Golf Tourism Lending Extra Value to Greek Hotels, Properties

Costa Navarino

One of the most rapidly growing tourist markets, golf tourism is expected to bring added value to Greek destinations, accommodation facilities and properties, according to a report released recently by real estate specialists Algean Property.

According to the report, more than 10 percent of travel abroad each year is for the main purpose to play golf with the average golf tourist spending five times more per day – at 250 euros – in comparison to the average tourist.

Golf Courses in Greece, Source: Algean Property

Of the 25 million travelers visiting Greece in 2016, some 200,000 came to play golf. The report findings indicate that Greece could increase its tourist traffic and resultant revenue significantly if the relevant infrastructure is developed attracting more golfers.

Analysts refer to the Messinia region and particularly to the Costa Navarino, which they say can spur a large holiday home market focused on golf players.

According to Kostas Sideris, analyst at Algean, the going price for villas in the region comes to 3.500 euros per square meter, and rental rates at 2,500 euros per week.

This said, Sideris points out that investment in a series of holiday homes near the Costa Navarino resort and its golf courses will attract high-income travelers, boost tourist traffic and increase revenues. Other areas with growth potential include Porto Heli, Crete, Halkidiki and Atalanti.

Besides the obvious economic gains, golf tourism is also expected to extend the tourism season as golfers prefer to holiday in the fall due to the better weather conditions, Sideris added.

The Costa Navarino was recently awarded the “2017 European Golf Resort of the Year” at the IAGTO Awards ceremony held in Palma, Spain.