Minister: Greek Tourism Fresh Ground for Investments

Greek Tourism Minister Harry Theoharis invited investors to bet on Greece and particularly on the potential of the tourism sector where there is plenty of space of growth. 

Speaking at the 22nd annual “Capital Link Invest in Greece Forum”, Theoharis confirmed that eight investments amounting to 1 billion euros had received the green light through the ‘fast-track’ process despite the Covid-19 pandemic.

“There are significant investment opportunities in many sectors of the Greek market and, mainly, in areas concerning the upgrade and construction of new hotels, the promotion of special forms of tourism, the construction of marinas and theme parks,” said Theoharis.

To demonstrate his point, the minister referred to at least 40 hotels that had opened in the last year in Athens, through lease agreements or full acquisition deals demonstrating the tourism market’s growing dynamic.

He added that the said investments had contributed to the transformation of the city particularly around Plaka, Omonia and Syntagma squares.

Omonoia square, Athens

The minister also referred to the revision of the legal framework aimed at attracting and facilitating strategic investments, naming the Hellinikon project as a reference point.

“We decreased corporate taxation and developed a comprehensive tax incentive framework for investment in research and development. We also reduced bureaucracy and proceeded with the simplification of public sector procedures through digital transformation,” said Theoharis.

Besides the modernized legal framework, he referred to the country’s “My Residence-Golden Visa” program as well as to the good reputation Greece built during the pandemic as a safe destination – the result of close cooperation between the public and private sectors, he said.

“Now is the time to come and invest in Greece. Greece is changing,” he said.