430 COMPETITION LAW IN TOURISM specific measures to complement actions within the Member States to achieve the objectives” referred hereinabove24. The acknowledgement by the EU of the relevance of tourism for the economy of the Member States and the development of many European regions is reflected in the support which is provided in order for the sector to remain competitive. Under the EU’s Multi-Annual Financial Framework for 2014-2020, the sector was eligible for funding under several different initiatives, such as: • The European Fund for Strategic Investments, an initiative jointly launched by the European Commission and the EIB Group (European Investment Bank and European Investment Fund) aimed at supporting, among others, strategic infrastructures including digital, transport and energy, and to provide support for smaller businesses and midcap companies. Tourism related activities focused on travel infrastructures, the efficiency of hotels and resorts, setting up investment platforms dedicated to tourism, among others, could be eligible for funding. • The European Regional Development Fund whose goal is to support the sustainability and quality of tourismat a regional level, namely in areas in decline. Tourism related research, technological development and innovation, the development of tourism-related ICT products (such as apps), the development of innovative tourism services, in particular in less favoured and peripheral regions with underdeveloped industrial structures and strongly dependent on tourism, among others, could be eligible for funding under this initiative. • The European Agriculture Fund for Rural Development, aiming at promoting economic development in rural areas. Under this initiative, Portugal (alongside Spain) has received funding (in the amount of 40%) for a project which promoted “accessible tourism” for people with disabilities in certain territories, through the adaptation of museums, the creation of interactive websites and new accessible tourism guides25. Other funds which may contribute with incentives to the tourism sector include the European Maritime and Fisheries Fund, LIFE26, Horizon 2020 and COSME27. Hereunder we pinpoint some of the multiple measures adopted to 24 Article 195 TFEU. 25 Please refer to European Commission’s 2016 “Guide on EU funding for the tourism sector”. 26 The financial instrument supporting environmental and nature conservation projects throughout the EU. 27 Competitiveness of Enterprises and Small and Medium sized Enterprises.
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