Estonia invests 123 mEUR in tourism sector in 2014-2020

On Thursday the government endorsed the Estonian National Tourism Development Plan 2014-2020, according to which the state will invest an estimated 123 million euros in the tourism sector with the aim of boosting its volume by almost one-third by 2020.

The development plan supports both private and public sector investments as a result of which export revenue from tourism services would grow to 1.6 billion euros by 2030, marking an increase of nearly 30% over 2012, the Ministry of Economic Affairs and Communications said.

The number of overnight stays by foreign tourists at Estonia’s accommodation establishments is estimated to grow to 5 million and of stays by domestic tourists to 2.1 million, numbers that are respectively 31% and 23% bigger than in 2012.

Minister of Economic Affairs and Communications Juhan Parts said the tourism sector has become ever stronger in recent years and it maintained very good health also during the difficult years. He said that where in the previous seven years Estonia focused primarily on the construction and renovation of tourism facilities, in the new period the whole existing infrastructure must be made to work as effectively as possible. In the new period smarter use of the investments already made will be in the focus, the ministry said.

In order to improve the Estonian tourism sector’s position in international competition, the government will go on promoting awareness of Estonia as a travel destination in neighbouring countries and elsewhere.

Under the previous development plan about 200 million euros was channeled into the tourism sector in 2007–2013.

Together with indirect impact tourism is seen to contribute 6.3% of Estonia’s gross domestic product. The sector also accounts for a significant share of the export of services, where it made up 29% of total volume in 2012, and in overall exports, where it accounted for 7.4%.

Activities under the development plan are financed from EU structural funds and the Estonian state budget.

Source: Estonian Review

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