Iran Introduces Package to Support Coronavirus-Hit Tourism Industry

The Iranian government has introduced a new package to support the tourism businesses affected by the COVID-19 crisis, which includes deferments and bank loans.

The Ministry of Cultural Heritage, Tourism and Handicraft said in accordance with the instructions approved by the Economic Working Group to deal with the consequences of the coronavirus outbreak, new loans are to be paid to affected businesses in the tourism sector.

Deputy Minister, Vali Teimouri, announced on Monday that the working group decided to defer the payment of all expenses and debts of tourism activists (taxes of previous years, employer’s insurance shares, repayment of bank instalments, utility bills) until the end of the current Iranian year (to end in mid-March 2021).

All tourism industry activists can benefit from at least IRR 160 million to IRR 9 billion worth of bank loans with a breathing space of about six months.

“Based on this, hotels, hotel-apartments, guesthouses and traditional accommodation centres and eco-tourism centres will receive bank loans of up to IRR 9 billion, travel agencies get between IRR 1.5 and 3 billion and tourist guides receive IRR 200 million,” noted Teimouri.

Tourism complexes, tourism training institutes, transportation companies, motels, tourism service evaluation companies and evaluators will also benefit from this package.

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