EU Funding Key to Upgrading Greek Island Tourism Model, Says Deputy Minister

Channeling recovery funds and EU support into modifying the tourism model to meet the demands of the changing times with emphasis on sustainability and new products is key to the development of the Greek islands, said Deputy Tourism Minister Manos Konsolas during the general assembly of the Chambers Group for the Development of the Greek Isles.

Konsolas stressed the importance of tapping into the new financial tools for energy and infrastructure upgrades required to expand the tourism potential of the Greek islands.

The minister underlined the need to create new products and proceed with energy upgrades of island accommodation infrastructure that will attract higher-income visitors.

Greek Deputy Tourism Minister Manos Konsolas.

In this direction, he referred to a new 450-million-euro guarantee program aimed at offering working capital of up to 50,000 euros to very small and small enterprises as well as a 60-million-euro initiative to subsidize F&B businesses for the purchase of outdoor radiators in view of Covid-19 distancing requirements.

In an effort to accelerate upgrades, Konsolas also suggested the diversification of incentives for tourism enterprises, which he said can include replacing tax exemptions with direct subsidies, strengthening company liquidity under the development law, and increasing the support threshold for small businesses.