Tourism Minister Lisa MacLeod says the money will be distributed through the new Tourism Recovery Program.
McLeod says the program will help for-profit tourism businesses in the attraction, accommodation, and leisure travel sectors.
She says the money will help those businesses protect critical jobs and help them prepare to reopen to visitors.
Eligible tourism businesses include inns and lodges, boat tours, ski centres, live performance venues, cinemas, drive-in theatres, and amusement and water parks.
The province says the program will support tourism businesses that have experienced a loss of at least 50 per cent of eligible revenue in 2020-21 compared to 2019.
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