion and the Territories of Europe initiative) is one of the instruments of the <\/span><a href=\"https:\/\/europa.eu\/next-generation-eu\/index_en\" target=\"_blank\" rel=\"noopener\"><span data-contrast=\"none\">NextGenerationEU<\/span><\/a><span data-contrast=\"auto\">, as well as being the largest programme, with a budget of \u20ac50.6 billion. It is an unprecedented initiative, an addition to the current programming allocations, arose from the need to respond to the Covid-19 pandemic.\u00a0 <\/span><br \/>\n<span data-contrast=\"auto\">Its success and correct implementation depend on three pillars: <\/span><b><span data-contrast=\"auto\">strength<\/span><\/b><span data-contrast=\"auto\"> (financial allocation); <\/span><b><span data-contrast=\"auto\">speed<\/span><\/b><span data-contrast=\"auto\"> (use of existing programmes until 2023); and full <\/span><b><span data-contrast=\"auto\">flexibility<\/span><\/b><span data-contrast=\"auto\"> in implementing the rules.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Covid-19 has had serious repercussions on both <\/span><b><span data-contrast=\"auto\">economic<\/span><\/b><span data-contrast=\"auto\"> and<\/span><b><span data-contrast=\"auto\"> social<\/span><\/b><span data-contrast=\"auto\"> spheres. Some of the major indicators of the pandemic crisis are: the collapse of GDP, rising unemployment, especially among young people, and a decline in general welfare. <\/span><br \/>\n<span data-contrast=\"auto\">The programmes aimed at solving these problems are the <\/span><b><span data-contrast=\"auto\">ERDF <\/span><\/b><span data-contrast=\"auto\">and the <\/span><b><span data-contrast=\"auto\">ESF<\/span><\/b><span data-contrast=\"auto\">, which, in this case, become instruments for the allocation of resources under REACT-EU. <\/span><br \/>\n<span data-contrast=\"auto\">Furthermore, REACT-EU follows the logic of <\/span><a href=\"https:\/\/ec.europa.eu\/regional_policy\/en\/2021_2027\/\" target=\"_blank\" rel=\"noopener\"><span data-contrast=\"none\">Cohesion Policy<\/span><\/a><span data-contrast=\"auto\">, where funding is distributed in proportion to the damage suffered and the relative fragility of the sector\/area of interest.\u00a0\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The <\/span><a href=\"https:\/\/ec.europa.eu\/growth\/sectors\/tourism\/funding-guide\/react-eu_en\" target=\"_blank\" rel=\"noopener\"><span data-contrast=\"none\">tourism sector<\/span><\/a><span data-contrast=\"auto\"> is therefore a priority recipient of funds. Interventions may concern the subsidising of working capital and productive investments in SMEs, with the aim of <\/span><b><span data-contrast=\"auto\">boosting<\/span><\/b> <b><span data-contrast=\"auto\">economic resources directed towards green and digital transition<\/span><\/b><span data-contrast=\"auto\"> or the <\/span><b><span data-contrast=\"auto\">training of workers<\/span><\/b><span data-contrast=\"auto\">.\u00a0 <\/span><br \/>\n<span data-contrast=\"auto\">Moreover, 25% of the resources allocated by REACT-EU should be used to achieve the climate targets set at European level.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">At <\/span><b><span data-contrast=\"auto\">Twissen <\/span><\/b><span data-contrast=\"auto\">we observe<\/span><span data-contrast=\"auto\"> that REACT-EU is characterised by high levels of <\/span><b><span data-contrast=\"auto\">pre-financing<\/span><\/b><span data-contrast=\"auto\"> and the possibility of receiving <\/span><b><span data-contrast=\"auto\">100% European support<\/span><\/b><span data-contrast=\"auto\">. The programme&#8217;s implementation measures provide for greater flexibility in order to benefit the most affected Member States and companies.\u00a0\u00a0\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><i><span data-contrast=\"auto\">For more information on projects funded in the 2014-2020 budgetary period, see <\/span><\/i><a href=\"https:\/\/ec.europa.eu\/regional_policy\/en\/projects\/Croatia\/visitus-helping-blind-and-visually-impaired-tourists-enjoy-the-croatia-serbia-border-region\" target=\"_blank\" rel=\"noopener\"><i><span data-contrast=\"none\">VISITUS: Helping blind and visually impaired tourists enjoy the Croatia-Serbia border region-Projects &#8211; Regional Policy &#8211; European Commission (europa.eu)<\/span><\/i><\/a><i><span data-contrast=\"auto\">\u00a0<\/span><\/i><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>REACT-EU has the largest budget within NextGenerationEU and it is one of the most influential instruments. It is an initiative arose from the Covid-19 pandemic<\/p>\n","protected":false},"author":7,"featured_media":9427,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[125],"tags":[882,856],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>50 Billion for recovery from REACT-EU: tourism is in the front row | Twissen<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/twissen.com\/en\/trends-en\/policies-funding\/50-billion-recovery-react-eu-tourism-in-front-row\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"50 Billion for recovery from REACT-EU: tourism is in the front row | Twissen\" \/>\n<meta property=\"og:description\" content=\"REACT-EU has the largest budget within NextGenerationEU and it is one of the most influential instruments. 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