Berlin cuts travel fund costs to support tourism

The German government announced a 50% reduction in the Travel Protection Fund fees, decreasing the fee rate to 0.25% of protected travel sales starting November. This aims to lower costs and stimulate the tourism sector. Additionally, the amount of required bank guarantees was reduced by approximately 560 million euros, enhancing liquidity and easing the financial burdens on travel companies. These measures are part of the government's efforts to support the competitiveness of the travel industry and improve its ability to face financial challenges.

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