Wednesday, February 5, 2025, the presentation of the balance sheet of the Côte d’Azur Tourism Fund brought together key players from the tourism and economic sectors in Nice. Initiated in 2021, this 60 million euro fund aims to support 50 projects over a period of 15 years to promote sustainable transformation of tourism on the Côte d’Azur.
Sponsored by the Nice Côte d’Azur Metropolis, the Nice Côte d’Azur Chamber of Commerce, the Var Chamber of Commerce, and the Caisse d’épargne Côte d’Azur, in partnership with the European Investment Bank (EIB), this fund aims to:
- Support the upgrading of hotel and tourism offerings.
- Encourage more virtuous and responsible tourism.
- Generate a significant leverage effect on territorial investments.
- Offer an innovative and flexible financing solution.
Concrete Results
After four years of deployment, the numbers speak for themselves:
- 31 projects financed for a consolidated amount of 35 million euros.
- A leverage effect of 210 million euros in global investments.
- The creation of 700 jobs in the region.
- 1,000 business leaders met and 300 projects studied.
- 21.7 million euros invested in the Alpes-Maritimes and 12.1 million euros in the Var.
- A project financed in a neighboring department for 1.4 million euros.
Enhanced Environmental Impact
One of the strengths of this initiative is its commitment to ecological transition. Three concrete measures have been implemented:
- An impact loan allowing borrowers to reduce interest rates by up to 10% for projects that improve their ESG score.
- The establishment of specific training sessions.
- Conducting environmental audits.
In four years, the average ESG score has increased from 48 to 54, confirming the integration of environmental and social criteria into each financed project.
Future Prospects
During this conference, Pascal Boisselier, a hotelier who benefited from the fund for the acquisition and renovation of the America and Molière hotels in Cannes, shared his experience: “It was above all a human adventure with interlocutors who know our business and its challenges perfectly.”
Jean-Yves Morin, representative of the Caisse d’épargne Côte d’Azur, emphasized the importance of this fund in a context of more restrictive bank financing: “The tourism fund has played a key role in helping businesses realize their projects and boost the region’s attractiveness.”
Finally, Grégoire Chouvière de Gréand, director of the European Investment Bank, affirmed the EU’s commitment: “We will continue to support the sustainable tourism development of the Côte d’Azur.”
A Model to Sustain
In light of the success of the initiative, a second version of the Côte d’Azur Tourism Fund is in preparation. Its goal will be to further support professionals and tourism innovation.
This report strengthens the region’s investment strategy and highlights an effective model, combining the public and private sectors, in the service of excellence and sustainable tourism.