site.btaTourism Guarantee Fund Proposed in Amendments to Tourism Act

As a result of six months of coordinated work between the Tourism Ministry, representatives of the tourism sector, and the Parliamentary Committee on Tourism, a draft bill to amend and supplement the Tourism Act has been tabled to the National Assembly. The bill, introduced by a group of MPs, provides for the creation of a Tourism Guarantee Fund, the Ministry said in a press release on Thursday.

The primary objective of the legislative proposal is to enhance consumer protection and align national legislation with Directive (EU) 2015/2302 on package travel and linked travel arrangements. The draft has been presented and discussed twice with members of the Parliamentary Committee on Tourism during the current parliamentary session.

The proposed Tourism Guarantee Fund aims to protect consumers in the event of a tour operator’s insolvency by ensuring reimbursement for prepaid services when a travel contract is terminated prematurely.

The fund is designed to function as a collective body. Members of its Managing Board will be appointed by the Tourism Minister, based on nominations from the Finance Minister, the Consumer Protection Commission Chair, and registered industry associations listed in the National Tourism Register.

“This legislative proposal provides real and effective consumer protection,” said Tourism Minister Miroslav Borshosh, as quoted in the press release.

In a session of the parliamentary committee held in the second half of May, Borshosh indicated that the annual contributions to the Guarantee Fund, or at least the initial one, are expected to be set at up to 1% of the annual turnover of tourism companies.