The Government of Canada unveiled the Canadian Experience Fund For Tourism (CEF) at the release of Budget 2019, a national program aimed at assisting communities across the country in developing, improving, or enhancing tourism products, facilities, and experiences. Now let’s explored with us this article to make clear about the Canadian Experience Fund For Tourism, how it works, and who can apply it? All the answers will be included in the following pieces of information.
1. What is the Canadian Experience Fund For Tourism and How does it work?
Pacific Economic Development Canada administers the Canadian Experience Fund For Tourism in British Columbia (PacifiCan). The fund is part of our government’s reinvigorated efforts to boost tourism by investing in products and experiences that play to Canada’s strengths, as well as expanding tourism outside big cities and the summer season.
The Canadian Experiences Fund focuses its investments on the following five factors:
- Fund programs like onsite experience enhancement, tours, excursions, special events, and tourism infrastructures to boost the winter and shoulder seasons.
- Invest in projects like destination development adventure planning, local product development, eco- and agri-tourism, rural and remote tourist amenities, or local product development to boost tourism in rural and distant places.
- Invest in projects like market preparation, onsite experience creation, producing a range of consumer items, tours, festivals, and special events to boost Indigenous tourism.
- Support LGBTQ2+ communities by funding train-the-trainer programs, attractions, special events, and festivals, as well as market preparation.
Boost culinary and farm-to-table experiences in diverse regions through sponsoring projects such as culinary tourist trails, farmers’ markets, and onsite experience creation.
2. Who will be suitable for becoming an applicant?
Canadian Experience Fund For Tourism accepts applications from a diverse range of organizations. Non-profits, for-profit corporations, trade groups, and local, provincial, and indigenous governments are among them.
In most cases, non-profit organizations can request up to $500,000. Funding requests in excess of this amount will be evaluated on a case-by-case basis. CEF financing can cover up to 100% of qualified expenses.
Incorporated for-profit organizations (with fewer than 500 full-time employees) can request funding of up to $100,000 if all other sources of funding are confirmed (The CEF can support up to 50% of a project’s costs, with the remaining amount originating from these other non-government sources)
- Tourism product and service planning and development: enhancing or creating new tourism services and goods such as tours, special events, and festivals.
- Working with tourism associations to provide training to businesses on how to sell their products, use foreign payment methods, and deal with cultural differences, among other things; and
- Tourism facilities are physical assets that tourists use, such as pathways, campgrounds, and shelters.
3. Tourism Relief Fund You Can Refer:
The Tourism Relief Fund has been established by the Canadian government and will be administered by FedDev and FedNor Ontario. This Canadian Experience Fund For Tourism assists tourism firms and organizations in adapting their operations to fulfill public health regulations while also investing in products and services that will help them expand in the future. This fund will focus on product development and destination development and has a $500 million budget (ending March 31, 2023). The Canadian Experience Fund For Tourism will enable enterprises to develop or improve tourist experiences and goods in order to attract visitors and assist the tourism sector in providing the greatest possible Canadian Experience Fund For Tourism
Non-repayable contributions of up to $100,000 for up to 50% of eligible expenditures OR fully repayable contributions of up to $500,000 for up to 75% of eligible costs will be made to enterprises.
The fund will provide a minimum of $50 million to Indigenous tourism programs, with an additional $15 million set up for national initiatives that advance national tourist interests. Tourism entities that serve primarily visitors, such as corporations, not-for-profit organizations, band councils, or other Indigenous groups and cooperatives, are all eligible applicants.
3.1 Applicants must meet at least one of the following requirements to be accepted for this fund:
- As a significant provider or operator, participate in the tourist experience.
- Be a member of a well-defined tourism cluster or a tourism-dependent community, which includes downtown core support; or
- In a tourism destination, provide an anchor product or service.
- Not-for-profit organizations such as tourism associations, band councils, or other Indigenous groups and cooperatives are all examples.
3.3 Activities that are permissible
Projects funded by the Tourism Relief Fund will be focused on:
- Product development, for example, projects that improve tourism experiences, assist tourism businesses in adapting to the “new normal,” and promote the creation of more environmentally friendly and inclusive practices.
- Destination development projects include projects that position the community to take benefit of post-pandemic possibilities through the planning process for medium- to long-term investments, as well as projects that support location development potential in connection with the Federal Tourism Growth Strategy’s objectives.
- Recognizing local realities, RDAs will collaborate to meet the demands of businesses and communities on a regional level, providing consistent support across Canada at this important time.