TAIPEI (TVBS News) — Taiwan's Ministry of Economic Affairs (MOEA), in collaboration with the Ministry of Transportation and Communications (MOTC), announced on on Tuesday (Dec. 20) a "Subsidiary Tourism" program next year to boost business tourism by offering foreign business travelers subsidies of up to NT＄2,000 each.
The program's budget is set at NT＄10 million, with the International Trade Administration increasing subsidies from NT＄1,200 to NT＄2,000 starting in January. Subsidies on weekends (Friday to Sunday) will be NT＄1,500.
This move has reportedly boosted related hotel stocks, driven by two key factors. First, the tourism industry is on a path to recovery, with this year's visitor numbers at 6 million, showing significant growth potential compared to pre-pandemic levels of 12 million.
Also, the reduction in three-day public holidays to just four occasions next year is expected to boost domestic tourism and improve hotel occupancy rates.