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Travel & Tourism industry news by Greek Travel Pages (gtp)

Greek Island VAT Rise Not Bringing in Gains

Revenue from the elimination of a special tax status applicable on a number of Greek islands has proven disappointing, according to an October tourism survey.

Lamda Says Hellinikon ‘Cannot Be Materialized’ Due to Double Talk

Hellinikon Global, the managing investor of the Hellinikon project, said that the investment cannot proceed due to continuous set backs and political double speak.

Enterprise Greece: €1bn Worth of Investments in the Pipeline

One billion euros worth of investments are in the pipeline for Greece in the areas of tourism, energy, telecommunications and commerce.

Greece’s Economic Chamber Says Reduced Island Tax Status an EU Provision

The Economic Chamber of Greece is calling on the government to retain the special tax status applicable on Greek islands.

Four Seasons Astir Palace Hotel Athens Aiming for Spring 2018 Opening

The multi-million-euro revamp of the Astir Palace will proceed according to schedule with plans to open its doors to the public in spring next year.

One Prerequisite Down Nine to Go for Hellinikon Project to Move Ahead

Of the 10 conditions for the Hellinikon project to move ahead only one has been met, while investors say it will take a decade to clear outstanding issues.

Greek Hotels Becoming Attractive Investment Option

Increasing tourism flows and dropping prices are making Greek hotels an attractive investment choice with hospitality units on the islands winning over buyers.

Greek Economy Ministry Expects FDI to Exceed €4bn in 2017

The Greek economy is showing signs of recovery with the economy ministry expecting FDI to exceed 4 billion euros in 2017.

Greek Gov’t Seeking Way to Put Island VAT Hike on Hold

Α decision to eliminate a special tax status on the Greek isles may be postponed, as the government looks into ways to ease the tax load on its citizens.

Fraport Greece Airports Boost Parent Company Profits

Fraport Greece has boosted German operator Fraport’s turnover by approximately 181.4 million euros since April, when it took over 14 Greek regional airports.

FS Italiane: Speed Train on Athens-Thessaloniki Route in January 2018

Ferrovie dello Stato Italiane, owner of Greece’s train operator Trainose, in January is aiming to launch a new passenger speed train to run the Athens-Thessaloniki route.

Plans for Skyscrapers at Hellinikon Raising Concerns

The Hellinikon project is facing a new obstacle as the Central Archaeological Council (KAS) must now decide on whether or not to allow the construction of six high-rise buildings.

Greece Properties Selling to Foreigners, Golden Visa an Incentive

All the more foreign nationals are interested in buying property in Greece with the real estate market picking up pace, particularly due to the golden visa program.

Astir Palace Project Moves a Step Ahead After Minister’s Approval

Greek Culture Minister Lydia Koniordou has approved the investment plan and the environmental impact study for the overhaul of Astir Palace in Vouliagmeni.

Athens Airport Management Plans to Invest €400m in Upgrades

Athens International Airport's operator has announced plans to put 400 million euros into the upgrade of the airport, over the next five years.

Investment Key to Recovery, Greek PM in US to Stimulate Interest

Greek Prime Minister Alexis Tsipras is currently on an official visit to the US, where he is making efforts to stimulate investor interest.

Study Shows Greeks Still Distrust Banking System

More than half of all Greeks distrust the banking system according to a study focusing on capital restrictions, conducted by business consultants Alvarez & Marsal.

Thirty Hectares at Hellinikon Former Airport Declared as Archaeological Site

The Greek Central Archaeological Council has decided that some 30 hectares of the 620-hectare plot at Hellinikon will be classified as an archaeological site.

IOBE: Greece’s Economic Climate Improving

Greece’s economic climate showed signs of recovery in September, boosted by positive tourism performance and political stability, according to IOBE think-tank.

Greek Archaeological Council Postpones Decision, Hellinikon Project on Ice

The Hellinikon project is still in limbo after the Central Archaeological Council postponed its decision on whether the site has areas of archaeological importance.