1. Types of finance
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.
2. Brilliant Basics Fund
Brilliant Basics is a capital fund to deliver small-scale tourism infrastructure improvements across Wales.
Who can apply?
This year’s scheme is open to:
- Local Authorities
- National Park Authorities
The objectives of the fund are to:
- Invest in small infrastructure projects that benefit both communities and visitors in strategically important tourism locations.
- Develop high quality infrastructure projects that support the wider tourism offer in destinations giving visitors a memorable experience throughout their stay.
- Support basic facilities to remain open all year and cater for visitors well into the evening.
For this round of funding, the priority is focused on 4 key areas:
- Alleviate pressure points. Find infrastructure solutions to overcome pressure on areas as a result of increased visitor numbers.
- Environmentally sustainable destinations. Develop new or transform existing infrastructure to make the destination more environmentally sustainable, thereby helping to reduce the carbon footprint.
- Inclusive Tourism / Accessibility. Support projects that remove obstacles and barriers within a destination and improve access to facilities for all.
- Enhancing national products, for example, projects that enhance and raise the profile of the Wales Coast Path.
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 of Brilliant Basics 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 w/c June 26th 2023. Full spend must be incurred and claimed by 31 March 2025. The project will be financed across 2 financial year budgets and will therefore need to clearly demonstrate a cost profile for 2023-24 and 2024-25.
Further Information is available on request from RegionalTourism@gov.wales.
The closing date for this round was 16 March 2023.
3. 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.
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.
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 0845 010 8020.