There are 100 new hotels being built. “Many of them outside intense tourism areas”

The Portuguese minister for the Economy, Manuel Caldeira Cabral, this Tuesday, that the Programme Valorizar, which supports investments in touristic projects that promote the country’s social and economic cohesion, “has approved 262 projects”. All in all, there are 100 new hotels being built throughout the country.

Manuel Caldeira Cabral made an overall assessment of the different support initiatives of his ministry. “In tourism, we launched a series of lines especially meant for supporting tourism developments and for investments in tourism”, the governor highlighted.

“We have already made 593 million available to this sector that is growing at such a nice pace, not just in demand, but in supply. With a large number of new investments and re-qualification investments, the programme Valorizar has approved 262 projects”, totaling 62 million euros in candidate investment, Caldeira Cabral disclosed.

The programme Revive — which grants incentives to privates who recover State patrimony for exploiting tourism projects in a licensing regime — has “a line worth 150 million to support projects, especially to recover historic real estate”, for 33 signaled buildings. In addition, there are lines for qualifying the offer that “already has 163 projects for over 200 million in investment, meaning that many hotels will be renovated, some will be created and some new hotels are about to open”, the governor stated.

The line for qualified offer has, more exactly, a 205.8 million euros’ investment. And, currently, “there are over 100 new hotels being built, many of them outside highly touristic locations”, Caldeira Cabral added.