France on Thursday announced measures worth 18 billion euros ($19 billion) to support its tourism sector, which has been hammered by the coronavirus crisis and resulting shutdown in beaches, leisure attractions and hotels.

Nearly 90 million foreign tourists visited France in 2019, making it the most visited country in the world, according to government data. Tourism accounts for almost 8% of the country's 2.3 trillion euro economy.

"Tourism is facing what is probably its worst challenge in modern history," Prime Minister Edouard Philippe told a news conference. "Because this is one of the crown jewels of the French economy, rescuing it is a national priority."

The prime minister said that with 95% of hotels closed, the government's priority was to avoid bankruptcies and job cuts.

To prevent job losses, the government is reimbursing companies for 70% of the gross wages of workers they put on furlough, and Philippe said that it will extend this measure until at least the end of September.

Measures outlined by Philippe to rescue the sector, which he said totalled a "massive and unprecedented”18 billion euros, included a 1.3 billion euros investment plan for direct cash injections into businesses by state banks.

Businesses with up to 20 employees and 2 million euros in annual revenue in the tourism, hotel and restaurant sector will also be able to tap a solidarity fund until the end of the year, to receive grants of up to 10,000 euros.

There will also be a social security tax break for May and June payments. The amnesty will continue as long as businesses have to remain shut. Tax exemptions will in total amount to 2 billion euros, Philippe said.