Tourism Investments in Greece Expected to Increase in 2018

Greece is expected to see tourism investment activity increase by 3.6 percent this year, compared to 2017, according to Tourism Minister Elena Kountoura. Investment activity in the Greek travel and hospitality sector last year was worth 3,1 billion euros.

“During the last three years, Greece has attracted 350 new tourism investment plans, regarding four- and five-star hotel units of more than 300 beds,” Kountoura wrote in an article published on Greek weekly newspaper Real News.

Furthermore, international air arrivals increased by 20.4 percent during the first five months of 2018, which indicates that Greece received a large number of tourists during the winter months.

Tourism Minister Elena Kountoura.

Tourism demand stronger than ever

“Demand for Greece is now stronger than ever,” Kountoura said adding that the country is expected to receive 2 million more foreign visitors from June until October, compared to the same period in 2017.

According to data released by the Hellenic Hoteliers Federation (POX), Greek hotels’ revenues increased by 12 percent during the first five months of the year, the average occupancy rates reached a record at 70.4 percent and overnight stays rose by 2.8 percent. Furthermore, tourism revenues reached 1 billion euros between January and April.

“The Greek tourism ministry has implemented a national and regional tourism policy, aiming to make Greece a global attractive tourism destination 365 days a year,” Kountoura added.