Tourism stakeholders are alarmed by the State's plan to dip into holiday vouchers
The State's plan to draw 125 million euros from the reserves of the National Agency for Holiday Vouchers would undermine “tourist purchasing power”, according to professionals in the sector.
Tourism professionals were alarmed this Tuesday, November 3, by the State's plan to draw 125 million euros from the reserves of the National Agency for Holiday Vouchers, which benefit 4.8 million people, a measure which undermines "tourist purchasing power". In a press release on Tuesday, the Groupement des hôteliers et caterers de France (GHR) union asked “parliamentarians to oppose state deductions from the ANCV reserves”. “This measure would compromise the financing of aid for going on vacation and would penalize the activity of tourism professionals, including hotels, cafes and restaurants,” adds the GHR.
“The signal sent to the entire sector is difficult to understand, when the challenge should on the contrary be to preserve tourist purchasing power,” regretted at the beginning of the month the Confederation of Tourism Stakeholders (CAT) which insists on “access to holidays for the most modest French people”. The 2027 budget presented by the government on October 1 plans to take 125 million euros from ANCV resources to contribute to the recovery of public accounts. The Agency has built up significant reserves, of the order of 183.8 million euros at the end of 2025, estimates the government.
Nearly 5 million employees affected After the levy, described as “exceptional”, “the agency would retain sufficient margins to guarantee the balance of its economic model” and “respect for its commitments”, assures the government. In 2025, 4.8 million employees and self-employed workers received holiday vouchers, which corresponds to 1.75 billion euros reimbursed to beneficiaries and reinjected according to the ANCV into the French economy. Another ANCV system, assistance for going on vacation, enabled 300.
000 people to leave, according to its latest annual report. The GHR estimates that this withdrawal from the reserves “would lead to their exhaustion at the end of 2029 and would force the Agency to reduce its social action from 2028”. A public establishment created in 1982, the ANCV has the monopoly on issuing holiday vouchers used for transport, accommodation, meals and leisure expenses.
It is financed by commissions collected when issuing and reimbursing holiday vouchers.
Machine-translated from French
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- Le Figaro3 Nov, 17:43Tourism stakeholders are alarmed by the State's plan to dip into holiday vouchers ↗Figures: 125 millions
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