28.7-million-euro Subsidies for Tourism Investments

According to data from the Ministry of Economy, 48 new tourism investments were approved in July under the development law. The total budget for all of these investments is 68.7 million euros, and the amount out of that total being subsidized is 28.7 million euros, or 41.9 percent for each approved investment project.

Thirty seven new applications for tourism investments have been submitted with a total budget of 125.5 million euros. Most of these new investments involve upgrading hotels and construction of new, smaller-capacity hotels.

To date, tourism and manufacturing investments have had the most projects approved with a total investment value of 1.9 billion euros. Estimates indicate that just from these two sectors 6,238 new jobs will be created.

It is interesting to note that the lowest number of investments approved were for Attika, the highest being Crete, then Central Macedonia, Western Greece, Thessalia, Eastern Macedonia, then Thraki and Epirus.