Strong Tourism in Greece Driving Investment Activity

Half of all funding under Greece’s 2016 development law has been channeled into tourism ventures, while more than 400 investment plans have been submitted in the last three years to the tourism ministry for approval, said Secretary General for Tourism Policy and Development George Tziallas speaking at the MIPIM property market event held recently in Cannes, France.

The dynamic growth of tourism, Tziallas said, is stimulating investment activity in Greece, which can in turn create jobs and new opportunities for local communities. Indicatively, he added that in the last four years, more than 55,000 new beds were added to the existing 4- and 5-star hotel capacity.

Secretary General for Tourism Policy and Development George Tziallas (right) at the at the MIPIM property market event.

Speaking on investments in the Mediterranean region, Tziallas cited the ministry’s ongoing strategy for the extension of the tourism season, which he said is producing tangible results as demonstrated by the 38 percent increase in tourism over the last four years and by the rise in revenue.

He added that upgrades over the 2015-2018 period have made Greece an attractive investment option particularly in the area of hospitality as is already demonstrated by the interest of international investor groups.

During the event Tziallas, together with government and municipal authorities, participated in a roundtable on best practices where he presented the Greek tourism ministry’s actions for sustainable tourism development that focus on integrating environmental and social awareness, as well as on establishing Athens and Thessaloniki into city break destinations.

Athens, Greece. Photo: Visit Greece / Y Skoulas

Besides his meetings with investors and property market experts, Tziallas also met with Malta’s economy minister, Christian Cardona, on the sidelines of MIPIM, and with his counterparts from Montenegro and Brazil, Damir Davidovic, and Robson Napier Borchio, with whom he discussed the development of bilateral cooperation in tourism.