The EU Commission is encouraging its Member States to move in the direction of sustainability and digitalization.
1. The Recovery and Resilience Facility
According to the European Commission’s Communication (ECC) ‘Europe’s project: ‘Repair and Prepare for the Next Generation’, the travel and tourism industry is one of the most affected by the Covid-19 and it would require €161 billion worth of investment to revive, with over €672.5 billion in grants for EU countries to invest, create jobs, build a green and digital future for all.
What is the Recovery and Resilience Facility?— European Commission 🇪🇺 (@EU_Commission) February 10, 2021
How can it help EU countries recover from the crisis?
The approval of the European Parliament paves the way for the RRF to come into force in the second half of February.
Learn more ↓ #EUexplained #NextGenerationEU pic.twitter.com/ROKH9sGls6
The aim of this project is to provide large-scale financial support for reforms and investments undertaken by the member states. The Commission has proposed to help the EU by providing support to tourism-related reforms and to ensure it helps in digital drives and green transitions, which will strengthen the economic and social resilience.
2. What will it support?
- Green Transition,
- Digital Transformation
- Growth, Jobs, and Cohesion
- Renovating Of Buildings
- Modern, Digital public administration
- Health, Economic, Social and Institutional Resilience
- Policies For The Next Generation
3. How will it work?
The Member States will submit their draft of recovery and resilience plans outlining the investments and reform agendas with regards to the two strategic objectives: digitalization and sustainability to the Commission by April 2021.
The Recovery and Resilience Facility will invest in making Europe greener, more digital, more resilient, for everyone’s long term benefit.— European Commission 🇪🇺 (@EU_Commission) February 10, 2021
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The alliance wants all Member States to follow the same approach as travel and tourism services and related infrastructure are crucial for each country’s long-term economic plan of action. Along, there are many SMEs (Small and Medium Sized enterprises) that are directly or indirectly relying on the visitor economy, with sufficient support from the commission It will be able to return the employment and the economy will grow faster than any other sector. The European Tourism Manifesto Alliance has already received a number of drafts and recovery plans and they are in a process of recognizing these plans.