Premium investment opportunities for the Greek high-value tourism subsectors

Greece presents a prime investment opportunity in the Tourism sector with a well-established tourism industry, more than 16,000 kilometers of coastline and more than 6,000 islands.

The country is one of the top global tourism destinations for summer holidays, therefore it has been attracting significant tourism investments in recent years, thus further strengthening Greece’s image as an ideal destination both for holidays and tourism-related investments.

During the last decade, Greece presents continued growth in tourist arrivals and revenues driven mainly by:

• the significantly upgraded tourist product offering
• the development of key, new markets such as Russia, Israel, Turkey and China.
• the expansion of the tourist period
• the attraction of higher-value tourist segments
• the increase of average daily spending
• the opening of new tourist markets

The continuous upgrading of the tourist product is considered to be a strategic avenue for growth in the Greek economy.

The next years, significant investments in the tourism industry will conducted focusing on high-value tourism subsectors such as:

• Nautical tourism (cruise liners, yachting/ sailing holidays).
• City break tourism focused on Athens and Thessaloniki.
• Thematic sun & beach tourism.
• Cultural and religious tourism.
• Medical tourism which presents an exciting growth opportunity.
• Meetings and Incentives (MICE) tourism.
• Sports tourism (e.g. golf, training activities etc.).
• Integrated resorts – holiday housing new developments in existing and new tourism destinations.

Key investment opportunities

• Development of premium tourist resorts and properties aided by the funding and tax incentives given for such new developments.
• Development of specialized tourist products and facilities focused around specific themes (gastronomy, culture, wellness etc.), categories (medical tourism, MICE etc.), markets (US, Israel, Asia etc.) or segments (elderly, couples etc.).
• Privatization of several key state-owned tourist and transport assets (marinas, regional airports, tourist properties etc.) by the Hellenic Republic Asset Development Fund.

Funding incentives

Considerable grants and tax exemptions by the Greek state could receive enterprises utilizing the Investment Incentives Law, for Capital investments to establish or further modernize their tourism facilities in Greece.

Type of aid:

• Grant
• Subsidy
• Tax exemption
• Wage Subsidy
• Leasing Subsidy

Τhe maximum aid intensity reaches up to 75% of the eligible budget*.

*The maximum aid intensity depends on the geographical area where the investment will be applied.

Maximum amount of aid: up to € 5mil.

Types of tourism investments that could be founded (indicatively)

• Establishment or expansion of hotels of at least 4*
• Establishment, expansion and modernization of camping of at least 3*
• Establishment and modernization of traditional buildings which belong to or are upgraded to a category of at least 3*
• Tourism facilities (conference centers, thalassotherapy centers, rejuvenation centers – spa)
• Football and basketball Fields (4 × 4, 5 × 5 etc.), tennis courts, etc.
• Swimming pools

Click Here to Read the analytical page for the Grants in Tourism Sector In Greece

The article was updated at 29/07/2022

For further information please contact VK PREMIUM Business Consultants at : info@vkpremium.com or call us : + 30 210 6835560