Tourism Investments & Real Estate

Greece has become an attractive destination for tourism investment after promoting a series of measures such as introducing new tourism products, amending spatial plans, simplifying licensing procedures for tourism businesses and modernizing infrastructure.

The Greek Environment Ministry recently gave its approval for the creation of two major tourism resorts on the islands of Milos and Kea in Greece.

The Stavros Niarchos Foundation has awarded a three million euros grant to the National Museum of Contemporary Art (EMST) for the immediate completion of the substantial reconstruction works at the Museum’s building, the former Fix Brewery in Athens.

An Australian group of investors have announced plans to build a mega luxury resort on the southern shores of the Greek island of Ithaca.

Greece’s capital city, Athens, has ambitious infrastructure projects in the works that are expected to give the destination’s tourism image a major boost once completed.

The number of startups in Greece have increased significantly in 2013 comparison to 2010, according to Endeavor Greece, a global non-profit organization supporting entrepreneurship.

A new tender for the construction and management of an airport on Crete in Kasteli, Heraklion, is expected to launch by the end of April.

On 1 April, low cost carrier Ryanair opened its third Greek base at Athens (65th in total) with two based aircraft and six routes to Chania, London Stansted, Milan Bergamo, Paphos, Rhodes and Thessaloniki.

Following a positive opinion of the Council of Experts, the Board of Directors of the Hellenic Republic Asset Development Fund (TAIPED) unanimously declared Lamda Development SA as the Preferred Investor for the acquisition of the 100 percent of the shares of Hellinikon SA.

Tourism and travel are included among the opportunities “to go after” for aspiring entrepreneurs, investors and professionals, according to a report on “Entrepreneurship and Investment Opportunities in Greece Today” issued by Endeavor Greece.