For general information and advice about finding finance and choosing the right type go to the main Business Wales website.
For tourism funding specifically, our main investment fund is the Wales Tourism Investment Fund (WTIF) and Brilliant Basics.
You can view details of historic funding schemes and projects that have received investment from the Welsh Government on the projects supported page.
Brilliant Basics Fund
Brilliant Basics is a capital fund delivering small-scale tourism infrastructure improvements across Wales.
Who can apply?
This year’s fund is open to:
- Local Authorities
- National Park Authorities
The purpose of the fund is to deliver improvements in basic but essential visitor infrastructure at strategic tourism destinations across Wales to ensure that all visitors have a positive and memorable experience throughout all aspects of their stay.
For this round of funding, all applications must meet priority (1) below and at least one of the other 3 key priorities:
- Environmentally sustainable destinations and responding to the climate emergency. Develop new, or transform existing, infrastructure to make the destination more sustainable, helping to reduce the carbon footprint.
- Alleviate pressure points at ‘hot spot’ locations and supporting high quality tourism destinations.
- Inclusive tourism and enhancing accessibility. Support projects that remove obstacles and barriers and improve access to facilities for all.
- Enhancing the visitor offer, for example, through developing product experiences that provide a sense of place such as event infrastructure, interpretation schemes, trails and projects that showcase local food, heritage, culture and the Welsh language.
Level of funding Available
This is a capital fund. Revenue costs are not considered.
Total grant available is £300,000 with a maximum intervention rate of 80%. There is no minimum grant amount.
Timescale for delivery
For this round, applicants will be given additional time to deliver projects (if required). If you are successful at EOI stage (stage 1) you will be invited to submit an application (stage 2). Applicants will be informed if their stage 2 application is successful from 01 April 2025.
For one year projects full spend must be incurred and claimed by 01 March 2026.
If a project can justify the need for a longer timescale the project can be financed across 2 financial years. Applicants will therefore need to clearly demonstrate a cost profile for 2025-26 and 2026-27. Projects must complete by 31 January 2027.
We are now inviting expression of interests and Guidance is also available.
Further information, and the EOI form, is available on request from RegionalTourism@gov.wales.
Closing date for Expression of Interest: 22 November 2024.
Completed forms to be submitted no later than 12 noon to RegionalTourism@gov.wales.
Wales Tourism Investment Fund (WTIF)
The Welsh Government, in partnership with the Development Bank of Wales, has launched a new £50m fund, Wales Tourism Investment Fund (WTIF) which brings together both commercial and grant funding into one combined package of financial support to provide capital investment for the sector.
Fund objectives
In order to maintain and develop Wales’ position in the hugely competitive global tourism market, we need to continue to invest in our tourism product. The key objective of the Fund will be to help finance capital investment in tourism projects which have the opportunity to create positive impact on growing the sector and the Welsh economy.
Purpose of fund
- To provide continued access to finance for tourism projects in Wales
- To support the transition of the tourism sector from grant reliance to commercial loan serviceability
- Allow public funding to be mobilised in an area that can create significant impact on the economy
- To be able to support potentially substantial strategic investments as required.
What will it fund?
- The new fund will provide patient capital to tourism businesses of between £100,000 and £5,000,000 for qualifying projects
- Repayment term is between 10-15 years, and can include seasonality payment breaks
- It will provide increased flexibility of funding
- Funding will be made available from the outset of a project and tranched through the development phase
- Commercial loan and qualifying grant payments will be blended in order to reduce the overall cost of the finance.
Who is eligible?
The fund comprises a mix of repayable and non-repayable finance, targeting eligible capital investment projects in the tourism sector in Wales. It can be used either to upgrade existing, or create new, high quality assets in the tourism sector.
In order to be considered for support from the Wales Tourism Investment Fund an applicant will need to:
- Commit to supporting the Welsh Government’s Prosperity for All strategy and demonstrate a commitment to the four requirements of the Economic Contract
- Be based in Wales and demonstrate how the project will stimulate growth in new and existing markets and create and/or safeguard jobs
- Demonstrate financial viability and repayment over the term of the funding package.
Next Steps
The fund includes a two stage application process. The first stage includes an Expression of Interest form and if successful at this stage, the business will then be invited to make a full application. Frequently Asked Questions are also available.
If you are interested in receiving more information on the WTIF, please email WTIF@gov.wales or call 03000 622418.
