Tourism Investments in Greece Reveal Unknown Destinations 

Greece is shifting its tourism strategy to showcase lesser-known destinations and attract foreign investments, said Tourism Minister Vassilis Kikilias this week during the “Israel-Greece Conference” held at Brown Hotels’ new 5-star project: the Isla Brown Corinthia in Loutraki.

“We’ve worked systematically for the last three years in order to re-instill confidence in the Greek economy, implementing the necessary reforms, removing age-old bureaucratic hurdles and creating the appropriate institutional framework to attract large investments and create new quality jobs for Greek citizens,” said Kikilias.

The minister confirmed that there was “significant investor interest” in recent months by large funds from abroad in the tourism sector. He referred to the Brown Hotels group, which is “now investing in Greece with 50 hotels. And in fact, not only in popular destinations”. 

The Isla Brown Corinthia hotel in Loutraki, is the latest addition to the portfolio of Brown Hotels in Greece.

Kikilias added that the majority of global multinationals in tourism and hospitality are now in Greece constructing or reconstructing hotels and high-level accommodation also in lesser-known or underdeveloped destinations, creating “a very healthy part of the economy that is in line with the development model we want for the country”.

“These investments cast the spotlight on alternative destinations and generate income for the average Greek business and family,” he said.

“We’ve seen similar investments in the center of Athens, in an area that many considered degraded, in Evia, Lavrio and Loutraki with very nice resorts and hotels. These investments mean new jobs for Greeks, strengthening the primary sector and the commercial world, but also more revenue for state coffers from taxes and levies,” he said.

Lastly, he referred to the strong ties between Greece and Israel, which are also “reflected in the tourism sector”. Kikilias said that over 100,000 travelers from Israel visited Greece in April and in the upcoming period, the number of flights from Israel to Athens and Chania are expected to increase.