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Tourism Business Financing

Tourism Business Financing

Microloans are awarded for the creation or expansion of locally-owned tourism businesses.

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Tourism Business Financing:

We strive to increase the number of locally owned tourism businesses by providing a low-cost financing option for entrepreneurs that would otherwise not qualify for traditional financing. We offer microloans to locals that wish to start a new tourism business or expand an existing tourism business. Applicants without prior education must complete REAL Tourism Development’s hospitality management training program or business management community courses to ensure successful management of their new or expanded business. We also reward participants whose businesses meet specific socially and environmentally sustainable criteria by offering partial loan payment forgiveness.

University Scholarships:

We can promote local management and ownership positions in the tourism industry by offering a formal education to students who would not otherwise be able to attend university. Each year we will provide one full-ride university scholarship to a local high school student pursuing a degree in Tourism or Hospitality. Preference will be given to students that participate in REAL Tourism Development’s youth outreach program, those that plan to stay in their home country to build their career in tourism, and those most in financial need, as well as to females who historically have lower rates of higher education and employment.

Hospitality Training Centers

We combat unemployment and the lack of qualified local applicants for hospitality positions in developing countries with our hospitality training centers. These centers for at-risk youth and disadvantaged community members will equip graduates for employment in high-paying luxury hotels. Training centers will be part of an operating hotel to provide both formal classroom education as well as practical training and apprenticeship on location. Students will be selected based on need, with a preference given to females due to their higher rates of unemployment. Students will select a program from the areas of housekeeping, restaurant service, culinary, or hotel management. Graduates will be provided with a paid internship at a major high-end hotel, and with assistance finding employment after the internship. And as a nonprofit teaching hotel, all profits go directly into the community to improve their quality of life.