Financial Support: a cover for stormy weathers

Financial Support: a cover for stormy weathers

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When it rains, it actually pours down. Times like this are especially challenging for organizers. Therefore it is important to look for a good cover in time to get well through the storm. This is why the government has provided this 300 Million Euro cover to help our industry to cope with cancellations or restrictions.

The Government Cover in detail

Applications for the financial support can be entered until 15 June 2021 through the Austrian Hotel and Tourism Bank (ÖHT) for costs that were due after the application and are effected by a cancellation or limitation due to Covid-19. The timeframe for this support covers events until the end of 2022. The amount results from the difference between expenses that cannot be cancelled and expected revenue, insurance benefit and other support. Costs that can be supported are charges from 3rd party suppliers (e.g. vendors, A/V, Catering, venue) that cannot be cancelled anymore as well as staff costs that are directly linked to the planning and operation of an event.

A cover for Vienna

The city of Vienna offers financial support in this crisis as well. Within the frame of a Corona Support Package, the city offers a new financial congress support through the Vienna Tourist Board – in total 4 Million Euro. There is good reason for this: Vienna plays an important role as international congress destination and generates an enormous added value every year. The support is not only valid for the acquisition of large congresses but also for corporate events. It serves as a double economic support for events on the one side but also for the suppliers (eg. Hotels, gastronomy, event organizers) on the other hand.

The details for the different support modules, based on participant numbers, are currently still in a development phase. One module, specifically geared towards hybrid events, is definitely planned. The timeframe for this special support is valid from the day events are officially allowed again until 2023 by all means. The application implies that the meeting is taking place in a hotel or an official event location in Vienna.

More Information can be found on the following pages: