In order for the Greek tourism sector to continue on its path to growth and remain competitive, investments in infrastructure amounting to 6.5 billion euros are required through to 2021, the Greek Tourism Confederation (SETE) said during its annual conference last week.
Marine tourism with emphasis on cruise travel, road tourism, cultural and religious tourism as well as MICE tourism are areas with the greatest growth prospects, according to a study jointly conducted by advisory group PwC and business consultants Remaco.
According to the study, with the required investments, incoming traffic to Greece by 2021 can reach 34.8 million arrivals and revenue can come to 19.6 billion euros.
In view of the above results, SETE is proposing investments in accommodation infrastructure aimed at high-spending tourists, who are expected — according to the study — to account for more that 39.2 percent of additional revenue in the next five years.
In order to bring in high-income travelers however, 5.87 billion euros of the 6.5 billion euros will have to be invested in infrastructure works boosting the capacity of five-star hotels either through upgrades or the creation of new units aiming for high-end tourism — set to account for 12 percent of all arrivals and 30 percent of revenues. Marinas, road networks, port infrastructure and airport services will also have to be improved, the study found.