Investing in Greek Tourism

Even as Greece’s summer tourist crowds thin, tourism investors are flocking to Athens to discuss opportunities in the country’s hotels, resorts and marinas.

In October, the Greek capital was the site of two major global conferences – on Mediterranean resorts and hotels, and on marinas confirming the growing interest in Greek tourism properties.

Greece has seen five record years of tourist arrivals and is expected to welcome more than 30 million visitors in 2018. And, according to a recent joint opinion poll by real estate platform Tranio and the Mediterranean Resort & Hotel Real Estate Forum, the region is in the spotlight with investors too.

According to the survey, the overwhelming majority of respondents — 86% — agree that investment activity in the Mediterranean is heating up, while Greece, Spain and Italy are ranked as the most attractive countries for investors.

Among MR&H Forum participants, Greece is widely seen as the most favored investment destination in the Mediterranean, with the Cyclades among the most popular investment destinations in Greece.

High-level conferences like the MR&H Forum and the ICOMIA World Marinas Conference are also show- casing the growing role of Athens as a conference destination. In 2017, Athens hosted 76 international conferences and symposia, making it one of the Top 20 convention tourism destinations in Europe.

Which countries in the Mediterranean are most attractive to international investors in resort and hotel real estate?
MR&H Respondents

Greece 85%
Spain 50%
Italy 10%
Portugal 20%
Cyprus 10%

Source: Tranio, MR&H

Maritime tourism accounts for up to 3.5% of Greek GDP

Yachting €800 million Revenues 11,500 Jobs
Cruise shipping €580 million Revenues 5,000 Jobs
Coastal shipping €900 million Revenues 6,000 Jobs
Total: €2.28 billion Revenues 22,500 Jobs

Direct contribution to GDP 1,3%
Indirect contribution to GDP 2.9% to 3.5%

Source: INSETE, gbr consulting, enterprisegreece

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