One billion forint tourism development project in progress Hungary

The development project to be completed by the middle of 2021 is to receive HUF 1.1 billion worth of European Union and local funding in scope of the Széchenyi 2020 Economic Development and Innovation Operational Programme (EDIOP/GINOP), announced Balázs Rákossy, state secretary in charge of the use of EU funds at the Finance Ministry.

According to the database of EU-funded projects, the development of the old village and the castle in Hollókő was granted HUF 1.1 billion funding in October 2017, 82.4% of which is secured by the European Regional Development Fund, and nearly 18% by the Hungarian state budget. Total budget of the project is HUF 1.134 bn, i.e. 97% are paid by the EU and only 3% from own resources. A total of HUF 800 million were paid in advance on 12 August. The subsidy database shows that the starting date of the project was 31 December 2017 and it should be completed by the end of this year. The state secretary said, however, that it will drag out until mid-2021.

The developments are expected to raise the annual number of visitors by 30,000 within a few years.

Cover photo by kormany.hu, Finance Ministry

This article is part of the work programme titled "The impacts of EU cohesion policy in Hungary - Present and Future" which is carried out by Net Média Zrt., the publisher of Portfolio.hu, between 1st April 2019 and 31st March 2020 with European Union financing. The views in this article solely reflect the opinions of the author. The European Commission as the funding entity does not take any responsibility for the use of information presented in this article.